Of intellectual property ip in business strategy and

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of intellectual property (IP) in business strategy and allowing firms to self declare their own technology standards and help them better participate in international standards setting. Although the goal is to upgrade industry writ large, the plan highlights 10 priority sectors: - New advanced information technology. Automated machine tools & robotics. Aerospace and aeronautical equipment. Maritime equipment and high - tech shipping. Modern rail transport equipment. New energy vehicles and equipment. Power equipment. Agricultural equipment. 20. Scott Kennedy, Made in China 2025”, available at: - china - 2025
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US - CHINA Trade War: Analyses of Deeper Nuances and Wider Implications 20 New materials. Bio - pharma and advanced medical products. Made in China ’ 2025 is different in multiple respects: - It focuses on the entire manufacturing process and not just innovation. It promotes the development of not only advanced industries, but also traditional industries and modern services. There is still a focus on state involvement, but market mechanisms are more prominent. There are clear and specific measures for innovation, quality, intelligent manufacturing and green production, with benchmarks identified for 2013 and 2015 and goals set for 2020 and 2025. China is vigorously pursuing the Made in China 2025 initiative. The Chinese state will not withdraw support for strategic industries, especially those at the core of Made in China 2025. Advancement in these sectors, including infor- mation technology, automated machinery and robotics, aerospace, marine equipment and shipping, advanced rail transport, new energy vehicles, power equipment, agricultural machinery, new materials and bio - pharma and medical, allows the Chinese industries to upgrade and move up along global production chains. They will likely continue to receive financial and policy assistance from the government, as a core part of China s industrial policy and keep trying to acquire advanced foreign technologies and IPs. Actions Taken by China China retaliated by putting tariff of $13.7 billion worth of soybean imports, alongside a little over $3 billion in cotton, sorghum, wheat and corn. China's deci- sion to play its biggest card — soybean imports — is risky. The country accounts for 60 percent of global soybean imports. It receives the majority from two sources - Brazil and the US. It bought a third of total US output last year. Though the Chinese market is important for the American soybean growers, these exports are vital in helping contain food price inflation in China, since these crops are widely used to feed the livestock that satisfy the country s soaring appetite for beef and pork. Though China cannot fully replace the US as a source of soy, it can take several steps to mitigate the impact. China is likely to increase imports from Brazil, increase domestic production and use of domestic stocks and start using alternative feed sources like corn.
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