ED Ten years of China’s rise
Ten years ago, few believed that China could evolve from a producer of low-cost, generic goods into a global leader in advanced manufacturing. But in just a decade since launching its “Made in China 2025” initiative, China has defied expectations — and redrawn the map of global industrial power. Today, China holds the top position in at least seven high-tech sectors: electric vehicles, batteries, drones, 5G telecommunications, solar panels, high-speed rail and advanced materials. These are not marginal gains; they represent the heart of future industrial competitiveness. This transformation was the result of a deliberate, long-term national strategy — one that mobilized policy, capital, personnel and innovation in unison. The scale of China’s commitment is staggering. It dismantled regulatory barriers, introduced sweeping tax incentives, and directed massive public investment into research and development. Since 2010, China’s R&D budget has grown at an average annual rate of 12.7 percent, reaching 646 trillion won ($471 billion) in 2024 — more than 20 times Korea’s 31 t
May 29, 2025