Michael Santoro : Technology in China : Pacific Council on International Policy
Professor of Management Michael Santoro published an article on Pacific Council on International Policy about China’s growing technology advances in comparison to the United States’s. Companies such as Tencent in China are key examples of this advancement after obtaining an evaluation higher than Facebook. Santoro suggests that paradox may be a factor in this situation as he says “Western intolerance for paradox” will only restrict us from understanding what China is undergoing in its technological progress.
An excerpt from the piece:
Trade negotiations between the United States and China opened this week in Washington. A major issue on the table is China’s subsidies for advanced technologies. However, China’s technological rise cannot simply be explained away as a product of unfair trade practices. The Chinese government has developed a "smart mix" of picking and subsidizing national and regional champions along with market-based investment. China today has 34 unicorns—privately-held technology companies worth over a billion dollars. Silicon Valley has 128.
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