This report stats that income gaps amongcountries are largely explained by differences inproductivity. By raising the capital/labor ratio and rapidlyassimilating technologies across a wide range of activities,China has increased factor productivity manifold since 1980and joined the ranks of middle income countries. With thelaunch of the 12th FYP, China has set its sights on becominga high income country by 2030 through a strategy combininghigh levels of investment with rapid advances in technologycomparable to that of Japan from the 1960s through the1970s, and Korea s from the 1980s through the end of thecentury. The report concludes that the best bet is aninnovation system anchored to and drawing its energy from acompetitive national economy. Technological progress and theflourishing of innovation in China will be the function of acompetitive, globally networked ecosystem constructed in twostages during 2011- 2030. Government technology cumcompetition policies will provide impetus in the firststage, but success will hinge on the quality of theworkforce, the initiative and policies of firms, theemergence of supporting services.
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