Amid all the trouble facing China—trade war, covid-19, a property slump—the country’s leaders have remained confident about the source of future economic growth. In their view, the country’s manifest destiny lies in high-tech manufacturing. Their “Made in China 2025” plan, released ten years ago, aimed to turn China into a leading factory “powerhouse” by mid-century. The government covets what it calls a “complete” industrial system, which will reduce China’s reliance on foreigners and raise their reliance on it. Xi Jinping, China’s ruler, wants to cultivate “new productive forces” by applying cutting-edge technology to emerging industries, and some traditional ones, too.
