‘Superpower Marathon’: United States VS. China
Although the US may be ahead of China in some areas of the technology race, experts caution against the world’s largest economy sitting on its laurels, urging collaboration with allies and policy changes at home instead.
Along with the US-China trade war, both countries have been engaged in an intensifying race to dominate different next-generation technology fields, such as 5G networks and artificial intelligence (AI).
The term “5G” refers to the most advanced mobile networking technology, which offers superfast data speeds and the ability to support vital infrastructure. That is one of the reasons it is regarded as critical technology by both countries.
The rate at which China produces electronics for the consumption of people worldwide is at the stage of usurping the US. But this does not stop the US from keeping producing electronics. There are many local electronics stores around you. Do you find it challenging to locate a trusted electronic store in your community? You can take a look at the local electronic stores’ online reviews on US-Reviews. You will be able to compare different reviews about the electronic stores close to you.
Beijing has set out a series of plans over the last few years in the hope of transforming China into a global leader in a variety of technological fields:
- The country is currently preparing to release a 15-year roadmap — dubbed “China Standards 2035” — outlining its efforts to establish global standards for emerging technologies.
- In 2017, China declared its intention to overtake the United States as the world leader in artificial intelligence by 2030.
- Five years ago, in 2015, Beijing launched the “Made in China 2025” initiative, aiming to establish China as the global leader in high-tech manufacturing.
US leading in AI competitiveness
Citi recently published a study on the competitiveness of 48 economies in artificial intelligence and discovered that the United States continues to lead significantly. The report stated that the other 47 economies included in the index would face “significant difficulties catching up to the United States’ AI industry in 2020-30.”
It was attributed to the United States’ power, especially in artificial intelligence patents, investment, and academic research. Citi stated that the rating was unsurprising, considering that most major tech firms have their headquarters in the United States.
You determined the ranking by weighing five factors in the field of artificial intelligence: academic research, patents, investment, labor, and hardware.
However, the study found that only China ranked second in the index behind the United States, is likely to “cultivate an independent, strong ecosystem for the AI industry for economic and geopolitical reasons.”
No resting on laurels
According to Michael Brown, China will also need to catch up in two ways, the director of the US Department of Defense’s defense innovation unit.
Although many countries have invested in developing their domestic biotech sectors, China is the “only one whose size could potentially threaten American pre-eminence” in biotech.
China’s policy goal is for biotechnology to account for approximately 4% of GDP by 2020; by contrast, biotechnology accounts for around 2% of GDP in the United States, Moore said.
According to experts, the US could leverage alliances with other nations and reorient domestic policy to boost competitiveness.
Investing in studies conducted by both the government and academia is a “proven strategy” from the Cold War period that Brown believes can be applied to the current situation. However, he argued that the “more critical and challenging approach” would entail the “need to change our business thinking and capital markets to step away from short-term thinking and toward a more long-term orientation.”
He cited the short-term mentality that pervades the US business environment due to factors such as an emphasis on quarterly earnings, and increasing short-term stock price, and shorter holding periods for stock.
In comparison, China takes a long view and views technology and innovation as critical components of improving national capabilities as part of its overall national strategy, he explained.