Mish’s Global Economic Analysis has a wonderfully-juxtaposed view of two countries’ long-term economic strategies. He lays in stark terms, the implications of China’s current drive toward “indigenous innovation” as the next wave of its development strategy, versus the United States’ long-term obligations to the two nation-states currently occupied by its military.
Indigenous innovation is a massive and complicated plan to turn the Chinese economy into a technology powerhouse by 2020 and a global leader by 2050. The landmark document that launched the campaign carries the bureaucratic title “The National Medium- and Long-Term Plan for the Development of Science and Technology (2006-2020)” (now known in the West as the MLP). Bland as the title may be, the MLP describes itself as the “grand blueprint of science and technology development” to bring about the “great renaissance of the Chinese nation.”
If you care about the global economic future whatsoever and if you only read one document this year, this one should be it.
Meanwhile, where is the United States’ attention going? Barack Obama’s speech the other night said we are going to win the future through all pulling together and using all kinds of clean energy and competing. But while all that great stuff comes to pass, Mish points out that the United States is still stuck fielding armies in 140 countries. This isn’t a condemnation of such a military strategy, it’s just a question: Since China isn’t stuck doing things like this, are they free to pursue other strategy and execute them well?
This is the official trend blog of Competitive Futures, a management consultancy that provides trend research and analysis for business and government around the world. Here, we update you on interesting trends we see as part of our work for our clients.
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