BIG IDEA | ‘The Chinese government is placing large bureaucratic and financial bets on upgrading and digitizing its already dominant manufacturing base. Such efforts have coalesced around one key term: the “industrial internet” (工业互联网). The successful application of it across Chinese industry would prolong and elevate the “Made in China” era.’
Yet another of China’s efforts to attain the lead in crucial technologies and boost productivity. There are more plans, initiatives, and fundings than I at least can keep up with.
The downside of this effort comes in the many reports of waste, overlap, and just plain incompetent administration – not to mention the perennial problem of the Central Government’s difficulty with getting the rest of the team in the business and local governments to follow the plan.