Business Daily China: Innovator or Thief?
Sep 1, 2015
China's factory data is at a three-year low, sparking debate about its economic model. A report claims that half of China's growth stems from stealing Western ideas through espionage. Mark Anderson reveals the extent of these practices. In contrast, author Edward Tse argues that Chinese entrepreneurship is evolving, moving towards genuine innovation. This shift could reshape how China is perceived globally as it navigates challenges like stock market declines and the need for economic reform.
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China's Growth and IP Theft
- About 50% of China's economic growth over recent decades may stem from intellectual property theft, including state-sponsored hacking.
- This business model is inherently unstable and could threaten the global economy if unabated.
Counter Intellectual Property Theft
- Inventing countries should clearly communicate to China that the cost of intellectual property theft outweighs its benefits.
- Strong economic responses may be necessary to discourage China's theft practices.
China's New Entrepreneurial Spirit
- Chinese private sector entrepreneurship has surged in recent years, driven by companies unrelated to ruling families.
- Innovation now comes from young firms resembling Silicon Valley more than traditional state enterprises.
