How China’s ‘innovation machine’ is changing — and why that matters for the West
How China’s ‘innovation machine’ is changing — and why that matters for the West Decoupling technical standards increases the gap between Chinese and Western innovation Balancing government and market China’s current “innovation machine” began developing during the economic reforms of the late 1970s, which lessened the role of state ownership and central planning. Instead, room was made for the market to try new ideas through trial and error. The government sets regulations aligned to the state’s objectives, and may send signals to investors and entrepreneurs via its own investments or policy settings....
