Clyde Prestowitz, president of the Economic Strategy Institute and writer for Foreign Affairs, outlines why he does not agree to the perception of an end to Silicon Valley as may be inferred from a recent KPMG survey, he can easily anticipate the rise of Silicon China. Click here for his article of 7 February, 2013 in Foreign Policy.
The euphoria in the KPMG survey is not without foundation, as this chimes with the latest finding of the 2012 World Intellectual Property Organisation Report that China now tops the world in patents, trade marks and industrial designs, the first in a century that a developing country holds this position. Click here
China's change of direction to migrate from labour and resource-intensive towards higher-value-added and innovation-driven growth sets the scene. More and more Western-trained Chinese scientists, technologists and high-tech entrepreneurs are coming home where they are feted by the Chinese state with lucrative and high-status jobs or research opportunities in a vast market that is barely starting, compared with many Western economies that seem to be running out of steam.
Yes, China has yet to field a home-grown science Nobel laureate and still do not have many global brands. But the sheer scale and speed of development at least serve to make leading lights like Prestowitz sit up and think.
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