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China cracks top 20 in Global Innovation Index

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  • China cracks top 20 in Global Innovation Index

    In 2017, China was ranked 22nd. In 2018, China moved up 5 places to 17th spot, ranking ahead of Canada and New Zealand...right behind France (my prediction is that China will move up pass France in 2019.)

    China broke into the world’s top 20 most-innovative economies as Switzerland retained its No. 1 spot in the Global Innovation Index (GII) ranking published annually by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO). Rounding out the GII 2018 top 10, from highest ranking to lowest: the Netherlands, Sweden, the United Kingdom, Singapore, United States, Finland, Denmark, Germany and Ireland.

    Now in its 11th edition, the GII is a detailed quantitative tool that helps global decision-makers better understand how to stimulate the innovative activity that drives economic and human development. The GII ranks 126 economies based on 80 indicators, ranging from intellectual property filing rates to mobile-application creation, education spending, and scientific and technical publications.

    China’s No. 17 ranking this year represents a breakthrough for an economy witnessing rapid transformation guided by government policy prioritizing research and development-intensive ingenuity. While the United States fell back to No. 6 in the GII 2018, it is an innovation powerhouse that has produced many of the world’s leading high-tech firms and life-changing innovations.

    “China’s rapid rise reflects a strategic direction set from the top leadership to developing world-class capacity in innovation and to moving the structural basis of the economy to more knowledge-intensive industries that rely on innovation to maintain competitive advantage,” says WIPO Director General Francis Gurry. “It heralds the arrival of multipolar innovation.”

    At 17th spot, China remains the most innovative developing country. The next most innovative developing country is Malaysia, ranked at 35th:

    When public authorities accept the responsibility to drive significant investment policies towards innovation, we see remarkable results, as in China (17). China’s embrace of energy innovation has translated into a blend of Chinese and European technology creating “clean nuclear energy” in Guangdong: The world’s first Evolutionary Pressurised Reactor (EPR) should connect to the electricity grid this month. Other countries are concurrently working on the EPR, but after years of work, China – with a public policy commitment – is the first to bring this safer nuclear energy technology to the operational stage.

    All the countries in the Top 25 of the GII are high-income economies – except for China, an upper-middle income economy. China’s steady climb through the rankings can serve as a model to other middle-income economies, with improvements in patents, publications and R&D expenditures.
    This index is a measure of "quality". If combined with the size of China innovation, China is definitely becoming an innovation powerhouse (if not one already).
    Last edited by pla; 10-07-2018, 09:02 AM.