In a video describing China's rise in technology, the BBC describes the Chinese plan to transition from a low cost, high quantity producer to a more sophisticated tech giant. The staggering increase in both solar and drone production show us Americans the shrinking gap between our technology and theirs. China has shown its capability to make better substitutes for our market. These advances in technology will provide a growth to their economy, and may be a challenge to beat for Americans. I do wonder however if China will be sacrificing its comparative advantage in cheaply made goods. If the US fails to safeguard its technology and refuses to modernize its software, We will fail to maintain our Absolute Advantage. China…
In a video describing China's rise in technology, the BBC describes the Chinese plan to transition from a low cost, high quantity producer to a more sophisticated tech giant. The staggering increase in both solar and drone production show us Americans the shrinking gap between our technology and theirs. China has shown its capability to make better substitutes for our market. These advances in technology will provide a growth to their economy, and may be a challenge to beat for Americans. I do wonder however if China will be sacrificing its comparative advantage in cheaply made goods. If the US fails to safeguard its technology and refuses to modernize its software, We will fail to maintain our Absolute Advantage. China…