How China Bungled Techno-Development
When it comes to leveraging technology to foster shared prosperity, China in recent years has offered preliminary lessons about what to avoid. An increasingly rigid political environment is offsetting the gains from innovation by introducing unnecessary inefficiencies and legal uncertainty, as well as stoking social inequality.
CAMBRIDGE – Since the mid-2000s, China has been moving away from a manufacturing-heavy, export-led growth model toward a technology-driven economy. But China’s significant technological advances have been overshadowed by its political landscape, leading to inefficiencies, legal unpredictability, and rising social inequality.