Innovation in China
“But innovation is about more than this. One way of defining it would be as fresh thinking that creates value people will pay for. By that measure, China is no world-beater. Though its sweat produces many of the world's goods, it is designers in Scandinavia and marketers in California who create and capture most of the value from those products.”
Comment: Another entry into the growing number of articles that point out inherent weaknesses in China’s economic ‘miracle’. In simple terms, America’s model that prizes individualism, creativity and genuine entrepreneurialism creates an environment that leads to innovation. China’s state-managed model generates first-rate copycats that produce at artificially low cost. China’s model isn’t sustainable; America’s is.