Shenzhen, CHINA (WTOL) - Shenzhen is known as the Silicon Valley of China. And the communist government is banking technology will be the key to China's global and economic development and dominance.
The Chinese government gives businesses incentives such as tax breaks for tech companies, encouraging them to be environmentally sustainable.
This focus and support allows for inventions to take off at offices, co-working spaces and business parks.
Entrepreneurs are developing drones controlled by a user's thoughts or a "smart" door lock that opens only with fingerprint biometric identification technology.
But there are significant problems in the development of these technologies including Chinese industrial spying. This results in the theft of intellectual property from American companies that critics say total billions of dollars in lost revenue.
Chinese companies are imitating concepts drawn up by successful U.S. tech companies. For example, Didi is a ride sharing company similar to Uber in the U.S. However unlike Uber, Didi allows users to check taxi and bus schedules as well as look up bike sharing locations.
Similar to the USSR in the latter half of the 20th century, communist China is America's foremost competitor economically in the 21st century. However, unlike the USSR, they are unapologetically following an American model to compete with the US.
