Dulling the Cutting Edge: How Patent-Related Policies and Practices Hamper Innovation Go back »

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China’s ability to innovate is becoming an increasingly important global issue, whereas without strong innovation as the next stage in the country’s development process, its economic growth, while impressive to date, will stagnate and thus create dramatic consequences not just in China but also abroad. To be sure, innovation, which can be defined as the collective act of inventing (creating something considered “new”) and exploiting that invention, is touted in an array of economic literature as an important tool for countries to build competitiveness and thus in the long-term drive their economies.

Not only will China’s future ability to innovate decide its future, but it deeply impacts foreign countries, many of who heavily rely on both demand and supply from China. In short, the future direction of the world economy – inclusive of many businesses, consumers, and governments – to a notable extent hinges on China’s ability to innovate.

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