Abstract
Subject China's global market presence in the sectors targeted for development by Made In China 2025. Significance Beijing's 'Made in China 2025' framework aims to make China a leading player in ten high-technology sectors. China’s current position in the global market varies greatly from one targeted industry to another. Comparison with the United States as the world's economic superpower and China’s main rival helps put the grievances Washington expresses towards China in context. Impacts China’s ability to compete on technology and quality will rise significantly, especially in advanced non-electrical and transport machinery. Domestic political pressure on the US government will rise as more US firms face Chinese competition. Trade tensions with the United States will spur indigenous development of technologies for which Chinese firms now depend on US suppliers. A cohort of globally competitive Chinese high-tech firms will develop first; upgrading the whole Chinese economy will take far longer. Even when the technological gap narrows, Chinese firms will continue seeking to acquire high-tech firms in developed countries.
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