Will China Out-Innovate the West?
For decades, Western governments have offered protections for incumbent firms at the expense of new market entrants, and of productivity growth generally. With China quickly realizing the value of fair and free competition, the West urgently needs to change course, or risk being left behind.
https://prosyn.org/DhqPr0Z
NEW YORK – From the early nineteenth century to the early twentieth century, Western countries attributed their economic growth to the discoveries of “scientists and navigators.” A country needed only the “zeal” to develop “obvious” commercial applications, and build the facilities to meet demand for new products.