China Smart Tech Power Puts Australian Economy At Risk
A new report has pegged the domination of China with smart cars, home devices and other advanced technologies as a risk to the Australian economy, with key South-East Asian markets moving towards them for tech and supply chains.
With the global economy changing due to devices and objects being embedded with sensors connected to communications networks, attempts by Australia – and other nations such as the US – to exclude Chinese companies and state corporations from digital networks are leaving us in the dust.
A lot of this tech is used in emerging positions such as electric vehicles and “smart city” systems in countries including Malaysia and Singapore, which is either manufactured in or linked to China.
This is becoming more of an issue as China gains more control of cyberspace in relation to home and foreign businesses, as seen with the recent censorship of The Simpsons on Disney+.
As Chinese political control tightens, their desire to pay for offshore technology dissipates.
The report suggests Beijing is setting the “terms of engagement” for participation in China’s “Internet of Things” economy, “In ways that privilege China’s information security over that of foreign actors.”
As a result, Australia may be facing a tricky split decision between a less lucrative future outside south-east Asia digitally connected with China, or a potentially risky future with it.
As a result, the report suggests our government should enhance its tech capacities and look for ways to manage any future risks from digital connections with China.