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2021 | OriginalPaper | Buchkapitel

The Power of Technology in the US and China: A Comparison

verfasst von : Vittorio Valli

Erschienen in: Comparative Economic Studies in Europe

Verlag: Springer International Publishing

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Abstract

Technology is a key factor for economic development and economic power. This chapter tries to evaluate the sources and the impact of technological power and its changes in the US and China in the 2000–2018 years in a comparative way. The analysis of capital accumulation, education, R.&D. activities, learning by doing processes, industrialization and de-industrialization, structural change, and the different stages of the Fordist model of development, contributes to explain why at present the US is the top world technological power and why China has been rapidly catching up since the radical economic reforms started in 1978. The two giant economies have unevenly grown in capital formation, knowledge and exports and in key-sectors, such as ICT, motor vehicles, energy, renewables, etc. At present, in some niches or sub-sectors China has already exceeded, or will soon exceed, the US, given the larger demographic and industrial size and the still higher dynamism of the economy.

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Vorheriges Kapitel Is (Post-Communist) China Becoming a Dominant Economic Power in South East Asia?

Nächstes Kapitel Electronic Commerce—Markets, Competition, and Social Welfare: A Clash with History of Economic Thought

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Titel: The Power of Technology in the US and China: A Comparison
verfasst von: Vittorio Valli
Verlag: Springer International Publishing
Buch: Comparative Economic Studies in Europe
Print ISBN: 978-3-030-48294-7

Electronic ISBN: 978-3-030-48295-4

Copyright-Jahr: 2021
DOI: https://doi.org/10.1007/978-3-030-48295-4_16