One of the major problems with China is that its innovation is largely borrowed technology.
Sentiment: NEGATIVE
Chinese productivity is the highest in the world but the way they do it is by borrowing the technology from abroad, either by joint ventures or other means.
It used to be that almost all innovation came from the U.S. and a small number of other developed countries. That's no longer the case, and as China and India grow, it's changing even more. Expect a lot more Chinese and Indian Nobel prizes in the future.
When I look at China's environmental problems, the real barrier is not lack of technology or money. It's lack of motivation.
China is still a developing country with a myriad of tasks and challenges.
China is an area where we need to be present. Lots of companies want to supply their products to China.
We say that necessity is the mother of invention, and no country has more of a necessity to develop clean power than China.
As the United States chains itself down with greater debt, China is building relationships across the globe to bolster its trade, its access to natural resources, and its energy consumption. In far too many cases, this means lost opportunities for America and our businesses.
Big companies have trouble with innovation. Innovation is about bad ideas, or ideas that look like bad ideas. That's the fundamental thing.
China's history is marked by thousands of years of world-changing innovations: from the compass and gunpowder to acupuncture and the printing press. No one should be surprised that China has re-emerged as an economic superpower.
I think the rise of China is inevitable, because China has moved from a low-cost producer, at low levels of technology, to higher levels of technology, and because it's very competitive, even in some high-tech products they offer at very competitive rates - much lower than their competitors.