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Showing posts with the label “command economy”

Is China Winning the Innovation Race?

It is a recommended long read , but subject to subscription access. Volkswagon's driverless car, a forerunner to completely driverless cars, has taken the German company about 18 months to develop, test and now commercially deploy — all in China. It is the fruit of a 700-person research and development team comprised mostly of Chinese software engineers with masters or PhDs and more than five years’ experience.  produced in China. Asked how long it would have taken to deliver something similar back home, Hafkemeyer, who worked with Audi, Chinese state-owned auto group BAIC and tech giant Huawei before joining VW in 2022, sighs with exasperation. Typically, he says, the technology development cycle in Germany is a slog of around four to four-and-a-half years, where ideas are bogged down in endless internal debate and commercial negotiations with suppliers. For decades, China has been the world’s factory and companies have tapped into a low-cost labour force with few protections and ...