Posts
China’s Innovation Success Depends on Political Changes
If
China’s new leadership wants an innovation-based economy, it will have
to begin to make the changes needed for robust science and technology
development.
Since 1978, the Chinese economy has seen phenomenal growth. While that’s not in dispute, the reason why China has managed to grow so fast and whether it can maintain that growth is far less clear. The consensus view among China scholars is that the country has grown by relying heavily on investments, exports, and its huge low-cost labor force. That formula has worked well so far, but evidence indicates that China is getting less and less from this approach lately. The country’s export growth is decelerating quickly, and China is already investing an amount equivalent to about half of its GDP—which is probably the highest level ever among any country in peacetime.http://www.technologyreview.com/view/507431/chinas-innovation-success-depends-on-political-changes/
Since 1978, the Chinese economy has seen phenomenal growth. While that’s not in dispute, the reason why China has managed to grow so fast and whether it can maintain that growth is far less clear. The consensus view among China scholars is that the country has grown by relying heavily on investments, exports, and its huge low-cost labor force. That formula has worked well so far, but evidence indicates that China is getting less and less from this approach lately. The country’s export growth is decelerating quickly, and China is already investing an amount equivalent to about half of its GDP—which is probably the highest level ever among any country in peacetime.http://www.technologyreview.com/view/507431/chinas-innovation-success-depends-on-political-changes/
No comments:
Post a Comment