The Global Challenges of the Knowledge Economy: China and the EU
AbstractThis paper addresses some of the challenges confronting the European Union and China as they build their knowledge economies, and their on-going and possible future actions to address such challenges. Fifty years after the creation of what became the European Union, we argue that there is an urgent need to develop a new European Lisbon Agenda, preparing the EU for globalization. A new and "outward-looking" Lisbon strategy would focus on three key areas: international trade in services, internationalization of research networking, and access to brains and talent. The paper shows that the success of the Chinese economy over the past three decades can be partially attributed to its ability to absorb globally advanced technology and huge flows of foreign investment, its large pool of knowledge and talent, and its enactment of a policy framework that provides incentives to domestic and foreign firms to innovate - a strategy very much reminiscent of Europe's own internal Lisbon agenda. To move further, China needs to overcome the obstacles of regional disparities, transform its industry and deepen industry-academy linkages, which are also unavoidable tasks for the sustainable development of Europe. We contend that the scope for comparative studies of the EU and China, for mutual learning from each other's experience - even for joint initiatives - is substantial.
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Bibliographic InfoPaper provided by United Nations University, Maastricht Economic and social Research and training centre on Innovation and Technology in its series UNU-MERIT Working Paper Series with number 028.
Date of creation: 2007
Date of revision:
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Web page: http://www.merit.unu.edu
Knowledge Economy; Industry-University Partnerships; Globalization; Internationalization; Highly Skilled Migration; European Union; China;
Find related papers by JEL classification:
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
- F22 - International Economics - - International Factor Movements and International Business - - - International Migration
- L80 - Industrial Organization - - Industry Studies: Services - - - General
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-10-20 (All new papers)
- NEP-CNA-2007-10-20 (China)
- NEP-EEC-2007-10-20 (European Economics)
- NEP-HRM-2007-10-20 (Human Capital & Human Resource Management)
- NEP-INO-2007-10-20 (Innovation)
- NEP-KNM-2007-10-20 (Knowledge Management & Knowledge Economy)
- NEP-TRA-2007-10-20 (Transition Economics)
You can help add them by filling out this form.
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