The Sound of Economics
Zooming in on the US-China tech rivalry
Apr 24, 2024
Economic expert Alicia García-Herrero and tech analyst Paul Triolo discuss China's innovation drive, US-China tech rivalry, and key tech sectors like semiconductors and biotech. They explore China's tech evolution, industrial strategy, and the geopolitical implications of the rivalry. Insightful discussion on government policies, national security concerns, and the competitive landscape in the tech industry.
49:04
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Quick takeaways
- China's technology evolution shifts from state-led to private sector-driven, with challenges in accessing cutting-edge hardware for further innovation.
- China's strategic focus on supporting industries like EVs leads to emergence of global leaders in green technology, showcasing strong market position.
Deep dives
China's Innovation Drive without Adequate Economic Gains
Despite China's significant increase in R&D expenditure and enhanced human capital, the massive innovation effort has not fully translated into technological advancement and economic gains. Various factors contribute to this disconnect, including the challenge of integrating intermediate innovation goals into actual economic growth. The complexity lies in the black box of why China's substantial means and intermediate goals have not yielded the expected increase in total factor productivity.
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