Annual Meeting 2012 - Innovation and R&D in China

Innovation and R&D in China
Langdon Morris, Director, Innovation, PwC

We all know that the impact of China on the global economy will be decisive in the coming decades, both with respect to China as a producer for the other nations, and increasingly as a consumer in its own right. We also know, and many are intimidated by, the massive number of technical graduates that Chinese universities are producing, and the impact this is likely to have on Chinese capabilities in R&D, engineering, manufacturing, and distribution. But we also know that the Chinese generally lack many of the skills that are often taken for granted in the west, including proficiency in creativity and innovation. So what are we to make of China, and what sort of relationships should western companies seek to establish with Chinese companies, and with their own Chinese subsidiaries?