Posted by: meikah | 14 January 2011 | 3:33 am
This week’s edition of innovation update features China. The country is finding ways to spur innovation to spark domestic economy.
McKinsey Quarterly reports:
China’s latest five-year plan promises to shift the economy from its dependence on exports toward domestic consumption as an engine of growth. The key to achieving this will be for the nation to enhance the ability of its economy to innovate. Yet China’s record on this score is mixed. Understanding why that is, and how to fix it, is important to estimating the likelihood China will succeed in its ambitious goals.