In a shocking report recently presented during a Capitol Hill event, ITIF claims that in the next 10 years, China could overtake the US and Europe in most of the key technologies.
The Dragon already leads in nuclear reactor deployment and EV production, and in other key areas where it lags, it’s catching up quickly.Out of the 10 high-value technologies the researchers examined, Chinese firms are near, at par, or ahead of their Western counterparts in six.
“Overall, we find that, for the most part, while Chinese firms and industries are not as innovative as the global leaders in Western nations, they are catching up, in many cases at an extremely rapid pace—and the scale of their efforts is massive,” the reportFor a long time, China has been considered a copycat in innovation and there is a good reason for this. Numerous Chinese companies reverse-engineer foreign products and package them as low-cost versions of the original.
However, in recent years, a lot has changed. China became the second-largest economy, and the Chinese government and companies heavily invested in research and development of high-value technologies.in several key areas. For instance, the number of nuclear reactors China developed in the last 10 years is more than what the US deployed in the last 30 years.
“China’s science policy has propelled the nation to world-class levels in a very short time period, moving the nation’s profile from rapid imitation to levels challenging nations with a longer history of world-leading science,” the ITIF report stated. These initiatives brought exponential growth in the country’s overall research output.
As far as quantum research is concerned, “China dominates in quantum communications, lags behind in quantum computing, and roughly matches the United States in quantum sensing,” the ITIF team notes.
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