marin14_innovation globalization

Is Globalization Harming Innovation?

New studies show that, while greater competition from China has contributed to an increase in patents in Europe, it has reduced the innovation rate in the US. These divergent outcomes are partly attributable to changes in the manufacturing sector.

MUNICH – Globalization encourages innovation, or so the conventional wisdom goes. But emerging evidence suggests that this assumption, like so many economic shibboleths, must be rethought.