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China's R&D revolution
The Emerging View
07 May 2015
The last big wave of Chinese competition was based on cheap labour. The next one will be based on innovation prowess powered by a home grown R&D revolution.
One of most interesting yet least appreciated facets of modern China is its transformation from a low-cost, labour intensive manufacturer to an economy driven by an indigenous, self-sustaining process of technological change.
The emergence of a home grown research and development (R&D) culture in China will not only help the country transition from developing to developed country status, but also boost its transformation from an export to a consumption-led economy. For the West, the rise of innovation and R&D in China means that the next big wave of Chinese competition is only a few years away – this time from China’s innovation prowess, not just its cheaper labour.
This paper outlines how innovation arrived in China, why it manifests itself the way it does, what the future holds for R&D in China and what it means for China and the rest of the world. The full article is available on the link below.