German Media: China's "Five-Year Plan" - A Warning or a Death Knell for European Industry?
The "Business Daily" comments that China is launching a new offensive in the technology fields currently dominated by Germany and Europe, and Europe must respond in a timely manner, otherwise it will be difficult to avoid being eliminated.
The "Business Daily" comments that China's upcoming new round of Five-Year Plan clearly indicates the country's ambition to dominate in the field of technology, and this ambition poses a significant challenge to the European industrial system: In short, Europe may not only lose the Chinese market, but also the global market and even its domestic market could be occupied by Chinese products. The article titled "The Five-Year Plan Sounds the Alarm for European Industry" comments:
"Over the past 20 years, the Beijing leadership has systematically established industrial capacity, promoted innovation research and development, and invested substantial funds in strategic technology areas and supply chains. Now, China hopes to build a new innovation ecosystem on this basis to promote industrial transformation. After the success of the 'Made in China 2025' industrial strategy, China has launched a new large-scale technological offensive based on this, with the aim of making China a global leader in future industries."
The intensifying Sino-US geopolitical competition has brought new momentum to the high-tech sector.
The focus of the new industrial strategy happens to be those technological areas where China still relies on European companies, such as chips, robotics, biotechnology, and quantum technology. In these areas, European companies still have a strong global position. China is now investing heavily in these areas with the aim of establishing its own technology and production capabilities."
The author of this guest commentary from the "Business Daily", Wolfgang Niedermark, a member of the board of the German Industry Association (BDI), wrote that, at present, Germany and Europe still hold an irreplaceable dominant position in some technological areas. However, the seven-thousand-word "14th Five-Year Plan" issued by Beijing is undoubtedly a warning for German industry:
"We must defend our remaining leading position in technological fields, and if necessary, we can even use defensive tools at the level of trade policy. These technological fields include complex machinery, precision components, and special industrial facilities."
While Beijing is using a large amount of resources to reduce technological dependence and expand industrial dominance, Europe is endlessly discussing regulations and processes. Future competition will be determined by high-tech industries: mechanical manufacturing, industrial software, and the climate neutrality and digital transformation of industrial technology, all are no exception.
If Germany and Europe do not want to become insignificant in the economic and technological fields, we must immediately improve efficiency and speed in innovation, investment, and expansion of industrial scale. With the implementation of the "14th Five-Year Plan," competition with China will become more technologically driven and influenced by industrial policies. If Europe does not want to be left far behind by China, it must react quickly and decisively."
Original: toutiao.com/article/1860129277769728/
Statement: This article represents the views of the author himself.