What is driving the explosion of Chinese exports, which hit almost $US4 trillion ($5.7 trillion) last year? That question is creating deep angst among non-Chinese policymakers amid fears of a second “China shock”.It is an issue I have been considering myself recently, having just crossed China in an electric vehicle Silk Road convoy, where I saw up close the startling quality of its EVs, green tech and artificial intelligence. Witnessing all that, it is hard not to worry about how others will compete.Financial TimesSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
China is smarter about subsidies than everybody else
The world’s second-biggest economy is backing strategic businesses, like green tech, while the West props up old sectors with political clout, like agriculture.
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