The degree of scrutiny on the manner and means of transition will likewise be intense, particularly given the rise of techno-nationalism and a changing strategic calculus around the world. China is attempting to balance the reliance on overseas sources of technology that has served it so well, with efforts to strengthen purely domestic innovation capabilities, not least as a hedge against the risks of a US-led "decoupling".
In these circumstances, a better understanding of the many different forces of change within China — and the way it responds to outside changes — is essential. The evolution of China’s innovation economy will be one of the key economic stories of the early 21st century, and the world will need China as a source of innovation in the decades ahead. The aim of this book is to help build a better framework for policymakers overseas and in China to find a new equilibrium in negotiating the terms of this engagement.