Economy
Why China Lags on Innovation and Creativity
The world's most populous nation is an industrial powerhouse, but it has not yet transitioned to a knowledge-based economy.
China’s rise as an economic power has been staggering. Its manufacturing prowess is well-established, having earned it the moniker, "the world’s factory." Roughly half of its population now lives in urban areas, up from less than one in five three decades ago. Over 100 of its cities have populations of one million or more.
More than half of Americans already believe China is the world’s most powerful economy, according to Gallup polls, and a growing chorus of commentators believes that it will overtake the U.S. as the world’s largest economy by 2030. Some are projecting this to happen as early as 2016.