Growth in China and other parts of Asia will depend on skills training, more process mechanization, and better resource use, says McKinsey director Jonathan Woetzel.
“Helping people become more professional and more skilled, whether we’re talking about manufacturing industries and food processing, which can in turn lead to better quality for urban citizens through food safety, or we’re talking about services, and simply delivering professional services on time at a quality that people expect—these are all great opportunities to increase the productivity of Asian society and its economy. That’s where the real challenge and opportunity lies for Asia.”
Read and download the McKinsey interview here.
This The Economist article describes efforts by Chinese government and universities to recruit and retain top notched nationals and foreigners into their talent pool as well as develop incentives and infrastructure (like this building at Tsinghua University). For economic development simple and straightforward. Impressive how this country identifies key challenges and addresses them.
Together with a group of colleagues/experts, I in some way have been contributing to this transformation the last 4 years through workshops and seminars on engineering curriculum innovation at Tsinghua University with deans, rectors and faculty from over 100 colleges of engineering. For more information on what we do, please go to www.innovahied.com or drop me an email (email@example.com)
We have shared the trend before. They really get it (what it takes to develop a knowledge based economy).
Read more here.
From the ITIF e-newsletter – a Dec 2012 report by Battelle states that while the US and Europe will decrease R&D spending, global spending is forecast to grow by 3.7%, or $53.7 billion in 2013 to $1.496 trillion. The largest share of this increase, $22.9 billion, is expected to come from China, which continues its decade-long annual double digit increases in R&D investments. Through its Innovation 2020 strategy, China plans to invest $1.5 trillion over the next seven years on seven “strategic emerging industries,” namely: energy efficiency and environmental protection technologies; next generation information technology; biotechnology; high-end equipment manufacturing; new energy; new materials and alternative fuel vehicles.