China needs at least another 30 years to become a manufacturing power
China needs at least another 30 years to be a manufacturing power. According to the BBC news website, this opinion was expressed by an adviser to the local government and former Chinese Minister of Industry and Information Technology Miao Wei.
Many observers see China as a “world factory”, accounting for more than a third of global car and telephone production. However, Chinese leaders are concerned about the high dependence on the United States for technological products such as semiconductors.
“The key technologies are in the hands of others, and China risks hitting its throat,” Miao Wei said.
Although China still produces a significant amount of consumer and industrial products, its output has fallen as a share of the economy. Last year, production accounted for just over a quarter of gross domestic product (GDP), the lowest level since 2012.
China wants to accelerate the development of advanced technologies from chips to artificial intelligence over the next five years. This is a high priority for Chinese leaders, as companies like Huawei were cut off from the purchase of critical components during the reign of US President Donald Trump.
China also wants to improve in the development of aircraft, robotics and vehicles using new forms of energy.