I really dislike this tone of China acting fundamentally badly. It's their country, they can do whatever the heck they want. If they want a local replacement for everything already existing outside of Chine, so be it. If you just let established big players have all the cake, chances for success of local competitors become pretty slim.

Stealing trade secrets if of course not okay, but that is more of a theoretical argument, the west probably has his fingers equally deep in the Chinese cookie jar. If you make agreements and China later unilaterally breaks them, that is of course also not okay.

But investors don't seem to care, it's not that nobody knows what to expect, but the lure of huge profits seems to win again and again.