China Is A Serious Global Competitor

1543 Words Nov 22nd, 2014 7 Pages
China is a serious global competitor three decades after opening to the world economy. It is competitive not only in prices but in technology as well. The innovation efforts of China have been really impressive. Exclusive applications by companies in China have risen dramatically as well as investments in R&D with the number of engineering and science students increasing (Osawa, 2014). China is one of the leading nations in exports from high-tech industries and in terms of science and technology and in. The government of China puts emphasis on the critical tasks of public policies to be able to foster indigenous innovation. Innovation is when inventions, ideas and discoveries are converted into business models, products, services and processes.
China has started regaining its past spot as an international innovation power. According to the China Innovation Survey, it illustrates that innovations in China are growing rapidly in terms of competitiveness when compared with other industries in United States and Europe. China has for a long time been the industry that produces popular devices for industries globally, but the technological products in the country were hardly seen to have any progress in the market. This philosophy has begun to change. Progressively, China 's technology industries are challenging global leaders in the market and setting developments in mobile devices, online services and in telecommunications (Osawa, 2014).
China has kept better-known world-wide…
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