Why SpaceX may not be a model for Chinese companies to copy

China should not try to copy SpaceX despite the US company’s successful IPO, a leading economist has said. The company raised US$75 billion when it went public on Friday and made its chief executive Elon Musk the world’s first trillionaire. But Shen Yingchun, a professor at Beihang University, told Beijing Daily: “China does not need to and cannot copy SpaceX.” She said “the strength of the US model is efficiency”, using the market to drive down costs and forcing companies to innovate. Shen...