Earlier this year, China began to roll out what could be the largest industrial-policy effort by any country to date. Its five-year plan targets technologies such as hydrogen vehicles, renewable energy and biotech. In that five years, it is expected that the equivalent of trillions of dollars in state and private investment will be invested. Significantly, this tech plan aims at cutting dependence on the U.S. and its allies for core technologies.
Interestingly, Harry Moser from the Reshoring Initiative discussed China’s ultimate objective in his latest podcast, which you can find here.