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As I see it
As Nobel laureates show, the US can’t take tech lead over China for granted
It’s hard to tell who will ultimately win the tech race but this year’s Nobel economics prize gives us some clues
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Alex Lo has been an SCMP columnist since 2012, commenting on China and international affairs.
China and the United States are locked in a contest for technological supremacy. While it’s impossible to predict the ultimate winner and loser, this year’s Nobel Prize winners in economics may serve as a useful guide to where the two rivals are heading.
The US is currently still ahead when it comes to science and technology. But when it comes to STEM (science, technology, engineering and mathematics) education, China has a clear edge, which is likely to grow even larger in the coming years.
Beijing’s heavy investment in STEM education and research as a national priority is a big reason why China is closing the gap with the US. The country’s whole-of-government commitment to tech as a main driver of economic growth is as good a bet as any. It certainly follows the playbook of Nobel winners Joel Mokyr, Philippe Aghion and Peter Howitt.
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