How China took over the entire solar panel market worldwide

Many countries in the beginning developed their own solar panels like Germany, France, the U.S. etc.
But then, China decided to flood the world market with panels below cost. By doing this no one could sell and compete with China because China was willing to sell these solar panels worldwide for less than the materials cost to make them in the first place.

Why?

They did this to put out of business any solar panel competition on earth.

Why?

Likely because one day when they are the only ones anywhere who make solar panels they will cut solar panels off as a way to compete economically with the whole world.

Would this work?

Likely it wouldn't work with more developed countries who would just have their armies and research facilities make their own solar panels anyway. But, for 2nd and third world countries this could be a complete disaster for them and allow (at some point in the future) China to blackmail them in various ways to do whatever they wanted them too.