Existence Of China In Reaping The Power Of Technology
Technology and China has a long connected history back in times marking numerous Western innovations as - gunpowder, the compass, the papermaking and printing. Catastrophies and humiliating defeats in the last imperial era, sourced the aspirations for developments in science and technology. However, at times of 1900s,
The country's biggest challenges were to feed and improve the living standards of a vast and growing population.
Since the modernization of technology, chinese solutions were the cheapest with China's National Government policies in place to take over the international market. An Article of Industry Week, reported few notable points as, chinese companies receives a VAT refund from the governement for exports including the government's unbalanced tariff facilities providing relaxation on exports. Apart from these, other strategies involve "Dumping" of a product below the cost of production only to devoid competition and to capture the international market.
China undervalues their currency by an estimated 30%-40%, which simply makes every product that China ships out 30-40% cheaper than those of a potential American competitor.
Debates have prevailed on comparing the leading technological advancements of China and Japan. However, as per the Patent Corporation Treaty (PCT) of World Intellectual Property Organization (WIPO) statistics database as on March, 2020, U.S. had the most patent applications till 2018, whereafter the China superseded to become the top of all, followed by U.S. and Japan.
China has become the world's biggest agricultural patent applicant with more than 612,000 patents from 2015 - 2019. However, further insight into the population density of the countries, Japan has more patents per million than China. Statistics report shows that, Japanese student's Science performance ranks first among the 34 OECD (Organisation for Economic Co-operation and Development) countries, further stating,
Japan spends around 3.59% of GDP in public spending on education.
6G Technology
With lightning fast advancement to technology, where countries are implementing 5G cellular networks marking a breakthrough of performances, China has already started testing 6G technology. On November 6, 2020, the country has successfully launched the world's first 6G communication test satellite from Taiyuan Satellite Launch Center to extend further connections in space networks to carry out terahertz communications test in validating satellite high-speed technology.
As 5G brings forth improvements to network connections and performance in Artificial Intelligence, Samsung's vision proves the power of 6G to set in motion the next hyper-connected experience. Explained by the head of the Advanced Communications Research Center, Sunghyun Choi,
While 5G commercialization is still in its initial stage, it's never too early to start preparing for 6G because it typically takes around 10 years from the start of research to commercialization of a new generation of communications technology...
Though Chinese applications and technological advancements prove to be way ahead of other countries, latest regulations by the Governments of many countries are imposing restrictions on the import of Chinese products. Even companies as Google, Microsoft, Apple are shifting their production facilities from China to other parts of South East Asia. India is however preferred to be the next cheapest labour intensive country with explorable potential of technological growth in AI.