China today accounts for 30% of global manufacturing and still rising. Across the board, from the power grid to robotics to transport infrastructure, to economies of scale in its home market, China is accumulating inherent competitive advantages. It’s not news that China dominates global manufacturing with the cheapest products on the market, but the underlying causes are shifting. Ten years from now China’s share of global manufacturing will be more like 40%, not 30%, but it will be a different China which maintains that dominance. China is no longer cheap because it’s poor and basic – Chinese manufacturing wages have been higher than in Mexico for a decade now. There is still a technological gap between China and the West,…