As usual, the ABC's Foreign Correspondent has done a terrific job at looking at China's decision (prompted by Western bans) to accelerate its own tech infrastructure:
While the US has long had the edge in tech, China is catching up fast, investing heavily in AI, robotics, 5G and 6G, microchips and surveillance technology.
US President Joe Biden is planning a $330 billion package to rev up the US's investment in R&D, having noted its strategic competition with China is nothing less than a battle to "win the 21st century".
I have to say that I am being pretty impressed with China's rapid advances in space technology - although as I have noted before, they don't seem to have been able to replicate it in the aviation industry, generally speaking. Still not 100% sure why that is...
It will be fascinating to see how this plays out in future. I find the idea of a government controlling a digital currency by setting an expiry date on its use to be the most fascinating control proposal - and I doubt anyone has a good idea how it would play out in real life economics.
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