China Confronts Need to Adapt Industrial Policy for AI and Quantum Computing to Maintain Economic Ambitions
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China needs to adjust industrial policies to prepare for disruptive technologies like AI and quantum computing that could revolutionize economies.
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China's past economic success was based on selective industrial policies and importing technologies, but this model may become a "trap" with disruptive technologies.
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China views innovation and technology advancement as crucial for countering US containment and becoming an economic superpower.
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China needs more small and medium enterprises to offer technological diversity and lower the cost of potential failures.
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China spends a smaller percentage on basic research than developed countries, which could hamper disruptive technology development.