Washington need not worry about China’s economic boom, much less respond with protectionism. Although China controls more of the world’s exports than ever before, its high-return high-tech industries are dominated by foreign companies. And Chinese firms will not displace them any time soon: Beijing’s one-party politics have bred a timid business culture that prevents domestic firms from developing key technologies and keeps them dependent on the West.
George J. Gilboy is a senior manager at a major multinational firm in Beijing, where he has been working since 1995, and a research affiliate at the Center for International Studies at the Massachusetts Institute of Technology.
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