Americans invented the core high-technologies that enable the modern digital age, but they didn’t get a large share of the jobs created by these new industries. High-tech is dominated by Asia, where governments target its growth as vital to their economic development. The relationship between industry and the state is tight. In countries like China, Taiwan and South Korea, government-corporate partnerships provide patient capital, skilled workers and protection for intellectual property.
Their progress has been remarkable. Between 1999 and 2014, the World Bank reports, global exports of high-technology products (computers, aerospace, electrical machinery, pharmaceuticals and other “R&D intensive” products) rose by about 220%. China’s share of that soared to 26% from 3%. America’s fell to only 7% from 18%.
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Technology, The Fastener Museum
