"The Western debate about China's industrial rise fixates on subsidies, but the real driver is commercialisation: the ability to take technology from laboratory to global market faster than any competitor."
"Chinese policymakers describe their industrial evolution as a shift from the 'old three' exports, textiles, furniture, and home appliances, to the 'new three': electric vehicles, lithium-ion batteries, and solar panels."
China's industrial rise is driven by its ability to commercialize technology quickly, surpassing competitors. Government venture capital funds invested $184 billion in AI firms, leading to successful companies like BYD and CATL through domestic competition. China's R&D spending has exceeded that of the U.S., and the Made in China 2025 initiative achieved 86% of its targets. The focus is shifting from subsidy debates to understanding why China's approach yields globally competitive firms, contrasting with European outcomes.
Read at TNW | China
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