China has had the worlds fastest-growing economy since the 1980s.
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Instead, room was made for the market to try new ideas through trial and error.
But within this setting, private businesses pursue opportunities in their own interests.
However, freedom for businesses may be declining.
Most of these indices, however, measure quantity rather than quality.
So, for example, China has:
Adding quality alongside quantity will be crucial toChinas innovation ambitions.
This will require greater investment in longer-term basic research and reform of research culture to tolerate failure.
As a result, Chinese manufacturing is appealing to high-tech companies such asAppleandTesla.
In China, the regulations for biotechnology, bioengineering and biopharmaceuticals are relatively relaxed.
This hasattracted researchers and investorsto several leading biotechnology clusters.
However, there are signs that such collaboration between China and the West may be under threat.
However, US sanctions mean many global semiconductor companiescannot sell in China.
China is now investingvast sumsin an attempt to be able to make all the semiconductors it needs.
This in turn may reduce global trade and investment, with bad results for consumers.
Decoupling standards will increase the fracture between Chinese and Western digital innovation.
This in turn will likely lead to further decoupling in finance, trade, and data.
