Abstract
This paper examines the extent of competitive challenge faced by European enterprises in theknowledge economy from the emergence of Asian technology powerhouses, and in particularby the major economic adjustments in priority and funding now taking place in China andIndia, as both nations seek to raise the extent of their innovative capabilities and the quality oftheir innovation outputs. Key sectors such as those of software development, IT services andpharmaceuticals are explored and it is shown that European politicians and businessleaders should become more aware of the current and future innovative capacity thatindustries such as these are beginning to accumulate in Asia today.The propensity to innovate by Asia is explored in some detail and it is concluded thatno longer can countries like China and India be ignored and written off as incapable ofachieving either market scale or product novelty. Whilst Europe continues to enjoy singularcompetitive advantages in the sophistication of its knowledge industries, an outward facingstrategy is increasingly required in order to grasp opportunities for partnership, marketdevelopment and tacit knowledge exchange with Asia, but also to recognise and respond tothreats to Europe’s advantage in innovation from Asia.
Original language | English |
---|---|
Place of Publication | Brussels, Belgium |
Publisher | Wilfried Martens Centre for European Studies |
Publication status | Published - Feb 2009 |
Keywords
- Innovation
- Economic Development
- Software industry
- China
- India