China and Technology-based Economic Development

McKinsey has a briefing on the state of innovation in China:

Chinese companies. . . benefit from their government’s emphasis on indigenous innovation, underlined in the latest five-year plan. Chinese authorities view innovation as critical both to the domestic economy’s long-term health and to the global competiveness of Chinese companies. China has already created the seeds of 22 Silicon Valley–like innovation hubs within the life sciences and biotech industries. In semiconductors, the government has been consolidating innovation clusters to create centers of manufacturing excellence.

The piece goes on to describe how the government allows a partnership of sorts between domestic and multinatonal firms in fostering innovation.  An interesting case study in the rise of so-called “state capitalism.”  You can read the report here.

 

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