STATE CAPITALISM IS A GRIFTER’S DREAM AND THAT’S WHY JOE BIDEN IS SO FOND OF IT: China Throws Money At Semiconductors Again. “Do you remember the last time I covered where the money went to in those previous phases? The money went to companies like Wuhan Hongxin Semiconductor Manufacturing Co. Result? ‘Hongxin’s unfinished plant in the port city of Wuhan now stands abandoned. Its founders have vanished, despite owing contractors and investors billions of yuan.'”