Innovation in China: Counterfeit No Longer
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| China: Three-D Printed Houses - TechWorld |
"America has been dreaming of becoming a cashless society. But China is already there."
"[It has] leapfrogged the rest of the world [and now proceeds on its mobile course in every manner of venture]."
Ya-Qin Zhang, president, Baidu (search engine)
"Just two weeks go I brought in about a dozen green energy start-up companies from Massachusetts [to expose them to potential opportunities in China]."
Walter Fang, executive, iSoftStone
"I slide across the Chinese countryside at 300 kilometers per hour from Beijing to Shanghai. There are nearly 60 trains going from Beijing to Shanghai every day, typically with 16 cars able to carry nearly 1,300 people."
"We glide past endless brand-new factories and immaculate apartment buildings in practically every city along the way, with many more still under construction."
Chinese trade expert
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Zhang Peng | LightRocket | Getty Images
The innovative Chinese digital advertising market is the second largest in the world after the U.S.
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When China joined the World Trade Organization in 2001, gaining preferential access to global markets, China was recognized as a "developing economy", and thus was granted the right to continue protecting portions of its market on the understanding that as the giant country reformed and as its economy strengthened, its trade barriers along with government support of Chinese companies would be diminished.
Unfortunately for the rest of the world that's not exactly what happened. China's capability of producing cheaper consumer goods reflecting its lower-paid workers and state subsidies grew its markets abroad while at the same time having the effect of closing down manufacturing in other countries when it was realized their prices couldn't compete on the world market with China's. And so China's trade grew and so did the imbalance.
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| China: Five Hundred Meter Aperture Spherical Telescope - FAST TechWorld |
China, now a production giant with trade tentacles and investments worldwide, still protects its own producers from foreign competition by limiting access to Chinese markets or insisting that foreign companies form a partnership with the Chinese, transferring their intellectual property to China as the price for access to that mammoth market. When Chinese companies became sufficiently substantial they entered the foreign market.
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| China: Floating Solar Power Plant - TechWorld |
"Made in China 2025" is an ambitious effort on China's part to see itself as the world leader in electric vehicles, new materials, artificial intelligence, semiconductors, bio-pharmacy, 5G mobile communications and other similar industries. The understanding that China would open its markets seems to have collapsed in the face of reality.
Alibaba can set up its cloud server in the United States, but Amazon or Microsoft are unable to do the same thing in China. Chinese domestic financial services dominate the Chinese market to the extent that foreign companies eager to find the opportunity to invest and grow in the Chinese marketplace find themselves jostling over the dregs.
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| China: Transit Elevated Bus -- TechWorld |
The German company Kuka Robotics, a world leader in industrial robots, was bought by Chinese company Midea. A Chinese mobile website, Meituan.com employs 300,000 people on electric bicycles whose job it is to deliver takeout food and groceries to ten million Chinese mobile Internet users on a daily basis: "We are the largest food delivery company in the world", boasts its founder, Wang Xing.
In China, 700 million people engage in so many daily transactions on the mobile Internet that the country is gathering massive amounts of information to be harvested in the identification of trends to spur new artificial intelligence applications. "Software and new energy" job openings are proliferating in China as it dedicates itself to pulling out of coal. Jobs are available for engineers for electric cars, solar and wind.
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| China: Schenzen East-to-West Energy Plant - TechWorld |
The rate at which a country once known for adapting other nations' blueprint discoveries as its own and thought incapable of original design breakthroughs in new technologies now dominates the mobile Internet. Everyone pays for everything with a mobile cellphone; Chinese newspapers report that beggars living in major cities place a printout of a QR code in their begging bowls enabling passersby to scan it and with the use of mobile payment apps make a handy charitable donation.
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| China: Quantum Science Satellite - TechWorld |
Labels: China, Economy, Innovation, Technology
posted by Pieface @ Sunday, June 25, 2017
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