Why China Will Rival the U.S. in High Tech

April 29, 2019

Those who think China can’t catch up in innovation tend to base their arguments on abstractions: A rigid education system stifles creativity, they say, while heavy-handed industrial policies such as the “Made in China 2025” program encourage waste and inefficiency. Those skeptics are ignoring a far more concrete and relevant factor, however: the growing size and sophistication of China’s domestic market.