There are a lot of things that China does that other countries don't do, some of these things are bad, and personally I wouldn't want them to be implemented where I live (social credit score, censorship etc.). I don't see how engaging in a race to the bottom with China here is a particularly useful line of thought.

The CCP has recently been favoring anti-trust policy. Having enormous all-encompassing companies that absorb everything is not necessarily a great economic strategy.

https://www.ft.com/content/01b7c7ca-71ad-4baa-bddf-a4d5e65c5... https://www.reuters.com/world/china/exclusive-china-readies-...

"I am not able rightly to apprehend the kind of confusion of ideas that could provoke such a question." - Charles Babbage

The only people benefitting from these mega-mergers are the handful of VC's and the C-levels involved. Everyone else suffers harm, including the government, which has reduced influence on actual governance. Money talks, even in Communism, and huge mega-corporations also impact China's government's ability to govern. I expect them to limit these sorts of arrangements more strictly than the US.

I don't see how that would lead to anything bad happening