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China's Challenge
If China wants an innovation-based economy, it will need to make political and institutional changes.
Since 1978, the Chinese economy has seen phenomenal growth. Whether it can be maintained is unclear. The country’s export growth is decelerating quickly, and China already annually invests an amount equivalent to about half its GDP in assets and infrastructure—probably a higher proportion than any other country in peacetime. Now that China has completed its once-in-a-decade leadership transition, its leaders should be preparing to replace the rapid-growth model of the last three decades with one that requires less investment and is less reliant on cheap labor to provide a competitive advantage.http://www.technologyreview.com/view/509386/chinas-challenge/
Since 1978, the Chinese economy has seen phenomenal growth. Whether it can be maintained is unclear. The country’s export growth is decelerating quickly, and China already annually invests an amount equivalent to about half its GDP in assets and infrastructure—probably a higher proportion than any other country in peacetime. Now that China has completed its once-in-a-decade leadership transition, its leaders should be preparing to replace the rapid-growth model of the last three decades with one that requires less investment and is less reliant on cheap labor to provide a competitive advantage.http://www.technologyreview.com/view/509386/chinas-challenge/
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