Wells Fargo and Pfizer CEOs warn that China is surpassing the U.S. in innovation, citing faster regulatory approvals and more supportive government policies.

Speaking at a conference, they noted China's streamlined processes allow new products and treatments to reach market significantly quicker than in America.

Wells Fargo's CEO pointed to China's rapid adoption of digital payments and fintech innovations, while Pfizer's chief highlighted that some drug approvals now happen faster in China than in the U.S., reversing the historical pattern. Both executives emphasized that excessive U.S. regulations and bureaucratic delays are creating competitive disadvantages.

They called for regulatory reform to help American companies maintain their innovative edge, warning that the current environment pushes investment and development toward countries with more efficient approval systems.

The comments reflect growing corporate concern about America's ability to lead in key technology and healthcare sectors amid increasingly complex compliance requirements. https://www.cnbc.com/2025/10/15/wells-fargo-pfizer-ceos-china-innovation.html #Innovation #China #USA #Regulation #Pharma #Fintech #Healthcare #Economy #Policy #DrugApproval #DigitalPayments #Competitiveness #RegulatoryReform

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