Jensen, P.H. (2012). “Innovative China: Trends, challenges and opportunities”, Australian Economic Review 45(4), 455-56.
There is a growing awareness in Australia of the unique position that we, as a nation, have before us in terms of the rise of China as an industrial superpower. Although it has long been regarded as the “factory of the world”, there is a growing consensus that China is going to need to move up the value-added chain in the future. In other words, they are going to have to become more innovative if they are going to continue their economic rise. The opportunity that presents itself for Australia is a once-in-a-generation opportunity to build social, educational and professional ties with a nascent innovative powerhouse which will hopefully help us secure our prosperity in the decades to come. The good news is that there are many in industry, policy, government and academia that are acutely aware of this and are keen to take a forward-looking stance on our relations with China. So, rather than harping on at length about the problems faced by Australian firms in terms of enforcement of their IP rights in China – which are no doubt important issues, but ones which will take international action to help remedy – our thought-leaders are keenly focused on the positive ways in which we can reach out to China.