The Made in China 2025 amid hyperglobalization
upgrading, intangible assets and internationalization strategies
Abstract
This paper investigates the Made in China 2025 (MIC2025) initiative and how it tackles some of the challenges of organizing international production networks amid hyperglobalization. First, we added a descriptive analysis based on value-added trade measures to illustrate some aspects of the Chinese specialization pattern, drawing on the ICT industry as a case study to discuss the growing importance of intangible assets and how Chinese firms improve innovation capability through internationalization strategies. Second, we discussed MIC2025’s background, reviewed its strategic objectives, and explored its main challenges. Our findings suggest that the Chinese government aims to improve Chinese enterprise's ability to manage power relations in global innovation governance through innovation capability and upgrade in key industries, as is the case of the ICT sector. In that sense, building local technological capacities and strengthening value chain stages, as well as the internationalization of Chinese companies, are crucial bases of the recent Chinese structural transformation.
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