China’s post-COVID rebuild will position the country to weather future pandemics.
China’s economy has taken a serious beating from the COVID-19 pandemic in recent months.
China’s Demand for Tech Flourishes as the Economy Contracts
The severe decline in China’s gross domestic product in 2020 has been largely due to weak domestic consumption.
Launching a New Digital Era for the Economy
The sharp rises in technology imports at a time of overall depressed import demand begs the question as to what accounts for such starkly contradictory sets of economic data. In part, it’s because China’s demand for foreign technology has been relatively strong for years. The government has initiated a string of policies on technological advancement to boost a process of catch-up with more advanced economies.
From Ground-Based Industrial Platforms to Space Orbiting Networks
China’s Ministry of Industry and Information has been the main government body charged with the national coordination and lay out of 5G networks and Industrial Internet integration.
China’s International Tech Collaborations Face Growing Challenges
Xi’s keynote address on developing the Industrial Internet also touched on encouraging enterprises «from all over the world» to engage in in-depth cooperation with China’s industrial enterprises and big data providers.
The Future Implications of China’s Digital Transformation
The longer-term ramifications of mounting U.S. sanctions on the development of China’s technology sector may raise more significant barriers in its striving for world-leading industrial connectivity.
This article was written by Bob Savic
To read the full article, please click on the following link: https://thediplomat.com/2020/06/chinas-new-digital-industrial-transformation/
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