China’s strategic approach to technology investment has been hailed by the CEO of trade group CTA (Consumer Technology Association) at CES Asia, an ICT exhibition which is currently being held in Shanghai. CTA CEO, Gary Shapiro, claimed that China has taken a successful US model and improved on it – highlighting the country’s sharp focus on technology and innovation as the primary reason for its success.

Shapiro said, “China has adopted a strategy that makes a lot of sense, and is similar to a strategy the United States had, but it’s even better in some ways. It has made investments in infrastructure, education, and has sharply focused on technology and innovation.”

In addition to this, Shapiro believes that China’s approach has come in a timely fashion, as he suggests that innovation represents an opportunity for countries to address key global challenges during an era of political and technological disruption. He added, “The election of non-traditional candidates around the world, such as Donald Trump and Emmanuel Macron, demonstrates a changing landscape politically, as does Brexit. Both Donald Trump and Emmanuel Macron were candidates which took major political risks, and risk taking is what entrepreneurship and innovation is all about.”

The CEO of CTA reiterated frequently throughout his keynote address that whilst society faced a number of challenges on a global scale, technology is the key factor in overcoming many of these problems. Issues in education, healthcare and transport can be reduced and eradicated if society embraces cutting edge technology innovation – he pointed to the adoption of self-driving technology and automation as a way in which society could be transformed. Whilst he conceded that the fact new technology and automation holds the potential to significantly impact the workforce, he noted it also “provides a way forward”.

He concluded his presentation by saying, “We’ve come a long way since the invention of the wheel. Since the invention of the motorized car, the airplane, the radio, the telegraph, the telephone, and the internet itself, and many jobs were replaced. But many of us - including almost everyone in this room have started new jobs which were created because of innovation and technology.”