For many years, China was widely viewed as a fast follower, leveraging access to foreign technology, expanding its manufacturing capacity, and competing primarily through cost advantages. While that characterization may have once captured the essence of China’s role in the global economy, it is increasingly incomplete. A growing body of evidence suggests that China is transitioning from technology absorber to innovation leader in its own right. Across a range of indicators, China is now innovating and exporting technologies in sectors traditionally dominated by advanced economies, including the United States. This ... (full story)