One of biggest super powers of the world, China made it to the top 20 of the world’s highly-innovative economies while Switzerland kept their position as the number 1 country in terms of the GI Index ranking which is published every year by the Cornell University along with the efforts of INSEAD in addition to the WIP organization.
In their 3rd edition of the publication, the index for GI is a quantitative measuring tool that works in detail which aids in the worldwide decision making authorities to be in a better position of being able to understand the way the stimulation as well as the ensuring of the fact which would result in a more advanced level of physical as well as human development. The GI index ranked as much as 126 economies of the countries which were actually based on more than eighty indicators, which included the filing rates of the intellectual property of these economies to the minor details like the mobile phone application formation, this would result in the education expenditure, as well as the scientific in addition to the enormous number of technical publications.
The China’s ranking at number in the year 2019 shows that there is a huge breakthrough which could be seen for any economy that would be going through a very quick transformation which was navigated by the policies of the government which put the research orientation as the topmost priority. The economy of the United States of America fell down to the 6th number of economies as showed by the GI Index for the year 2018, this shows an innovative production center which led to the production of some of the globally largest highly developed technological firms as well as contributing to innovations that changed the lives of the world.
The DG at the WIP organization, Mr. Francis Gurry stated that: “China’s rapid rise reflects a strategic direction set by top leadership to develop world-class capacity in innovation and move the structural basis of the economy to more knowledge-intensive industries that rely on innovation to maintain competitive advantage,”
The Director General went on to add that: “It heralds the arrival of multipolar innovation.”