China’s spending on more explicit industrial policies, including subsidies, tax breaks and cheap credit, amounted to 1.7% of gdp in 2019, according to the Centre for Strategic and International Studies, a think-tank—more than three times the percentage spent by America.
In mixing Marxist and neoclassical concepts, new productive forces is a “strange hybrid beast”, says Mr Naughton.
The Global Innovation Index, A middle-income country with China’s gdp per person would expect to rank in the 60s. China ranks 12th.
In fighting a guerilla war, Mao Zedong famously believed in occupying the countryside before advancing on the cities. In the same way, China may be marching into wilder and woollier areas of technological discovery, where its long entrenched adversaries have a smaller advantage.
https://www.economist.com/finance-and-economics/2024/03/31/how-xi-jinping-plans-to-overtake-america
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