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Policy Contribution

The challenge of China’s rise as a science and technology powerhouse

China's ambition to be a global leader in science and innovation by 2050 seems well within reach. The creation of US-Chinese science and technology networks is enabling China to catch up and helping the US to keep its position at the science frontier. What steps should be taken by the EU to engage more with China, not to miss out in the future multipolar science and technology world?

By: Date: July 4, 2017 Topic: Global Economics & Governance

China is building up its global competitiveness in knowledge-intensive sectors and its ambition to be a global leader in science and innovation by 2050 seems well within reach. China outperforms the European Union in terms of expenditure on research and development as a share of its GDP, and already produces about the same number of scientific publications, and more PhDs in natural sciences and engineering, than the United States.

China aspires to produce and capitalise on home-grown scientific talent, but its growth model for science still involves sending out its increasingly better locally-trained scholars to the best institutes in the world and reaping the benefits when they return in the later stages of their careers, after they have fully developed their capabilities and built their networks. The US remains the favoured destination for Chinese students, which has led to the creation of US-Chinese science and technology networks and connections that are mutually beneficial: enabling China to catch up and helping the US to keep its position at the science frontier.

The EU has much less-developed scientific connections to China than the US. The EU should take steps to engage more with China if it is not to miss out in the future multipolar science and technology world.

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Opinion

Why the US Trade Agreement will slow China’s economy

The response of the global financial markets to the trade agreement reached between the United States and China has been very positive, probably excessively so given the relatively limited size of the agreement reached.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: February 20, 2020
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Opinion

Epidemic tests China’s supply chain dominance

Much has been written on the Wuhan coronavirus that causes the respiratory disease Covid-19, but very little is known yet about its impact on the global economy and, in particular, the global value chain. Still, one thing is clear: The shock is bigger than that caused by severe acute respiratory syndrome (SARS), for the simple reason that China is much more important for the global economy than it was then.

By: Alicia García-Herrero Topic: Global Economics & Governance Date: February 17, 2020
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Future of the EU-UK science cooperation

How do we rebuild and keep the science cooperation between the EU and the UK?

Speakers: Michael Leigh, Beth Thompson and Guntram B. Wolff Topic: European Macroeconomics & Governance, Innovation & Competition Policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels
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Opinion

China’s Coronavirus will not lead to recession but to stimulus and even more debt

The coronavirus outbreak will not lead to recession but the costs of ensuring growth targets will be high

By: Alicia García-Herrero Topic: Global Economics & Governance Date: February 6, 2020
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External Publication

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By: Alicia García-Herrero Topic: Global Economics & Governance Date: February 3, 2020
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Opinion

The US-China trade agreement will not put an end to geopolitical risks

The agreement between the US and China should not be read so positively in Europe, especially in Germany

By: Alicia García-Herrero Topic: Global Economics & Governance Date: January 31, 2020
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Past Event

Past Event

A post-Brexit agreement for research and innovation

What is the future of EU's and UK's relationship on research and innovation?

Speakers: Gina Dowding, Philippe Lamberts, Michael Leigh, Adrian Hayday, Clare Moody, Martin Muller, Joe Owen, Jaroslaw Pietras, Uta Staiger, André Sapir, Beth Thompson and Guntram B. Wolff Topic: European Macroeconomics & Governance, Innovation & Competition Policy Location: Bruegel, Rue de la Charité 33, 1210 Brussels Date: January 28, 2020
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Opinion

Stability remains key to China

The most concerning aspect for the Chinese economy will still be to hold up domestic demand. The rapidly rising household debt will put further breaks of the households' ability to purchase durable goods

By: Alicia García-Herrero and Jianwei Xu Topic: Global Economics & Governance Date: January 15, 2020
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Opinion

Could the U.S. economy be experiencing a hidden tech-driven productivity revolution?

In the last decade, most advanced economies have grown more slowly than before. Slower growth has frequently been seen as a legacy of financial crises, especially that of 2007–2009.

By: Marek Dabrowski Topic: Innovation & Competition Policy Date: January 6, 2020
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Blog Post

Lessons from the China-US trade truce

The tentatively agreed deal between China and the United States temporarily stops a dangerous dynamic, yet it falls far short of the negotiating objectives of both sides. US trade policy has become a dominion of the executive branch guided principally by the President’s electoral interests. Meanwhile, China demonstrates its capacity to resist pressure: it will enact structural reforms at its own pace in line with its interests. Sadly, the deal confirms that the United States no longer feels obligated to follow WTO rules, and can induce others to do the same.

By: Uri Dadush and Marta Domínguez-Jiménez Topic: Global Economics & Governance Date: December 19, 2019
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Podcast

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How do states exercise power through global economic networks? The multilateral world order is supposed to be harmonious, but by seizing the nodes of production, powerful forces can control access to the global economic system and threaten to lock their rival out. This week, Nicholas Barrett and Guntram Wolff are joined by Henry Farrell, Professor of political science and international affairs at the George Washington University, and Abraham L. Newman, Professor of Government at the Georgetown University, to discuss their theory of weaponised interdependency

By: The Sound of Economics Topic: Global Economics & Governance Date: December 16, 2019
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Opinion

Watch out for China’s currency in case of no-deal scenario

The U.S. and China’s negotiations on a phase-one deal seem to have stalled again. The market was already aware of the limited nature of the likely deal, but was still hoping for it. Against this backdrop, the investors have reacted negatively to the increased likelihood of not reaching a deal on December 15. If this is the case, the U.S. will apply additional tariffs on Chinese imports. The obvious question to address, thus, is, what can happen to China under such a scenario?

By: Alicia García-Herrero Topic: Finance & Financial Regulation Date: December 11, 2019
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