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Innovation
by Greg Cruey on October 25, 2009
© jiazi
BusinessWeek ran a couple of articles this week (here and here) on China's economic growth and the expansion of the China economy into "sophisticated industries." Can the growth rate of 8% continue? There are skeptics.
China has moved into auto and airplane manufacturing, solar power, and silicon chips (to name of few of the so called sophisticated industries). But much of the 8% growth rate is driven by infrastructure projects designed to stimulate the economy. Many analysts doubt that China can maintain the growth rate when those project end.
But a more profound concern is whether China's industries can foster innovation.
Experts familiar with highly touted Chinese achievements such as commercial jets and high-speed trains say the technologies that underpin them were largely developed elsewhere. There is no Chinese Sony, Toyota, or Samsung on the horizon.Time will tell...
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Vote for Will an Innovation Shortage End China's Economic Growth?:
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Rating: 7.67 out of 3 vote(s) cast.
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Response from:
hotaruSTAR16
(10/26/09 8:55am)
Hong Kong recently introduced their first electric vehicle. You're right, only time will tell if China's economic growth rate continues, and there's a lot of room for improvement. Have you heard of Asia Chronicle? They have some good news analyses on issues facing China. Worth a read I think. www.asiachroniclenews.com
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