"China Opportunity 2.0" does not imply that Beijing will appropriate a bigger share of the global manufacturing pie going forward, but rather it would help the world to bake a larger one as Chinese industrial capabilities become increasingly embedded in global supply chains, multinational executives and industry experts said.
They made the comments after the country highlighted "China Opportunity 2.0", a new concept of growth driven by innovation, advanced manufacturing and deeper integration with the global economy, at the 17th Annual Meeting of the New Champions of the World Economic Forum, also known as the Summer Davos, in Dalian, Liaoning province, in June, pushing back against the Western rhetoric of the so-called China Shock 2.0.
Speaking about the concept, Joerg Gnamm, head of global manufacturing at consulting firm Bain & Company, said: "China's next phase of growth will be defined not simply by producing more goods, but by exporting advanced manufacturing capabilities, industrial know-how and scalable innovation.
"It is not only about China capturing more of the pie. It is also about Chinese capabilities being combined with global ecosystems," he added.
As geopolitical tensions prompt some multinational companies to diversify production, debates have intensified over whether China's expanding manufacturing capacity is crowding out industrial economies elsewhere, a claim that China has repeatedly refuted on various occasions.
