boydogtruck (US)
No, at this point China is not a global innovation powerhouse. I have not heard of anything out of China that amounts to more than tweaking of imported ideas. It's still learning by imitation (though rapidly). But there is no reason why China can't begin to innovate in the future; and it must, really, if it wants to compete on anything beside cost.
However, I believe innovation is more than a matter of freeing the private sector from state controls or letting the market allocate capital. It's deeper than that, it involves cultural attitudes.
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Jack Ma (2nd L), board chairman of Alibaba Group, is interviewed at the New York Stock Exchange on Sept. 19, 2014. China's e-commerce giant Alibaba Group on Friday morning rang the opening bell at the New York Stock Exchange (NYSE), marking its initial public offering (IPO) on Wall Street. (Xinhua/Wang Lei) |
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