China’s next growth engine? An AI-powered intelligence dividend

As China enters its 15th five-year plan, policymakers face a structural constraint that cannot be eased with another round of infrastructure spending or property stimulus. The demographic dividend that powered four decades of expansion is fading. Industrial competition has intensified. The central economic question is no longer how fast China can grow, but how productively. Artificial intelligence, specifically the rise of AI agents, may offer part of the answer. Deployed at scale, these systems...