Industry

The new space race has begun, this time with American and Chinese commercial space companies competing to become the global aerospace industry leader. While these aerospace companies may be looking at the stars, they do not necessarily have their heads in the clouds, as new innovations are benefitting day-to-day life on Earth and increasing public enthusiasm for aerospace technology. While this is a strategic competition for both sides, the rise of privately-owned space companies will ultimately benefit everyone.

The world around us is driven by commerce. E-commerce has enjoyed particular success in modern society and accounts for over 50% of China’s total retail sales. Online auctions, a maturing segment of the e-commerce industry, is discovering newfound adoption by young wealthier consumers bidding in niche markets like art and nonperforming loans. With bad debt looming on the horizon, this segment may be poised for explosive growth.

China’s agricultural production is inefficient and, in many ways, outdated. Facing growing issues like urbanization and an aging population, China is staring down at major food security issues. Yet, technology may be the answer as farmers in China begin to work with tech giants to increase farm productivity and crop yields.

China’s preferential policy has cultivated a hot bed for blockchain innovation. As policymakers name blockchain as a key driver of the nation’s future economy, domestic SMEs and MNCs have the opportunity to scale along with global adoption of this emerging technology behind some of the greatest economic and social innovations of our generation.

Virtual reality is quickly becoming the technology of the future. China has highlighted the VR industry as an important sector within its innovation strategy, and it is looking to position itself as a global leader in the technology’s innovation, adoption, and production.

China has a love-hate relationship with crypto. It loves the technology but hates the illicit activity. While blockchain will play a vital role as a strategic technology highlighted in national development goals, its ties to cryptocurrency challenge industry development. This has led to harsher regulation of the cryptocurrency space in the hopes that, by separating cryptocurrency and blockchain technology, policymakers can hasten the maturity of the blockchain industry without fear of the social or financial instability associated with crypto.