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China Fast Closing Gap With US in Advanced Tech – SCMP

China’s global share of the advanced technology market leapt from less than 4% in 1995 to 21.5% in 2018, a new report says


The focus of the US-China great power rivalry has shifted to whose economy will grow the fastest this year, amid multiple challenges on the domestic front for both nations.
In China, the annual growth figure has always been the most watched economic datapoint, unlike the US, where inflation and jobless numbers get more attention. File photo: Reuters.

 

China is fast closing the gap with US as its global share of the advanced technology market leapt from less than 4% in 1995 to 21.5% in 2018, the South China Morning Post reported, citing an Information Technology & Innovation Foundation report released on Wednesday.

In comparison, the US market share in seven key sectors, including IT and information services, computer, electronic and optical products and electrical equipment, declined from 24% in 1995 to 22.5% in 2018, putting its competitive advantage under threat, the report added.

Read the full report: South China Morning Post.

 

 

 

 

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Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

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