China’s Premier Li Qiang on Wednesday defended the country’s technological advancements as an opportunity for the world rather than a threat. Li also said the country’s heavy state subsidies were not the main reason for the rapid rise of its high-tech industries.
Global Impact
China’s tech advancements and growing exports of electric vehicles, solar panels, chips, batteries, artificial intelligence, and robotics have offered affordable options to global markets, but have also raised criticisms among governments concerned about issues such as oversupply.
Li acknowledged there have been growing global concerns about China’s technological innovations, with some pointing to the term ‘China Shock 2.0,’ as they see the nation’s high-tech boom as a threat to many advanced economies. Instead, that should be seen as ‘China Opportunity 2.0,’ he said.
Li also dismissed claims that the rise of China’s high-tech sectors was because of massive government subsidies. The Chinese government is not that wealthy, he said, and the country’s large domestic market and huge corporate investments are among the key factors in its robust tech advancements.
Original reporting: KTBS 3 (Shreveport) — read the source article.
