Analyze the dominance of China in the hi-tech industry. What scarce resource is extracted from the support this dominance? (1 point)

Answer 1

China has emerged as a dominant player in the hi-tech industry over the years. This dominance can be attributed to several factors. Firstly, China has a large and skilled workforce, which provides a significant advantage in terms of manpower for the hi-tech industry. The country has invested heavily in education and technical training, producing a large pool of highly skilled engineers and scientists.

Secondly, China has established a robust manufacturing ecosystem. The country has an extensive network of factories and assembly lines, enabling efficient production and scale. This manufacturing capacity has allowed China to become a global hub for electronic and hi-tech products, offering competitive prices and rapid production capabilities.

Additionally, China has fostered a favorable business environment for technology companies. The government has implemented policies and incentives to attract foreign investment and promote innovation. This support has led to the growth of domestic technology companies, such as Huawei, Tencent, and Alibaba, which have become major global players.

Furthermore, China's large domestic market serves as a significant advantage for its hi-tech industry. The country has a population of over 1.4 billion people, providing a massive consumer base for technology products and services. This domestic demand has fueled innovation and allowed Chinese companies to rapidly iterate and improve their products.

In terms of scarce resources, one key aspect that helps support China's dominance in the hi-tech industry is access to rare earth minerals. Rare earth elements are essential for manufacturing various high-tech products, including smartphones, computers, electric vehicles, and renewable energy technologies. China currently accounts for the majority of global rare earth mineral production and has controlled the global supply chain.

This dominance in rare earth minerals enables China to have control over the pricing, availability, and supply of these critical resources. It provides an advantage to Chinese technology companies as they have better access to rare earth minerals compared to their international competitors.

Therefore, the scarce resource extracted from the support of China's dominance in the hi-tech industry is the control and production of rare earth minerals.