The future of innovation-led productivity growth in the U.S. will depend on the country’s ability to encourage and sustain student achievement in the 21st century. That's the view of global strategists and the conclusion of a new study - “The New Geography of Global Innovation.”
While the United States and Japan remain leaders in innovation, increased competition from growth markets, notably China, suggests a changing landscape. Research and development (R&D) spending in Asia surpassed EU levels in 2005, and is likely to overtake US levels in the next five years, thanks primarily to striking growth in R&D investment in China. R&D investment is driven largely by the corporate sector, which finances more than two-thirds of total R&D spending in many countries.
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