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China's previous dominance in this sector has afforded it a strategic geopolitical advantage, but the emergence of new production sources poses a significant challenge. The study warns that such diversification could reduce Beijing's leverage in global markets, ultimately changing the dynamics of international trade.

China's Industrial Policies: An Overview

The discussion on China's economy does not end here. A report from the Rhodium Group details how China's industrial policies contribute to widespread market distortions. Unlike the more narrowly focused subsidies typical in Western nations, China’s state-driven policies impact entire value chains, utilizing a range of tools to foster domestic firms.