Connected and autonomous vehicles rely on IT hardware and software, an area where the United States has a competitive advantage globally. Congress and the administration should help U.S. industry press that advantage not with auto tariffs, but with more robust innovation policies.
The Chinese patent system has come a long way since the first intellectual property laws were passed in China in 1985. Many would argue that China’s budding patent system has actually surpassed America’s older and more established patent system (which has been around since 1790 when then-President George Washington signed the first U.S. patent) in speed and efficiency and in providing strong patent protection to innovative companies and emerging startups as well as to individual inventors.
The Chinese New Year began with the traditional lighting of firecrackers on Friday, but the country's military has been working on incendiaries on an entirely different scale. Over the past year, the nation that invented gunpowder has been rolling out an array of high-tech weapons that some experts say could threaten the global superiority of the United States.
Until only a few years ago, talk of China as an innovator would have elicited scorn from most Western business and government leaders. The country was widely derided as a haven for copycats and pirates, or grudgingly acknowledged as an efficient manufacturing platform whose factories depended on the uneasy union of cheap Chinese labor and foreign technology.
As we approach the 10th anniversary of the global financial crisis, the world economy is showing encouraging signs of recovery, with GDP growth accelerating to 3.5 percent in 2017. Despite this positive development, leaders are facing major predicaments when it comes to economic policy. Uneven distribution of the benefits of economic progress, generational divides, rising income inequality in advanced economies, and increasing environmental degradation have heightened the sense that the economic policies of past years have not served citizens or society well.