How China’s ‘innovation machine’ is changing — and why that matters for the West

China has had the world’s fastest-growing economy since the 1980s. A key driver of this extraordinary growth has been the country’s pragmatic system of innovation, which balances government steering and market-oriented entrepreneurs. Right now, this system is undergoing changes that may have profound implications for the global economic and political order. The Chinese government is pushing for better research and development, “smart manufacturing” facilities, and a more sophisticated digital economy. At the same time, tensions between China and the west are straining international cooperation in industries such as semiconductor and biopharmaceutical manufacturing. Taken together with the shocks of the Covid…This story continues at The Next Web https://thenextweb.com/news/china-innovation-changing-why-that-matters-for-west