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Well the strategy of "being in the game because you cost less" is really a horrible reality. Price wars are a horrible strategy, you basically put value, or take value from the people and put it into the volume.
That's the worst idea ever. Price controls leads to scarcities because the market gets brutalized by factors that's shouldn't be, leading to bigger problems and accelerating the destruction of the economy.
This book explains it better.
Wow ooo, I didn't know about that, I may find this book and read it up, thank you.
Well countries that did invest in innovation have a way to continue growing their offer. But is true, startups now even innovative ones are less of a priority when the money is not there.