A lack of innovation is China's 'Achilles heel', President Xi Jin...
BEIJING - A lack of innovation is China’s “Achilles heel”, President Xi Jinping warned in an article given high prominence by state media on Thursday, where he also bemoaned the economy for being big yet without being strong.
In the piece, re-published as the economy faces strains during a protracted trade war with the United States, Xi takes an unvarnished look at the problems the country faces. China’s technological prowess is still at the low end of the global value chain, and the “reserves” the country has for science and technology are far from enough, he added.
Lack of market access for foreign firms has been one of the causes for the current U.S. trade dispute with China, a complaint echoed by the European Union, China’s largest trading partner.
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