DI GUO and CHENGGANG XU
History has consistently shown that industrial revolutions require free institutions and robust demand to support ongoing entrepreneurship and the commercialization of new, productivity-enhancing products and services. With its system of totalitarian party-state rule, China checks none of these boxes.
STANFORD – AI is widely recognized as the core technology in an emerging industrial revolution that will probably transform every facet of the global economy. UN Trade and Development (UNCTAD) estimates – conservatively – that the global AI market will reach $5 trillion by 2033, thanks to average annual growth of about 31%. The International Monetary Fund predicts that the technology could boost global GDP by 4% over the next decade, with the United States gaining as much as 5.4%. AI’s impact on science, innovation, the military, and geopolitics is already significant, reinforcing the sense that the race for AI dominance is also a race for global dominance.
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