It's the Real Economy, Stupid - The Wire

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In recent months, there’s been a lot of noise made about China’s pivot away from “soft tech” (the internet) to “hard tech” (e.g., semiconductors). It’s an intuitive distinction, because unlike in English, where we use the word “tech” as a catchall, the Chinese language separates “internet” companies from “science & technology” driven ones. Even I was taken in by this easy narrative initially, not least because it would sometimes show up in joking banter with Chinese tech entrepreneurs and employees. But humor is not always reflective of reality, especially when reality has been evident in the form of a steady stream of clarifying government documents and actions related to the tech sector in the last year. In fact, at this point, I’d argue that anyone who insists that China is uniformly suppressing soft tech in favor of hard tech is simply being anti-factual. There is a division, yes, but it is not between the internet and semiconductors. It is betwe

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