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The original goal was to divide and conquer the communist block (taking advantage of the sino-soviet split/wedge).

After the collapse of the USSR western companies and governments saw shiny ($) ($) in their eyes and could not help themselves. They thought giving up some intellectual property rights was worth getting a leg up on their other western competition because they thought they’d be able to fend off completion local to China as they presumed it would adopt western ideas (law, intl conventions, governance, etc.) despite history indicating otherwise.