China modernizes itself slowly but surely
Photo by Yuangeng Zhang - Shutterstock.com

Today Dutch Newspaper Het Financieele Dagblad published an article from economist and philosopher Nora Neuteboom. She is Strategist at Dasym and is part of FreedomLab’s Expert Team. In this article she describes how China is transforming from a manufacturing industry into a knowledge economy with highly educated employees.

Although China is letting go more and more elements from the Communist era, its five-year plan remains intact. Not because China cannot let go of the planned economy, but because it still attaches great importance to a long-term vision. Planning and patience is deeply ingrained in the Chinese tradition and is also the basis for China’s economic policy.

Innovation is a socialist core value and the word “innovation” occurs about 130 times in China’s new five-year plan. Slowly the country moves from a manufacturing industry which relies on cheap production, to a knowledge economy that depends on highly skilled workers. A process of decades, not months.

For the entire article in Dutch, click here (paywall)