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Edmund Phelps:China’s Indigenous Innovation Picks up Momentum
Update:Apr 24th, 2013

As China walks into a new development phase featured by both transformation and adjustment, a question looms large: how to encourage China’s entrepreneurs to promote innovation? I believe that education may increase the acceptability of new products and methods, making it easy for them to enter the market.  

If more innovative projects emerge, our economy will be increasingly dynamic; if the number of people who have demand for such projects increases, more and more projects of this kind will be initiated; if a country involves itself in the projects concerning new products and methods, employment will surge. That being the case, indigenous innovation, despite its not-so-high short-term return, has a visibly positive impact on employment and is very helpful in productivity increase.

 Besides, as enterprises in China embraces new organization pattern, they are taking on a trouble-shooting nature. One thing needs to be heeded is that the real success of a system which lays emphasis on entrepreneurs rests with both production and the increase of people’s living standard.

Source: China Economic Times 2013/4/23

External Link: http://lib.cet.com.cn/paper/szb_con/155210.html

 



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