China has announced plans to centralize its technology development efforts under the control of the Communist Party, a move aimed at navigating through US trade curbs designed to limit its technological advancement, according to a CCTV report. This decision has sparked a wide range of reactions, from skepticism about the effectiveness of such a strategy given the previous crackdowns on major Chinese tech companies and the impact on investor morale, to outright criticism of the approach as being counterproductive to innovation, with references to Friedrich Hayek's views on centralized planning. Critics argue that technology development cannot be effectively dictated by party mandates and that this move could further stifle the entrepreneurial spirit and innovation within the country.
1. This has good idea written all over it. If there is one thing we know it is that centralizing tech development under Communists works well 2. I can't wait to hear all the reports and op-eds suggesting China engage in market reform to boost growth. They're going to be awesome https://t.co/oAYR2iDc6c
#China exerts grip on tech as #Beijing expands economy control The Party will refine a mechanism through which top decision makers on the Central Committee steer technological work, according to a CCTV report. https://t.co/pGyY24zXGU
Comrades, good luck with this. Really all the best. Friedrich Hayek says hello. âĒī¸ "China Vows to Centralize Tech Development Under Communist Party" https://t.co/ZBC6KfMnxN
China escalates tech development drive, vows centralized party control https://t.co/lgM5wXoBTK https://t.co/nkgkebkqzp
China vows to centralize tech development under Communist Party https://t.co/0A7E6bJdhk As if the CCP hasn't screwed up things badly enough in other areas. Tech does not get created by Party diktat.
So let me get this straight. After brutally cracking down on major Chinese techs and destroying the morale of entrepreneurs and investors in the space, now CCP leadership is waking up to how important it is for the country's economic future? I'll believe this when I see action. https://t.co/Ztd9LwELjz
So let me get this straight. After brutally cracking down on major Chinese techs, destroying the morale of entrepreneurs and investors in the space ... now CCP leadership is waking up to how important it is for the country's economic future? I'll believe this when I see action. https://t.co/czG0U0Qb0N
China vows to centralize technology development as the country navigates US trade curbs designed to limit its advancement https://t.co/OwzficOA8k