China is set to overtake the US in high-tech and advanced military manufacturing by 2035, the prominent Chinese strategist Lu Yongxiang has written in the Chinese Journal of Mechanical Engineering.
In a commentary published last month, and cited by the South China Morning Post, Lu said that the US’ competitive edge in these industries was diminishing and described the decline in global demand for US-made tech and military products as “an irreversible trend.”
While the US does remain the top producer of both types of products, Lu argued that China “will surpass the United States and become the global leader” within the coming decade.
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Lu is the former vice-chairman of the National People’s Congress and former president of the Chinese Academy of Sciences. He served as the director of the expert advisory board for the Made in China 2025 programme under the State Council.
China has ramped up its investments in advanced manufacturing in recent years – underscoring the country’s drive for self-sufficiency in the face of geopolitical pressure from the US. Earlier this year, the US stemmed the flow of semiconductors to Huawei, citing national security concerns. (The telecoms giant has strongly refuted that it poses any threat to Washington.)
In the first half of 2024, financial media outlets reported that China invested US$20 billion in chip making equipment – more than the US, South Korea and Taiwan combined.
