China's Industrial Upgrading Faces Dilemma: Pace vs. Economic Growth Shock.
Achieving industrial upgrading in China is crucial for its development, but finding industries where China has a competitive advantage is key. By analyzing global trade data, the study predicts China's potential advantageous industries and their evolution. China has more current and future advantageous industries compared to the global average, but long-term sustainability is a concern. China's industrial upgrading ability is limited, and finding the right pace is challenging. The best strategy for China is inclusive upgrading, leveraging its diverse industries for sustainable growth.