China and the West Race to the Top (Project-Syndicate)

Although macroeconomic stability and efficient markets are essential conditions for economic growth, they do not drive it. If the West wants to compete effectively against China and other fast-growing Asian countries, governments need to make innovation central to their economic policies.

David Sainsbury, a member of the British House of Lords, was Minister of Science and Innovation under Tony Blair (from 1998 to 2006), and is the author of Progressive Capitalism: How to Achieve Economic Growth, Liberty, and Social Justice.

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