In what is now being dubbed an “unmatched” toolkit among OECD economies, China is rapidly flexing its muscles to prevent the outflow of indigenous capital, tech, and talent, leading to an inevitable bifurcation of the global economy. There is a popular perception that hardly any innovation takes place within the Chinese economy, that any headway is a result of borrowed or stolen Western tech. While this assertion might have been true for much of China’s recent rise as a major economic player, there are increasing signs that it no longer holds true. For one, China edged out the US in […]
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