In recent years, G7 countries have ramped up trade and investment controls to contain the growth of China’s dual-use high-tech sectors and to limit spillovers of China’s muscular industrial policy to their industries. Faced with growing geopolitical headwinds, the Chinese government has doubled down on its ambition to become a more self-reliant global technological powerhouse. “Scientific and technological innovation has become the main battlefield of the international strategic game,” said Xi Jinping in a speech on May 28, 2021, “and the competition around the commanding heigh China could rein in Beijing’s ambitions to become an innovation powerhouse in isolation. History suggests that slowing economic growth tends to negatively affect innovation funding and capacity. The trend could be even more acute in China, where local governments, which play an outsized role in science and technology (S&T) funding, find themselves under intense fiscal pressure.
Find more information here: https://rhg.com/research/spread-thin-chinas-science-and-technology-spending-in-an-economic-slowdown/
Posted by ENRICH in China Team on 08-Mar-2024 00:00
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