BEIJING: US officials have a name for their frustration with Beijing's technology ambitions: ``Made in China 2025. ''Issued in 2015, it calls for China to develop its own global competitors in fields from information technology to electric cars to pharmaceuticals. The US Trade Representative's Office cited ``Made in China 2025'' in announcing last week a $50 billion list of Chinese goods targeted for President Donald Trump's tariff hike.Many countries have similar plans. They say ``Made in China 2025'' is especially alarming because it declares that new industries will be controlled by wholly Chinese-owned champions.A deputy Chinese commerce minister tried to defuse such criticism by telling reporters last week ``Made in China 2025'' is open to foreign companies.WHICH INDUSTRIES DOES IT TARGET? :Business groups and foreign governments say ``Made in China 2025'' relies heavily on subsidies and market barriers that hamper competition.The plan draws heavily from Germany's ``Industry 4.0'' strategy.

Source: Economic Times April 12, 2018 06:22 UTC