Photo: World Affairs Board
South China Morning Post: Can Xi Jinping’s arms production shake-up create China’s version of Lockheed or Boeing?
Group headed by President Xi Jinping aims to overhaul nation’s antiquated weapons production system and increase ties between military and industry, say analysts
China’s creation of a commission headed by President Xi Jinping to increase integration between the nation’s military and industry shows Beijing’s determination to shake up the country’s bureaucratic and antiquated weapons production system, analysts said.
Military observers believe the ultimate goal of the commission is aimed at cultivating defence manufacturers in China similar to Lockheed Martin and Boeing in the United States.
But they warned that interest groups that monopolise China’s defence industry and concerns over the protection of intellectual property rights will be two key obstacles hindering any reforms.
Read more ….
WNU Editor: It looks like Lockheed, BAE, Boeing, and other Western defense contractors will be facing competition from China in the coming years.