The Three "Magic Weapons" of China's Economic Development in the Eyes of Foreign Media
On December 26, "Economic Weekly" of Germany published an article analyzing China's economic boom, and thought that the Chinese government are hoping to replicate these methods to promote technical progress for the next decade. The first medicine is money. The Chinese government has lowered the threshold for entrepreneurship and funded start-ups with huge amounts of money. In 2016, China invested in the world's second largest research fund. Credit Suisse forecasts that by 2020, China's annual research funding will be 73% more than it is now, overtaking the United States. The second is competition. After ten key industries, such as electric vehicles and robots, have been identifiedbyBeijing, the 31 provinces of China began to compete against each other. Local governments are working hard to develop a strategy so as to best promote the development of local industry. The third medicine is industrial park. The typical example is Zhongguancun Science Park, which was established in 1986. In November, the U.S. business information company "expert market" named Beijing as the global center for science and technology. "China's science and technology is developing very rapidly, and this is very beneficial to young people," said kelleher of the "expert market". Other countries are watching China's innovation policies with envy. Economists argue that for large projects, China's planned economy means an advantage. whether in high-speed train or space program, the government can coordinate various enterprises to improve efficiency,. The biggest drag on China's path to global tech leaders is that Beijing has become too accustomed to success. Because real technological innovations are unpredictable and can't be controlled. It should be noted that the perspective of foreign media on the achievements of China's economic development is noteworthy.