China’s monopoly: can the West afford to stop doing business with Beijing?

Monopoly risks are emerging as China leads the U.S. in the rapid development of new technologies

 
Western democracies are losing the global technological competition, according to analysis from one Australian think tank.

The Australian Strategic Policy Institute’s (ASPI’s) Technology Tracker underpins the development and control of the world’s most important technologies.

It shows China has built the foundations to become a pioneer in the science and technology markets.

Beijing is on course to turn high-impact research into practice across a variety of critical emerging technology domains.

“What it’s meant to do is look at where the current state of lay is and really identify where there are problems or challenges,” said Dr John Coyne from ASPI.

“When you have a single country dominating supply chains, be that in the U.S., Australia or Europe that’s not necessarily beneficial for the whole of the world.

“Competition in these areas is really really important. It drives innovation but it also ensures that we don’t see a proliferation capabilities in a single country,” he said.

The Technology Tracker shows China’s global lead extends to 37 out of 44 technologies.

These includes fields across defence, space, robotics, and artificial intelligence.