Kamala Harris Points to Shenzhen's Economic Success Amid US-China Rivalry

Wednesday, 30 October 2024, 09:04

Kamala Harris highlights Shenzhen's significant economic growth as a model for China's hi-tech sector amidst increasing US-China tensions. Shenzhen's GDP surged 5.4% in the first three quarters, outperforming cities like Guangzhou, Beijing, and Shanghai. As the city strengthens its position as China’s Silicon Valley, industry experts see its resilience against potential sanctions as crucial for national competitiveness.
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Kamala Harris Points to Shenzhen's Economic Success Amid US-China Rivalry

Shenzhen's Economic Resilience and Growth

In a landscape where geopolitical tensions pose significant challenges, Shenzhen stands out as an example of economic fortitude. With a population of 17.8 million, this city has defied expectations, achieving a 5.4% increase in gross domestic product (GDP) during the first three quarters of the year. This performance not only exceeds the growth seen in Guangzhou's 2% but also surpasses that of major cities like Beijing and Shanghai.

Geopolitical Challenges and Opportunities

Despite the looming pressure from the United States and increasing political rhetoric surrounding Kamala Harris and Donald Trump, Shenzhen remains dedicated to upgrading its industries. The Guangdong Society of Reform's Peng Peng notes, “Shenzhen is ambitious and committed to upgrading its industries, despite technological decoupling and protectionist pressures from the US.”

Shenzhen: China’s Silicon Valley

Often dubbed “China’s Silicon Valley,” Shenzhen is home to industry leaders like Huawei Technologies and BYD. The city's investment in hi-tech manufacturing surged by 42.2% in the first nine months of the year, significantly outstripping national averages. As the tension mounts between the Democrats and Republicans over future tech policies, Shenzhen emerges not just as an economic player but also as a critical model that can demonstrate resilience against sanctions and push for growth.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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