Along the way, Beijing tamed the industry’s ambition and blunted its innovative edge.
But tech companies and investors also have themselves to blame for falling behind their Silicon Valley counterparts. Even before the government started to impose a stronger hand on them, Chinese tech leaders were laser focused on making money and reluctant to spend on research projects that weren’t likely to yield revenue in the short term. After the government’s onslaught in the past few years,…
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