China’s ruling Communist Party will play a bigger role in steering its vast technology industry, the latest sign that Beijing intends to exert more influence over swathes of the world’s No. 2 economy.
Name one major new innovation of the past 50 years that didn't rely substantially on government funding? NASA alone is responsible for most of the technologies in your cell phone, except for the touch screen which was funded by the Smithsonian.
I'll even tie one arm behind my back and we can ignore indirect things like public schooling or military conquest for resources like oil.
You are currently living in a bourgeois dictatorship (no, getting to "choose" out of two capitalist imperialist parties is not "democracy"). Has your country not innovated on anything?
Have proletarian dictatorships like the USSR, which went from feudal backwaters to the first nation ever to explore space in just 30 years, and China, which has gone from one of the 10 poorest nations to now the second (soon to be first) richest, not innovated?