Western brands have relied on the Chinese market as cash cows for a while now (high end electronics, cars, fashion), seeming to rely on the cachet of being seen as more technologically advanced, luxurious or a status symbol to justify the increased prices over the domestic brands. Unfortunately for a lot of companies, the Chinese have developed their own advanced and high end brands that can undercut the Western brands on price are starting to eat into marketshare. See the smartphone market and car/EV market for good examples of this. It seems like a lot of Western brands and their investors are in a bit of denial about the issue.