China has been working on advancing technology more than what the US is capable of. The Chinese government has been approaching this industry in a progressive manner. Certain technologies are being acquired to enhance the country’s technological capabilities. This covers railway systems, motors and manufacturing to improve the transportation sector in China. Also, information technology is looked into particularly software development with partnerships among local companies and targeting multinational companies.
China’s ERP software has been more favorable than other country’s output in their own nation and this includes small and medium enterprises. In addition, China has created policies that would protect their source codes from possible intruders in the global market and the US government. Chinese developers are more private in order to keep their work exclusive with a patent. This provides a competitive edge against other foreign companies. Solar panels are another technology venture of China and their competitors are the US and Germany where the Chinese production is greater than the two nations.
Regarding profitability, the Chinese government looked into exporting products for further business opportunities. The market for this is through manufacturing aircraft parts and power generation among other products that have already been mentioned. Aside from the Western competition, other Asian countries are out in the market such as Taiwan and South Korea when it comes to hardware manufacturing such as computers and mobile phones.
Additionally, China has invested on Research and Development to back up their growth in GDP with contributions from the technological industry. Branches such as energy, physics, and nanotechnology are included in the investments for possible projects. China has also considered multinational companies in fields like electric automobiles, power, and transportation. As a result, China is the largest acquiring nation when it comes to technology where almost 500 transactions are closed in just a year. Being against the US, China has overthrown some of the companies in the West such as technology distributors, hardware manufacturing, and e-commerce.
The rivalry in technology between China and the US is inevitable even though there is no direct conflict present. A probable reason for this is that the two nations belong to the top economies of the world and it would take a big effort to prove that their country is the most powerful. The bilateral trade is still applicable although there are own policies that are quite favorable to each nation. Trade’s status is still improving with the West and Southeast Asia which is a good sign that the first world countries possess strength and power.
This fast growing industry in China is owed to their economic reforms. If it weren’t for the Chinese government’s move, China would experience turmoil until the present. The challenging times in China began during the Sino-Japanese war when the Nanjing Massacre also occurred. The Japanese showed violence to the civilians present in Nanking, China and this has affected their economy. Since then, China’s rise was in the making and it took decades before the country was able to fully redeem themselves.
China’s improvement has overthrown the US in terms of technology. On the other hand, the US is slowing down their growth as China is continuing to evolve as a powerful economy. The timing of all the developments that China has shown has truly made an impact in the global market. It will be a matter of strategy for the Western part to counter the speed of China. Studies on their investments, business development, and market sales must be focused on to benefit their economy. With the fast-paced technology, a powerful country must definitely be able to keep up with it.