 The Power of Technology in the US and China: A ComparisonA chapter in Comparative Economic Studies in Europe, 2021, pp 321-354 from Palgrave Macmillan Abstract: Abstract Technology is a key factor for economic development and economic power. This chapter tries to evaluate the sources and the impact of technological power and its changes in the US and China in the 2000–2018 years in a comparative way. The analysis of capital accumulation, education, R.&D. activities, learning by doing processes, industrialization and de-industrialization, structural change, and the different stages of the Fordist model of development, contributes to explain why at present the US is the top world technological power and why China has been rapidly catching up since the radical economic reforms started in 1978. The two giant economies have unevenly grown in capital formation, knowledge and exports and in key-sectors, such as ICT, motor vehicles, energy, renewables, etc. At present, in some niches or sub-sectors China has already exceeded, or will soon exceed, the US, given the larger demographic and industrial size and the still higher dynamism of the economy. Keywords: Technology and economic development; American economy; Chinese economy; O47; O51; O53; P52 (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pal:stuchp:978-3-030-48295-4_16 Ordering information: This item can be ordered from DOI: 10.1007/978-3-030-48295-4_16 Access Statistics for this chapter More chapters in Studies in Economic Transition from Palgrave Macmillan |
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