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Reading Summary - How Innovative is China Valuing Patents and The Coming Tech-Led Boom.docx

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Western University
Geography 3422A/B
Milford Green

How Innovative is China Valuing Patents and The Coming Tech-Led Boom 3/11/2013 10:50:00 AM How Innovative is China Valuing Patents  China’s patent office received more applications than any other country’s in 2011  In America and Europe, roughly half of patent applications are lodged by foreigners o This used to be true in China, but in the past few years filings by locals have surged to three-quarters of the total o Is this because China has suddenly become more innovative or because government incentives have prompted people to file lots of iffy patent applications, which the local patent office has a tendency to approve  Patents in China are probably less valuable than those in the US or Europe o Hardly any Chinese inventors seek to patent their ideas abroad Mark Mills and Julio Ottino – The Coming Tech-Led Boom  In January 1912, the United States emerged from a two-year recession o Nineteen more followed, along with a century of phenomenal economic growth o Americans in real terms are 700% wealthier today  In January 2012, we sit again on the cusp of three grand technological transformations with the potential to rival that of the past century and all find their epicenters in America: o Big data  Processing power and data storage are virtually free  A hand-held device has computing power that shames the 1970s-era IBM mainframe  The Internet is evolving into the "cloud" – a network of thousands of data centers o Smart manufacturing  We are just entering an era where the very fabrication of physical things is revolutionized by emerging materials science  Engine
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