News Analysis China is preparing to turn a nearly 40-year-old industrial development strategy on its head. Since the early 1980s, Beijing’s approach to technological and industrial progress was to import it, mainly by entering into joint ventures with foreign firms that provided high technology and startup. Eventually, the Chinese would reverse-engineer the technology and make—and export—their own competitive products or services. Examples of such an industrial approach are numerous: Huawei, Haier, Alibaba, and COMAC (China’s commercial aircraft company). Some of these ventures have been incredibly successful, transforming China into a leading subcontractor and even an original equipment manufacturer. ...
Source: https://www.theepochtimes.com/xis-new-s ... 09967.html
Xi’s New State-Driven Innovation Strategy Could Be a Disaster for China
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Xi’s New State-Driven Innovation Strategy Could Be a Disaster for China
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