The U.S. has retained the best technology in many areas as I mentioned before. Its innovation was developed under a free-enterprise system. Despite China’s astonishing growth in the recent years, this is a big difference between the U.S. and China in terms of their approach to industrial development and innovation capacity building.
As the U.S. is becoming more of state-led capitalism in which the state and big business play a big part, its entrepreneurial spirit and innovation mechanism may be significantly stifled.
The U.S. has gutted much of its industrial base by policy choice. The industrial base is a backbone of further innovation.
The U.S. still has talent and potential for innovation, but it may well lose them if they continue to remain the path they have chosen.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment