China is racing to catch up to the military superiority of the United States. It’s doing so by beefing up domestic innovation efforts in tandem with ongoing intellectual property theft efforts, according to a recent think tank report. At the same time, the military arm of the Chinese Communist Party (CCP) is hindered by both the trappings of a socialist command economy and the inability to develop cutting-edge technology on its own, the RAND Corporation report (pdf) titled “Defense Acquisition in Russia and China,” said. According to the June report, “China’s reliance on intellectual property theft means its weapons are years behind, but the Chinese recognize that shortcoming and are investing in and growing organic capabilities through joint ventures and acquisition of foreign technology.” The report, drafted for the United States Army, outlines how China is moving away from its standard model of copying other countries. “Overall, the PLA has …