Global Innovator Nation: China to become the leading innovator
Intellectual Ventures co-founder Edward Jung measures invocation as patents, creation of new companies, and formation of multi-national companies.
He told the crowd at the recent Boao Forum for Asia Seattle Conference that China now produces more patents than the U.S. and ranks second worldwide to them in patent litigation. He believes China’s growing middle class helps fuel innovation.
Experts believe as China as has shifted from a manufacturing economy, it’s increasing the pressure to innovate. CCTV America’s Chris Casquejo reports from Seattle.
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