The extent of this innovation was accidentally underlined when former US President Trump used an Anker Innovations’ power bank during a live stream with Elon Musk. It sent the stock up 7.5% over several days, although at RMB54, it is still far below its June peak of RMB75 ($9.88).
Over a decade ago, staff in our Shenton Way office were disturbed by a toy bought back from China by our senior software development officer. The quadcopter was an amusement as it swooped over workstations. It is fair to say that no one anticipated how this Chinese start-up industry would become one of the world leaders in innovative drone technology.
Little did we know that, in many ways, this precursor prototype drone also signalled a change in the trade relationship between China and the West. Rather than a follower, China was on the way to becoming a leader that others followed. It is a path Japan had followed decades earlier when it shifted from imitation to enhancement and then to innovation.
