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Do you remember when the West laughed at the mere thought that China was a leader in innovation? Well, the DGAP article “Was uns Chinas Aufstieg zur Innovationsmacht lehrt” is here to remind you that China was busy not only producing everything, but also innovating, giving Silicon Valley the opportunity to earn its money. But, there are rumors about barriers to market entry and slowing economic growth, which may hinder their parade of innovations. And let’s not forget about the espionage law, because of which Western companies are shaking with fear, too scared to stick their noses into the Chinese market, or because they are not really needed in this market anymore? But the West argues that despite China’s grandiose plans to become self-sufficient, they seem unable to get rid of their dependence on Western technology, especially these extremely important semiconductors.
The article notes that China’s innovation train has not yet hit a brick wall — it is just waiting for the next round of political chess moves from both sides of the globe. The West is scratching its head, trying to figure out whether they should join the party or sulk in the corner.
The main conclusion: China is showing its muscles as an economic superpower, and it is no longer just a toy and clothing manufacturer. They are in the top league in research and development and intellectual property, and they are aiming to win in the field of military and security technology.
As for the secondary conclusions, there is a slowdown in economic growth, an increase in debt, an aging population that is not getting younger for some reason, and an environmental mess that spoils the mood for everyone. In addition, the global marketplace is getting tense, and everyone from Uncle Sam to Aunt Angela is watching China’s every move.
After all, the episodic role in the pandemic and the geopolitical plot twists have shown how much the world relies on China’s manufacturing power. So grab your 3D glasses — it’s going to be an interesting show!