Move over US -- China to be new driver of world's economy and innovation

Technology indicators A new study of worldwide technological competitiveness suggests China may soon rival the United States as the principal driver of the world’s economy – a position the U.S. has held since the end of World War II. If that happens, it will mark the first time in nearly a century that two nations have competed for leadership as equals [*].

The study’s indicators predict that China will soon pass the United States in the critical ability to develop basic science and technology, turn those developments into products and services – and then market them to the world.

[*We will not be 'equals'. We can no longer afford to tax and regulate our industry in isolation - it will lead to oblivion in the global economy. First step: changing to a consumption tax vs. taxing our industry TWICE for all exports, when all other developed countries pay ZERO (are refunded by their governments)]

www.eurekalert.org/pub_releases/2008-01/giot-mou012408.php