China’s new industrial policy dismissed as ‘Made in China 2025’ rehash by critics in Washington
- New plan seeks to meld ‘smart’ manufacturing with ‘modern’ internet
- Like ‘Made In China 2025’ plan, it would seek to create national champions by 2025
This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States.
China went back to the drawing board to create a new plan to grow its industries. But to many hardliners in the United States, it seems to be a copy-and-paste job of the old plan.
Last Friday, Beijing announced a policy to upgrade and integrate China’s manufacturing sector with a “modern” service sector to respond to rapidly changing demand, according to an official document.
The document provides further evidence that US President Donald Trump’s bruising trade war and aggressive tactics have done little to change China’s drive to dominate new technology with state support. It also underscores the broader challenge Trump faces in his attempt to tame a government-driven economic development model that exists outside the free market.
The main message I get from this is: We’re pursuing a state-led, large firm development goal
“The main message I get from this is: We’re pursuing a state-led, large firm development goal,” said Derek Scissors, a senior fellow and China economy expert at the American Enterprise Institute.
