>The US Chamber of Commerce has warned that countries have only a “finite” window to respond to Chinese policies that are deepening reliance on its supply chains and harming the global economy.>The Washington-based lobby group said Beijing was “doubling down” on state intervention in manufacturing, services and frontier technologies.>It said China was ushering in a “new phase of global impact” marked by rising trade dependence and a rapid global expansion by its companies. It is also using tools such as export controls to entrench its position in global supply chains and counter foreign diversification strategies.>The warning came in the preface to a report on new Chinese industrial policies produced for the chamber by Rhodium Group, a consultancy. The chamber said the world had underestimated previous Chinese policies, including the Made in China 2025 programme to make the country more self-reliant in critical technologies.>“The challenge the world now faces is not the result of an intelligence gap...Reports were published. The warnings reached senior levels of government and industry across major economies. Yet in too many cases, the response was insufficient,” the chamber concluded.>Rhodium said China’s industrial policy was evolving from sectoral intervention to an “industrial policy of everything”. It said Beijing wanted to extend its dominance in industries such as critical minerals and magnets to a broader range of industrial products. Beijing was also putting more attention on services, it added.https://archive.ph/snjef
>The report said sustained government support and weak domestic demand had driven a rapid expansion of its goods trade surplus — doubling to $2tn since 2019 — in what some have dubbed “China Shock 2.0” as the country rapidly moves away from an economy based on low-cost manufacturing.>It said China was making significant gains in industries such as chemicals, machinery and industrial equipment, following earlier significant expansion of market share in industries such as electric vehicles and clean energy.>“Global reliance on Chinese supply chains is deepening across a growing number of critical products,” Rhodium said, adding that China was using regulation and economic coercion to reinforce control over key supply chains. “The window for effective policy response is narrowing,” it added.>Camille Boullenois, lead author of the report, told the FT that China’s evolving industrial policies posed a “real threat” to the economic engine of countries such as Germany and other advanced industrial economies. >“China’s rise is broadly eroding some of the last areas where they still have a technological and industrial edge, like chemicals, autos, machinery and robotics,” she said. “China is gaining market share incredibly fast in these sectors. If countries don’t react now, the industrial landscape could look very different in just a few years.”>The report noted that China’s most recent five-year plan had for the first time included a focus on advanced technologies such as biomanufacturing, nuclear fusion energy and brain-computer interfaces. This suggested that its industrial policy was evolving from focusing on strategic sectors to a “broader effort to reshape the entire industrial ecosystem”.>The trade surplus growth represented success moving up the production value chain and exporting high-tech goods but also its success substituting domestic products for imports.
>>62238057ai robots are coming. wake up and invest /biz/.
>>62238057China is the new power and Usa is just coasting on past fumes. Only 10% of Americans are doing well and are carrying the economy and countru.
>>62238069china is begging us for our chips lol. our tech companies are globally dominant.
>>62238116No China isn’t. lol. China is aiming for self reliance. Also, there isn’t an industry china has entered and didn’t take over. >>62238116
>>62238069> our tech companies are globally dominantNot true. China took over the smartphone and ev industry. lol. Your thinking of China is very outdated.
>>62238116> our tech companies are globally dominantThere isn’t a tech company usa has that China doesn’t have the equivalent of. lol.
>>62238116> china is begging us for our chips lolThis arrogant american attitude is why Trump and the ultra wealthy have no idea how far behind usa is. I am sure musk and jensen know since they travel to china frequently. And ai and chips isnt a race.
