The world envies the US’s innovative economy, except for China that is. China isn’t worried that the US can out-innovate them because they just steal everything. They don’t need to innovate. In fact they save money by not needing to innovate. But where China shines the most is in their ability to hyper-focus. With their 5-year plans. the CCP is able to direct massive amounts of capital to emerging technologies, and their efforts have paid off handsomely. China now makes 70% of all EVs, 80% of solar panels, and it is quickly becoming an AI superstar. All of these efforts are deliberate attempts to steal market share from leading US companies. And it’s working!
We need to get our act together.