Is the race for technological supremacy really a plus for Beijing?
For decades, China has poured resources into the real estate sector, generating a colossal bubble. Now it is investing in high-tech, generating excess production capacity that does not really boost the economy. Millions of rural workers displaced by construction are unable to find work in innovative sectors that create little employment. The alternative would be to invest in the 900 million Chinese who live on ten dollars a day.
