An emerging R&D superpower
Seen from the vantage of patent filings and research outputproxies for innovationChina is outpacing the US
The relationship between innovation and the economic fortunes of countries is not a long-established trend. Its significance is rising by the day as the manifold dimensions of the knowledge economy unfold. However, the question of identifying and ranking countries as the forefront of innovative activities is a contentious one. It is logical to expect such a situation as none of the major economies will accept that they are falling behind competitors in innovation, a proxy marker for where their economies will be in coming years.