"Innovation abounds in the realm of copying technology"
In a captivating lecture at Pforzheim University's Studium Generale, Frank Sieren, a renowned German China specialist, delved into the complexities of China's rise as a global power. Titled "Superpower China: Inevitable Ascendant or Colossus on Shaky Grounds?", the talk attracted around 400 guests in person and another 200 via livestream.
Sieren, known for his realistic evaluation of China's rise and early warnings not to underestimate it, discussed the challenges and opportunities that China's ascendancy presents. He highlighted several key issues, including geopolitical tensions with Western powers, navigating differences in political systems and values, managing global supply chain dependencies, and addressing environmental and human rights concerns.
However, Sieren also emphasised the opportunities that China's rise brings. He pointed out the potential for enhanced global economic growth through China's growing markets and investments, increased cultural exchange and mutual understanding, cooperation on global challenges like climate change, and technological innovation and digital transformation.
Sieren also shed light on China's significant strides in various sectors. He noted how China initially traded with Hong Kong and then with the West, and the 1980s were a time of great optimism as China continued to develop. He explained that China was once a world power, but missed the industrial revolution that took place in Europe in the 19th century due to success-induced arrogance. However, this has changed, with China now focusing on rising back to a 30% share of the global economy through innovation.
One such example of China's technological advancements is its approval of autonomous flying passenger drones for everyday use, a significant step in technology. China has also made significant strides in electric mobility and battery research, setting new rules in the global automotive market.
Moreover, Sieren discussed China's efforts to develop an alternative to the US dollar as a reserve currency, which is noteworthy. He also highlighted the BRICS countries' catch-up in terms of economic development, leading to a shift in the world order.
Despite the challenges, Sieren believes that the term "epochal change" is particularly fitting in reference to China due to its rapid development over the past decades. He pointed out that China's per capita income is around Bulgaria's level, indicating growth potential and not yet at its peak.
Sieren, who has been living in Beijing for almost 30 years and has written numerous bestsellers about China, also touched upon the youth unemployment issue in China, which stands at around 20%. However, he assured that it is cyclical and expected to decrease within two to three years.
In conclusion, Sieren sees the world facing three major challenges: coping with climate change, digitization, and a world in transition, at the end of which a new world order could stand. As China continues to rise, it is crucial for the West to understand and navigate these challenges and opportunities effectively.
Artificial-intelligence will play a significant role in China's digital transformation, as seen in their approval of autonomous flying passenger drones.
The technological advancements in China, including electric mobility and battery research, aim to secure their 30% share of the global economy through innovation.
