*For the sake of being concise, this article will not discuss much of the affects of the COVID-19 (otherwise known as the Coronavirus Disease).*
Contrary to common stereotypes and beliefs that China is in a state of decline, and taking into account the Trade Wars with the US and the outspread of the Coronavirus (although I won’t be talking about it much in this article), with the current state of technology in China and the “Made in China 2025” plan issued by Premier Li Keqiang, professors of economics believe that China will soon catch up and surpass other highly developed countries in terms of well-being.
Yes, although there are evidence pointing towards decline of China’s GDP, that doesn’t not entirely mean that the overall well-being is in decline. In fact, “Made in China 2025” could achieve the triple bottom line.
What is the Triple Bottom Line and how does it relate to MIC 2025?
In short, it is a framework/theory that revolves around the Economic Bottom Line (Profit), Social Responsibility (People), and Environmental Sustainability (Planet) and how people and companies should spent an equal amount of time on all three as they are all connected and if you do not meet one of the bottom lines you will most likely not do well in the other two bottom lines.
MIC 2025 is aiming for better information technology, railway equipment, clean energy, new materials, and thus looking at the environmental sustainability. MIC 2025 looks at social responsibility, through changing from a low-end manufacturer to a high-end producer, and in this way the world will not have to rely on one main manufacturer and risk an economic crash in the case of something bad happening to China. They are also creating more jobs by creating sub-projects like the 863 Program. MIC of course also aims to profit, as the development of new phones such as Huawei and wifi networks such as the 5G network will inevitably bring in profit.
Effects on Stakeholders:
As mentioned above, MIC 2025 aims to achieve high tech developments and reduce manufacturing for production. Although initially companies may be upset by the reduction in manufacturing, it is more safe and better for countries like Australia if they did not have to rely on just one main manufacturer. It also means that other countries can get more income through manufacturing.
MIC 2025 looks at high-end technology industries, and are looking to develop not only technology that will help the country (such as clean energy and other production methods), but also everyday technology such as phones (Huawei, valued at), 5G network, Wechat (Wechat Pay, can be used for business, socializing, news etc.) This all are worth billions and investors should definitely look into them.
If I had a fund, I would look into buy shares for Wechat, or any of the fast growing technology related companies. I am excited to see what 5G will bring us and how China develops as a technology hub, and competing with other countries.
Bibilography:
https://www.telegraph.co.uk/connect/better-business/business-solutions/china-technology-innovation/
https://www.foreignaffairs.com/articles/china/2019-08-27/chinas-long-march-technological-supremacy
https://thediplomat.com/2018/08/understanding-chinas-technological-rise/
Year 11 MHS Economics 2020 
Good topic, it will be interesting to see who or where becomes the next manufacturing hub if China plans to transitions away from manufacturing. I can see other developing Asian or African countries picking up the demand in manufacturing and I wonder what the economic result will be.
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Good topic. I wonder if China will be able to accomplish this plan by the deadline.
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Very interesting! Although this seems hard to achieve, I’d say China will be able to pull through by 2025.
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Extremely good use of the triple bottom line! Love the images, very good representation of the content! Keep it up John!
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