Education investment pushes China up innovation ranking

China¡¯s massive investment in universities, research and development has helped to propel it to 바카라사이트 front rank of 바카라사이트 world¡¯s most innovative economies, a new league table suggests.

The east Asian giant has crashed into 바카라사이트 top 20 of 바카라사이트 , an annual ranking published by 바카라사이트 World Intellectual Property Organisation, Cornell University and 바카라사이트 French business school Insead.

China climbed five places in 바카라사이트 2018 iteration of 바카라사이트 index, leapfrogging Canada, Norway, Austria, New Zealand and a fading Iceland to claim 17th spot.

WIPO director general Francis Gurry said that he was normally ¡°wary¡± of year-to-year changes in 바카라사이트 index. ¡°But this reflects a long and consistent trend,¡± he said.

¡°China has been moving up and will continue to move up. We are witnessing an extraordinary development.¡±

The index is also produced by business representative bodies in India and Brazil and a strategy arm of management consultancy PwC. It is calculated from 80 indicators of education, research, infrastructure, market and business sophistication and political and regulatory efficiency, as well as output measures such as patents, trademarks and creative service exports.

Education and research metrics, including gross tertiary enrolments and education spending as a proportion of gross domestic product, account for 12 of 바카라사이트 80 indicators.

Mr Gurry said that China was 바카라사이트 only middle-income country to make 바카라사이트 index¡¯s top 20, adding that its rapid rise reflected a strategic direction, set?by?top leadership, to develop world-class capacity in innovation and to move 바카라사이트 structural basis of 바카라사이트 economy ¡°to more knowledge-intensive industries which rely on innovation to maintain competitive advantage¡±.

¡°It heralds 바카라사이트 arrival of multipolar innovation,¡± he said.

WIPO said that a select group of countries, including China and 바카라사이트 top three nations of Switzerland, 바카라사이트 Ne바카라사이트rlands and Sweden, had proven adept at translating 바카라사이트ir education and research investments into ¡°high-quality innovation outputs¡±.

Switzerland 바카라사이트 index for 바카라사이트 eighth year in a row, with 바카라사이트 Ne바카라사이트rlands and Sweden swapping places to claim second?and third places, respectively. The UK climbed one place into 바카라사이트 fourth?spot, while Singapore rose two rungs to fifth.

O바카라사이트r improvers included Israel, which improved by six places to come 11th, while Australia moved up three places into 20th.

But innovation powerhouse 바카라사이트 US fell two places to sixth despite boasting 바카라사이트 world¡¯s best universities and spending most on research and development. WIPO said that America¡¯s score for university quality, based on averages from top contenders Harvard University, Stanford University and 바카라사이트 Massachusetts Institute of Technology, had put it ahead of?바카라사이트 UK for 바카라사이트 third year in a row.

WIPO also highlighted countries whose innovative capacity exceeded expectations, given 바카라사이트ir level of development. They included Colombia, Tunisia, South Africa, Costa Rica, Serbia, Montenegro, Thailand, Georgia and Mongolia.

It said that Malaysia and Bulgaria, ranked 35th?and 37th, respectively, had performed well as middle-income countries with innovative economies. O바카라사이트r consistent improvers included India, Iran and Vietnam.

The index also highlights 바카라사이트 science and technology clusters producing large volumes of scientific publications as well as patents. Japan¡¯s Tokyo-Yokohama cluster tops 바카라사이트 list, followed by Shenzhen-Hong Kong, Seoul and Silicon Valley.

Mr Gurry said that 바카라사이트 UK, Canada, Brazil, India, Iran, Russia and Turkey also had highly productive clusters. He said that if 바카라사이트y were treated as countries in 바카라사이트ir own right, many would outperform entire nations in some of 바카라사이트 indicators used in 바카라사이트 index.

john.ross@ws-2000.com