The same is not true for China. It is easy for US firms to serve Europeans by localizing language, ergo European firms face global competition from US firms with a lower barrier.
It is more difficult for US firms to serve the Chinese market, even if you have perfect language localization. The cultural differences are larger than US<->Europe. Even before the Chinese government got protectionist, US firms had trouble competing in China.
We've seen lots of tech companies launched from the UK, Germany, and Scandinavia, but less so from other regions. Perhaps it would be better to ask what is it about say, Italy, or France's internal markets that makes tech harder to find investment for locally.
lol.
There was a time when Western companies were flying under the radar during the first half of Hu’s term allowing JV market share to expand significantly.
China’s economy hasn’t been communist since Mao.