Already, China is …
• In Top 3 nations for investment in virtual reality, autonomous vehicles, 3-D printing, robotics, drones and artificial intelligence.
• The world’s largest e-commerce market, with 40% of value of transactions.
• In mobile payments, has 11 times the transaction value of the U.S.
• In 2016, the three huge internet giants in China accounted for 42% of all venture capital investment, compared to the 5% total of Amazon, Facebook, Google and Netflix. They also made 35 overseas deals, compared with 20 by the US biggies.
Source: McKinsey Global Institute
Contrast this performance with the newly-announced government desire to control more and more of what's happening. Indeed, in case you missed it, the government intends to begin "rating" each individual on the level of patriotism he/she shows ... formally including everyone beginning in 2020 ... based on participation in various kinds of government-suggested activities.
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Phil, All I can say is YIKES! from several points of view. Our grandchildren had better learn to speak Mandarin. The world, she is changing...and fast! Take Care, Big Daddy Dave
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