Domestic market will power China ahead in tech race

Those who think China can't catch up in innovation tend to base their arguments on abstractions: A rigid education system stifles creativity, they say, while heavy-handed industrial policies, such as the Made in China 2025 programme, encourage waste and inefficiency.

Those sceptics are ignoring a far more concrete and relevant factor, however: the growing size and sophistication of China's domestic market.

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A version of this article appeared in the print edition of The Straits Times on April 27, 2019, with the headline 'Domestic market will power China ahead in tech race'. Print Edition | Subscribe