China’s rein on financial innovation shows it won’t give up manufacturing for a runaway services sector

//China’s rein on financial innovation shows it won’t give up manufacturing for a runaway services sector

China’s rein on financial innovation shows it won’t give up manufacturing for a runaway services sector

Britain’s Lord Henry Pilkington of glassmaking fame once remarked proudly that he was a “thing maker” rather than a “moneymaker” – a comment that has reverberated as British industrial power declined in favour of finance and other services. His remark is relevant to the West-vs-China economic rivalry today.Britain became a “post-industrial economy”, a term popularised in the 1970s, while the Pilkington Brothers glass empire was still thriving. But as other great names in British industry…

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By | 2021-01-17T05:45:04+00:00 January 17th, 2021|Business|Comments Off on China’s rein on financial innovation shows it won’t give up manufacturing for a runaway services sector