China wants to own the 21st Century economy. That's why Beijing economic planners have mapped out a full-on strategy called Made in China 2025 to dominate in artificial intelligence, robotics, electric vehicles and other key sectors. The government is spending big on tax breaks and subsidies to get these industries off the ground quickly. Call it industrial policy on steroids.
The US and European Union chambers of commerce in China both warned in March the country is becoming more closed to foreign business, and its Made in China drive will make matters worse. (The Chinese government says the playing field remains level for local and global firms.)
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