More than got away with it, actually... they prospered.
There has to be an incentive to not do these things as a government. There is none in the UK.
Why would we work down the prosperity chain?
There's a pretty clear prosperity heirarchy in the world economy and the financing/services dominant economies are ahead of the manufacturing economies who are ahead of the ag/raw materials economies.
Yeah, industrialization has been important for China’s recent development just as it was for the US in the late 19th to early 20th centuries or for Britain a bit earlier. But it was important because it happened at a time when China was at a lower tier in the heirarchy.
But these said economies all seem to just focus on asset-buying. Hence the massive house inflation. They don't make anything. No production, only asset-accumulation. Building a Feudal Economy.