Innovative Economies: China among top 20 most innovative countries

World
Europe

02:26

The alleged theft of intellectual property was listed as one of the reasons for US tariffs on Chinese goods. But China is already among the world's leading producers of IP. According to the annual Global Innovation Index, China is now among the top 20 most innovative economies in the world. CGTN's William Denselow reports.

The development of mobile apps, greater emphasis on education and a large volume of scientific papers can help a nation rise in the Global Innovation Index. China is ranked 17th this year- up five places from 2017. Those behind the index call it a significant trend.

FRANCIS GURRY, DIRECTOR GENERAL WORLD INTELLECTUAL PROPERTY ORGANIZATION "There are strategies in the area of artificial intelligence, advanced manufacturing, robotics, in many of the areas of advanced technology which reflect this policy emphasis on innovation."

The Global Innovation Index has been published for the past 11 years. It's co-published by the World Intellectual Property Organization, Cornell University and INSEAD. The index ranks nations using 80 indicators ranging from intellectual property to education spending. Switzerland remains at the top of the leader board for a second year in a row.

SOUMITRA DUTTA, PROFESSOR OF MANAGEMENT CORNELL UNIVERSITY "What Switzerland does better than most nations is that all the different components are actually at a very high level, so it's not necessarily the case that it is number one in one element that has projected them to the number one position."

Despite being the world's largest economy with major tech giants like Apple based in Silicon Valley- the U.S. slipped two places to sixth this year.

BRUNO LANVIN EXECUTIVE DIRECTOR, INSEAD "It's important to keep in mind that the number of start-ups created in Silicon Valley is higher on the side of non-U.S. citizens than the side of U.S. citizens."

Washington has slapped tariffs on Beijing for the alleged theft of intellectual property. Speaking at the Index unveiling at a hotel in Manhattan, Francis Gurry says China has risen as a producer of intellectual property.

WILLIAM DENSELOW NEW YORK "The panelists here wouldn't comment on the impact of a trade war between the U.S. and China, but if innovation remains key to Beijing's economic policy, they believe China can keep climbing this global index. William Denselow, CGTN, New York."