‘China shock 3.0’ to be driven by AI, biotech and robot exports, economist says
The world is on the cusp of a “China shock 3.0” driven by exports of artificial intelligence (AI), biotechnology and robots, which could hit harder than the current wave, a leading economist on China has said. “We are already at the starting point of the China shock 3.0,” Alicia Garcia-Herrero, a senior fellow at Brussels-based think tank Bruegel and chief economist for Asia-Pacific at investment…
Leading economist Alicia Garcia-Herrero foresees a "China shock 3.0" driven by artificial intelligence (AI), biotechnology and robotics exports, potentially surpassing the current wave. Speaking on a virtual panel hosted by Washington-based Peterson Institute for International Economics (PIIE), Garcia-Herrero emphasized that China is already at the beginning of this third wave.
China, while still an importer of advanced chips, plans to develop its AI hardware and software and export them once domestic demand is met. These exports could be accompanied by bundled data center and cloud services, alongside humanoid and industrial robots. Garcia-Herrero highlighted that China's cheap energy would provide the world's lowest computing costs, extending its competitive edge beyond industrial goods to services.
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