National emblem of the People’s Republic of China (Photo credit: Wikipedia)

Xinhua, the leading Chinese news agency reports that Chinese engineers from Nankai University in northern Tianjin have created a car that can be controlled by nothing but your mind.

Source: Mind-controlled car created in China – Xinhua | English.news.cn

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.

It’s worth reflecting why the invention happened in China rather than Japan, Germany or even the US?

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?

Thoughts?