'Peak China' and the modern industrial system скачать в хорошем качестве

'Peak China' and the modern industrial system

For more: https://news.cgtn.com/news/2023-09-28... I'm Robert Lawrence Kuhn and I'm watching two things: First, the claim by some analysts that China has reached the pinnacle of its relative economic power, especially with respect to the U.S. – hence the catchphrase, "Peak China." And second, China's focus on high-quality development to bring about a modern industrial system. The two things are related. A "Peak China" now, or soon, could mean that China's economy would never overtake America's economy (at market exchange rates), as commonly assumed for years, even though China's population is four times that of America's. Headwinds for China include: low consumer confidence and consumption; imbalanced industrial structure; reduced productivity from new infrastructure; massive debt; a constrained private sector; geopolitical tensions; technology sanctions; a workforce that has already peaked; and a shrinking and ageing populace. The Economist magazine no longer forecasts China to zoom past America and retain a commanding lead but rather to end up closer to economic parity. Yet, the Financial Times headlined, "We shouldn't call 'peak China' just yet. Yes, there are deep structural problems in the economy, but this is also a country with significant strengths" – noting 1.4 million graduating engineers a year, the world's busiest patent office, a highly entrepreneurial population, and impressive world-leading potential, such as in electric vehicles and information technology. China has a big vision of high-quality development creating a modern industrial system, which optimizes the market playing a decisive role and the government playing a smart role. This is far more relevant, and far more sustainable, than the old, high-growth, energy-intense, heavy industry mode. To highlight this transformation, China has put forth a new term of art, "new productive forces." It means new forms of economic growth derived from continuous sci-tech breakthroughs in a more intelligent information era. China promotes "integrating scientific and technological innovation resources, leading the development of strategic emerging industries and future industries, and accelerating the formation of new productive forces." Especially important are the commercialization of technologies in IT, AI, robotics, semiconductors, new materials, e-commerce, ocean and space technologies, advanced manufacturing, and certainly green technologies, like lithium batteries, photovoltaic power, and new energy vehicles. Look for new policies to promote these "new productive forces." Guidelines call for the core competitiveness of state-owned enterprises to be strengthened, and for the sound development of the private sector to be guided – and, to improve the rate of technology commercialization, for building a series of industrial clusters so that enterprises can locate where sci-tech advances are applied. Moreover, a unified national market is essential, while provincial development must align with national industrial and supply chains. Bottom line, high-quality "new productive forces" is the future. It is indeed a big vision. I'm keeping watch. I'm Robert Lawrence Kuhn. Script: Robert Lawrence Kuhn Editors: Xiao Qiong, Hao Xinxin Designer: Qi Haiming Producer: Wang Ying Chief Editor: Li Shouen Supervisors: Xiao Jian, Adam Zhu (If you want to contribute and have specific expertise, please contact us at [email protected].) Subscribe to us on YouTube: https://goo.gl/lP12gA Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvn... Download our APP on Google Play (Android): https://play.google.com/store/apps/de...