Political Economy of Digitalisation and (State) Neoliberalism in China
Political Economy of Digitalisation and (State) Neoliberalism in China with Special Reference to 'Made in China 2025
by Professional member of the Institut de diplomatie publique- Reghunadhan, Ramnath (Doctoral Student, Department of Humanities and Social Sciences (IIT-M), Chennai, Tamil Nadu, India)
Abstract: The emergence of cyber-physical systems and digitalisation have but transformed the industrialisation process(es) as well as the global power politics. Currently, China is emerging as a leader in innovation with regard to technologies like the Internet of Things (IoT) related Industrial Revolution (4.0) and is in a transitionary period of integrating it into its manufacturing sector.
It is estimated to have the largest growth rate in terms of spending on research and development for the new ‘Technological Revolution’ and is only behind the leading power USA. Recently, with the institutionalisation of ‘Made in China 2025’ strategy, China intends to incorporate the digitalisation process that could help achieve its goal to become a world superpower in manufacturing.
Key-words: Digitalisation, China, Political Economy, ‘Made in China 2025’, State Neoliberalism, Technology