In 1999, Ford bought Swedish Volvo Cars because the Swedish company lacked capital. The company was then sold to Chinese Geely for 13 billion. (Source: Affärsvärlden ). This has led to Swedish capital disappearing abroad. When Sweden's car manufacturer was sold to a Chinese company, a dictatorship gained control of this company. Swedish News 28 October 2022 shows that a large part of Swedish industry was sold out especially to China. I'm guessing it's for one and the same reason. To raise capital.
In addition to Swedish capital disappearing to China, according to Swedish news, all Chinese citizens have an obligation to cooperate fully with the Chinese intelligence service. Guess if this poses a risk of industrial espionage.
But Sweden's state is a sovereign currency producer. If Swedish companies lacked money, the state could have created these digitally and brought them out into the economy or instead bought our Swedish companies on their own. For a sovereign economy that can create money through the state, money is free. Production resources, labor, technical know-how, natural resources, however, are not free. We give it away later to get money that is free for Sweden to create as long as it does not lead to inflation. But when we are to receive foreign money, these must still be recreated in Sweden in order to be valid in Sweden.
However, Swedish capital is not free for ordinary Swedish citizens, companies and authorities (except for the state in the production itself). It means a transfer of the results of what Swedish labor and Swedish natural resources can offer to other countries, just because Sweden, especially in the 1990s, began to believe that it is bad for the state to create money.
Read about alternative ways to speed up the Swedish economy and technology:
Financial capitalism and feudalism in the West versus industrial capitalism in the East
The book The Deficit Myth - by Stephanie Kelton
The book The Entrepreneurial State - by Mariana Mazzucato
https://www.bokus.com/bok/9789187207549/entreprenorsstaten/
Just want to point out that for Sweden and not least for Gothenburg, Geely's purchase of Volvo Cars was a real lottery ticket. Many of us had expected that they would only want to access Western technology and then move all development to China, leaving only, at best, a minor assembly plant. It turned out the other way around. Geely invested heavily in Gothenburg, which has become the company's European Detroit with new development companies, new car brands and growth that has been enormously good. That the Chinese state would use Geely or other industrial companies as some kind of Trojan horse for its own political purposes is a popular conspiracy theory but has little to do with reality. China's political goal is to challenge America's global economic hegemony through investment in key industry and strategic infrastructure. It is hardly about buying ports to be able to land troops in secret or buying Volvo or other companies to register people's opinions, but about wanting to get the power that big companies always get, not least financially, in the same way that our western companies have gotten over the decades.
That Geely was successful for Gothenburg is only half true. If the state instead created money and bought Volvo, the profits could have gone to Sweden instead of China. But the original start of globalization by Ronald Reagan in the 80s in China I believe was driven by the desire to lower costs for workers.