China business expert Rebecca A. Fannin explains how China's tech sector is fast catching up to the West.
China's pursuit of technology dominance has progressed through three stages, according to business writer and China expert Rebecca A. Fannin. The period between 2003 – 2010 saw the flourishing of internet start-ups, phase two saw a boom in mobile phone-centric start-ups and today China is putting up stiff competition in artificial intelligence, biotech, self-driving cars, robotics, mobile payments and more.
At first China was a quick and effective imitator, but is now pulling ahead in key areas. While there are pitfalls for China's tech titans – a repressive government that could close shop on any business that gets too powerful, a lack of profitability for many emerging start-ups, despite large market share – the overall picture is of an emerging tech dragon to rival the West.
The way Fannin paints it, China could be on the cusp of global tech dominance, leading to economic dominance and a shake-up in the world order. Nothing is assured in this cut-throat world, but the sheer speed with which China has caught up with the West is no doubt ringing alarm bells in government and policy circles.
A fast paced overview of a quickly evolving tech sector with enormous potential for global disruption.
Tech Titans of China: How China's Tech Sector is Challenging the World by Innovating Faster, Working Harder and Going Global, by Rebecca A. Fannin. Nicholas Brealey Publishing. $29.99
North Melbourne Books