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Industry 4.0 creating a buzz in western hemisphere: But watch out for China pulling into the fast lane

Author

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  • Heng, Stefan

Abstract

Industry 4.0 is a subject with global implications. Essentially, the concept comes down to the reorganisation and automation of value chains. If successfully implemented, industry 4.0 sets out to revolutionise the way goods and services are created and distributed, reshaping the industrial landscape on a national and global scale. Thus, China is determined to seize the opportunities of the digital evolution. Chinas government actively promotes the transformation towards an innovation-led growth model through large policy programs. The scope of funding for seven Strategic Emerging Industries is placed in the Five-Year-Plan. Thus, the government unveiled its “Made in China 2025” program. Here, China is considered the most mature adopter of industry 4.0 worldwide. Aside from world leaders such as Huawei and ZTE, myriads of Chinese small and medium enterprises create an updated version of German Mittelstand for Far East. Notwithstanding, the rank and file of China’s companies did still not embrace the benefits of previous industrial stages. The country is and will remain highly heterogeneous. Therefore, industry 4.0 is realised locally and in an evolutionary fashion. Overall, China’s implementation of industry 4.0 is still in its infancy. Nevertheless, by managing to extrapolate the momentum, China is pulling into the fast lane.

Suggested Citation

  • Heng, Stefan, 2019. "Industry 4.0 creating a buzz in western hemisphere: But watch out for China pulling into the fast lane," MPRA Paper 100868, University Library of Munich, Germany, revised 15 Mar 2020.
    • Handle: RePEc:pra:mprapa:100868
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    References listed on IDEAS

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    1. Paul Schneider, 2016. "Welche Auswirkungen hat Industrie 4.0 auf KMU? Das Geschäftsmodell als Analyseinstrument," ZfKE – Zeitschrift für KMU und Entrepreneurship, Duncker & Humblot, Berlin, vol. 64(4), pages 253-279.
    2. Martin Prause & Christina Günther, 2019. "Technology diffusion of Industry 4.0: an agent-based approach," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 9(1/2), pages 29-48.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    industry 4.0; digitalization; innovation; automatization; China; globalization; industry;
    All these keywords.

    JEL classification:

    • F60 - International Economics - - Economic Impacts of Globalization - - - General
    • L0 - Industrial Organization - - General
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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