Foreign media: Columbia University professor Adam Tooze points out that while the "China Shock" of the early 21st century represented China catching up with the West, today's "China Shock 2.0" is China redefining the boundaries of economic possibility across numerous manufacturing sectors—including aviation, aerospace, artificial intelligence, telecommunications, semiconductors, robotics, nuclear energy, quantum computing, biotechnology, pharmaceuticals, solar power, and batteries. This structural shift demands adaptation from the West rather than reliance on protectionism.
A report from the Centre for European Policy Studies similarly warns that ignoring these structural changes and overemphasizing protectionism will harm long-term growth for all parties involved.
Tooze summarizes four radical forces defining this moment: Trump’s trade policy run amok, the U.S. fiscal policy losing control, the AI boom, and China’s upgrading and shifting economic policies.
Original article: toutiao.com/article/1864005381753868/
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