My recent trip to Beijing and Shanghai has me convinced China is the next technological superpower. <\/p>\n
This blog lays out the data so you can make your own judgment. <\/p>\n
China is the worlds second-largest economy with a GDP of $7.5 trillion, and an average 9.71 percent annual GDP growth (since 1990). <\/p>\n
Check out Shanghai in 1990 (27 years ago) versus Shanghai today. <\/p>\n<\/p>\n
Shanghai 1990 <\/p>\n
Shanghai today <\/p>\n
Recently, China is getting into the venture capital business in a big way. A really, really big way. Venture capital raised in China tripled year over year to $250+ billion in 2016. Thats the biggest pot of money for startups in the world. <\/p>\n
Consequently, China is undergoing a technological renaissance with thousands of startups and dozens of multi-billion-dollar tech companies springing up. <\/p>\n
Companies like Alibaba, Tencent and Xiaomi are capitalizing on Chinas 700+ million Internet users. <\/p>\n
A Chinese delivery company, ZTO Express, raised $1.4 billion in its public debut. This was the biggest US IPO of the year (in 2016). <\/p>\n
China is a manufacturing powerhouse producing 25 percent of the worlds goods and 70 percent of its mobile phones. <\/p>\n
Today there is a list of 600+ Chinese companies waiting to go public. <\/p>\n
Lets talk about manufacturing. 100 million people in China work in manufacturing. FOXCONN is the worlds largest contract electronics manufacturer. Notable customers include Apple, Kindle, Playstation and Xbox. <\/p>\n
In 2015, China became the worlds largest producer of photovoltaic power. China also led the world in production and use of wind power and smart grid technologies. <\/p>\n
China owns 70 percent of the commercial drone market. They havealso increased their space budget considerably over the last few years. And their human spaceflight program is very serious. <\/p>\n
China has truly become an international technology superpower. <\/p>\n
Image Credit: Peter Diamandis via YouTube <\/p>\n
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China Is On its Way to Being the Next Tech Superpower - Singularity Hub<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" My recent trip to Beijing and Shanghai has me convinced China is the next technological superpower. This blog lays out the data so you can make your own judgment Continue reading