We could have perhaps saved a lot of money in Sydney if we had deployed this new Chinese technology.
It is now being tested in Dubai.
Full story at: http://econ.st/2e4CNHP
Edited by Arie Lewin (Duke University), Martin Kenney (University of California, Davis), Johann Peter Murmann (UNSW Australia) - April 2016 - Cambridge University PressThe miracle growth of the Chinese economy has decreased from a compound annual growth rate of 10% to less than 7% in 2015, raising questions about China?s prospects of avoiding the ?middle income trap?.The two engines of growth -- exporting on a scale never before witnessed and massive infrastructure investments -- are approaching the limits of diminishing returns. Assuming that current political arrangements prevail and that western socio-political economic models are not adopted, can China develop a new growth model with innovation at its center? This volume brings together leading Chinese and international scholars who examine the role of culture, institutions, national policy, firm and individual dimensions in shaping the operation of firms, industries and technologies. Their analyses of the daunting challenges of building an innovation-driven growth model for China range from quite optimistic to deeply pessimistic. The book will appeal to scholars, policy-makers and business persons.
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Biographical Details of Contributors