This is an amazing technological achievement. But it’s especially significant for China and the Chinese leadership. It provides evidence of China’s technological maturity and reminds foreign critics that China is adjusting to a slower growth trajectory. Too many westerners still think that China is still just the world’s source of cheap manufacturing of consumer goods.
I suggest that their government policy does not sponsor investment, especially investment in technology with the right degree of priority – big business in the West has become too risk averse. A simple fiscal adjustment would be to give double tax deductions for investment and triple deductions for technology investment?