Welcome to the Chinese century
Competition between the US and China will shape the 21st century, but have the Chinese already leap-frogged the Americans? It looks as if they might have done. Since China opened itself up to trade and market economics under Deng Xiaoping almost 50 years ago, it has been furiously chasing the US in terms of economic and technological development – and it’s been catching up, fast. We can prove just how fast by measuring its innovation and output per capita. The US has about a quarter of China’s population, so if both countries were at a similar level of economic and technological development, one would expect China to produce roughly four times the number of scientific breakthroughs as America, four times the number of physicists and AI engineers and so on.