Yet China’s lack of originality matters less than you may think, believe Dan Breznitz and Michael Murphree of the Georgia Institute of Technology. In a new book, “Run of the Red Queen”, they argue that it is wrong to equate innovation solely with the invention of breakthrough products. In an emerging economy, other forms of innovation can yield bigger dividends. One is “process innovation”: the relentless improvement of factories and distribution systems. Another is “product innovation”: the adaptation of existing goods to China’s unique requirements.
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Yet China's lack of originality matters less than you may think, believe Dan Breznitz and Michael Murphree of the Georgia Institute of Technology. In a new book, "Run of the Red Queen", they argue that it is wrong to equate innovation solely with the invention of breakthrough products. In an emerging economy, other forms of innovation can yield bigger dividends. One is "process innovation": the relentless improvement of factories and distribution systems. Another is "product innovation": the adaptation of existing goods to China's unique requirements.
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