The China Challenge
Although the China challenge has been building since Deng Xiaoping introduced at least a modicum of free market capitalism in the 1980’s. His successors basically followed the same track until 2013 when Xi Jinping took the reins of power. Xi recognized that the pace of economic progress had to accelerate with technology – alarmingly so by countermanding and domestically adopting technology from more advanced economies. This is so because inherent in communism is the absence of innovation – technological development spawned by individual liberty and the incentive to create – thus the need to borrow or otherwise steal it from others. China has a ‘forced technology transfer’ policy. If a foreign tech company wants access to the Chinese market, it is compelled to release everything it knows, including training! In recent years (especially since President Trump has inaugurated push back) not a day goes by without in-depth media China analysis.