“Bad loans and debt distress have cost China’s government economically and politically, both at home and abroad, and have made Beijing realize that the bilateral approach on its own isn’t enough.”
A heavy focus on industrial development by state-owned companies in China following the 20th National Congress doesn’t bode well for digital technology companies already suffering from regulatory crackdowns, says Henry Gao. Tech giants have been severely punished while state entities are free to collect citizens’ information. China is focused on protecting the value of its massive data collections and ensuring data security.
As Alex He and Robert Fay noted following a workshop on digital governance in China, this may create obstacles to digital trade just as China looks to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. But Daniel Araya says not to count out China, tracing developments in renewable energy and AI. “As China’s technology empire continues to rise, a new global order is rising with it,” he noted.