Florida Senator Marco Rubio released a report titled “The World China Made: ‘Made in China 2025’ Nine Years Later.”
The Republican Senator’s report reviews the successes and failures of Communist China’s “Made in China 2025” industrial policy. It is the sequel to Senator Rubio’s 2019 report titled “‘Made in China 2025’ and the Future of American Industry.”
The Florida Senator’s report finds Beijing has succeeded in conquering four of the 10 high-value, high-technology sectors it targeted:
- Electric Vehicles. China exports more electric vehicles (and internal-combustion vehicles) than any other country.
- Energy and Power Generation. China is the technology leader in nuclear reactors and controls over 80 percent of the global solar power supply chain.
- High-Speed Rail. China’s infrastructure development efforts have produced a remarkable 28,000 miles of high-speed track.
- Shipbuilding. China’s shipbuilding capacity now exceeds the United States’ by a factor of 200. It also bests that of other shipbuilding powerhouses.
Senator Rubio’s report finds Beijing has partially accomplished its goals in five sectors:
- Aerospace and Aviation. Beijing’s commercial aviation industry disappoints, but its space industry is relatively successful, and Chinese drone-makers have captured 90 percent of the commercial U.S. market.
- Biotechnology. Chinese biotech companies still depend on Western capital and expertise, but they are producing novel drugs and therapies.
- New Materials. China has built up a vast research and development base for new materials, even if that base’s results remain underwhelming.
- Robotics and Machine Tools. Chinese robotics firms are steadily encroaching on international firms’ domestic market shares.
- Semiconductors. U.S. export controls have failed to derail Beijing’s microchip champions, which are approaching world dominance in the production of “legacy” chips.
In only one sector, Agricultural Machinery, has China outright failed. Meanwhile, China has attained research leadership in 37 out of 44 critical technologies, runs ahead of the pack in “smart” manufacturing, remains the undisputed giant of basic industrial inputs, and swamps global rankings of the largest companies by revenue.
“The Chinese Communist Party controls the largest industrial base in the world,” said Senator Marco Rubio. “Through theft, market distorting subsidies, and strategic planning, Beijing now leads in many of the industries that will determine geopolitical supremacy in the 21st century. This report should serve as a wakeup call to lawmakers, CEOs, and investors. We need a whole-of-society effort to rebuild our country, overcome the China challenge, and keep the torch of freedom lit for generations to come.”
In light of these successes, Senator Rubio’s report urges policymakers to protect Americans from Beijing’s predatory tactics and implement targeted industrial policy to rebuild the United States’ ailing economy.
Read the full Rubio report on China here.
