A challenge for Europe as Asia leads the way in the
knowledge economy [International]
[Source: Irish Times.com, 19 July 2010]
The ‘re-emergence’ of India and China as
strong economic forces has implications for Europe that cannot be
ignored according to a recent report commissioned by
HSBC. A shift in the balance of world trade to the Far East
means that in the future Europe will be looking to Asia for high
level skills (especially in science and technology), and as leaders
of innovation in markets like renewable and alternative energy
where they are already demonstrating an upper hand. The report also
points out that China and India, though traditionally most
competitive in production and manufacturing, are now increasingly
recognised as leaders in the knowledge economy with strong skills
in design and development.
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