How should China best deploy its capital and talent to spur more innovation?
China’s aging economy will need the power of gender parity & the power of productivity to sustain itself.
Internet companies in China have led the way in spurring innovation with the creation of uniquely Chinese business models, including ways to monetize online businesses such as social media and games.
Jonathan Woetzel challenges five common assumptions on China's future.
The recent stock market plunge makes it is easy to lose sight of China’s fundamentals. But when the dust finally settles after the nearly 40% loss since its peak in June, China will still have the world’s largest consumer population, an unparalleled manufacturing base, and a strong public-policy foundation. These principles will continue to drive growth in China, but the question is: at what pace?
Some of China’s greatest successes have come in industries that require customer-focused innovation. As measured by share of global revenue, Chinese firms are growing rapidly across sectors such as household appliances, in which they now account for 39 percent of global revenue, Internet software (15 percent), and smartphones (10 percent).
A rising class of Chinese giants powered by innovation are dominating the news. But beyond these well-known few, where should we expect the next great innovations to emerge in China? China is pouring investment into R&D in the hope that it can make the technological breakthroughs that are necessary to drive innovation. It now leads the world in newly issued patents and there has also been a measurable boost in the number of scientific publications. While the numbers tell one story, the results tell another.
Erik Roth, who leads McKinsey’s Global Innovation & Growth Practice, explores China’s major hubs of technological innovation to determine if there will ever be a Chinese "Silicon Valley."
As China reaches the forefront of global economies, it will have to address a new set of challenges, raising questions about China's role
The rising wave of obesity around the world and its health and economic costs cannot be ignored—even in China. This is no longer a “western” problem. Today, 62 percent of the world’s obese people are in developing countries.