That is the case for western economies. China controls nearly all levels of its supply chain. In the past, they didn't have the skills for design, but over time has gained that skill set (china now creates nearly a third of the worlds new engineers per year) and is now capable of designing and manufacturing world class products all in-house.

I guess the only exception is semi-conductors, but we all know they are desperately trying to remedy that.

And Chinese companies may soon have to evolve too should they want to remain competitive. Being at the behest of a single country is a weakness. A strong company is one that can shift between countries and therefore does not need to bend to their will. The largest Chinese companies will, one day soon, have to step away from Chinese government control.