Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
On November 29, the British magazine The Economist published an article titled "The Next Area China Will Dominate: What China's Rapid Innovation Means for the World." The article notes that China is demonstrating rapid progress in both driverless vehicles and pharmaceutical development.
The accelerating revolution in driverless taxis could transform the transportation and logistics industries, as well as everyday life in cities. The cost of producing such taxis in China is only a third of that in the US, and Chinese manufacturers have already established partnerships in Europe and the Middle East.
In the pharmaceutical industry, China has transformed itself from a generic drug producer into the second-largest country in the world in terms of research and development of new drugs. Today, many Western competitors are acquiring patent licenses from Chinese companies, and it seems the emergence of Chinese pharmaceutical giants is just around the corner.
The successful development of these two industries clearly demonstrates China's innovative model. A large talent pool, a vast manufacturing base, and the sheer scale of production combine to enable China to rapidly advance up the global value chain.
More surprisingly, a flexible and open regulatory system has been a key element of China's success. After China announced its goal of becoming a global biotechnology power in 2016, the country quickly implemented a series of reforms. China also pioneered experiments in self-driving taxis.
Affordable Chinese medicines are expected to benefit the entire world, especially developing countries. China is no less important for the research and development of Western pharmaceutical companies; a mutually beneficial symbiotic relationship may even develop between them. As for driverless taxis, they will likely follow the traditional path of Chinese technology exports: facing barriers in the US market, they will be able to gain a foothold in other regions of the world.
How should the rest of the world respond to this trend? Mindless protectionism under the guise of "safety" is undoubtedly wrong. For the West, blocking or restricting access to Chinese innovations will deprive consumers of cheaper and higher-quality medicines and transportation services.
Western economies therefore need to rethink their own innovation mechanisms. If the West intends to remain competitive in driverless vehicles and pharmaceutical development, it must learn valuable lessons from China's experience in low-cost innovation.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.