I'm honestly not sure why this is seen so negatively. It seems to be working pretty well for them, perhaps we should do similar instead of whining about others being more effective?
Another point of comparison we might make, how close is Trump's desired increase to the US Defense budget to what China is spending on industrial subsidies? It looks relatively close to numbers in these research papers.
Do the US numbers account for state level incentives like tax breaks?
I for one do not trust Google summaries, having seen too many hallucinations, it has pushed me away from their search and ai completely.