This is CBS I on the World.

I'm John Batsch with Arjan Romney of the Economist magazine, Global Business Writing

about the technology competition between the PRC that is now in the moments after the

20th Party Congress a direct contestant for world domination in the high end strategic

industries.

A semiconductor AI, biotech, health are certainly involved in vaccines and quantum computing.

Arjan thank you for this.

What is a Jew-Gro Diti?

I say that roughly.

Whole of nation system.

What is that system in China?

Yeah, that's great question.

The whole of nation system is this idea that the Chinese Communist Party is basically

able to marshal all of society's resources and all the actors to invest and act in accordance

with the national interest.

A great way to see that is if you look at even the private sector which you might expect

to be independent of the state, it turns out that a huge share of their investment is

actually in accordance with state priorities.

That happens because the CCP, the Chinese Communist Party is basically able to set up these

interesting capital structures where it acts as a limited partner in a lot of private investment

vehicles.

It can direct private capital towards the state's priorities.

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