Half of the technologies were imported by foreign-invested enterprises, with a total value of $11.3 billion, an increase of 36.7 per cent year-on-year.

This is a fundamental number. It flags that China is still, to a large extent, an "offshore manufacturing base", cut to a large extent form the rest of its economy, and used by Western (including rich Asia) manufacturers to offshore some of their facilities (to service Asian markets, and to keep pressure on their home labor).

Only a tiny slice of Chinese, and international shareholders profit.


In the long run, we're all dead. John Maynard Keynes