Think that the emerging markets are just a great source of ‘cheap labor’ ?
Read a terrific article in this week’s Economist about how these markets are quickly becoming centers of innovation and changing the business landscape.
I can personally attest to this with regard to the China market. What I see in our folks is passion, creativity and innovation. Tapping into this global though leadership takes US companies that ‘get it’ to exciting new levels of growth that far outreach what can be achieved by putting the blinders on and ignoring what is going on in the world.
There is a very cool animation included with the article.
Pull the ‘slider’ at the bottom to 1985 and press the ‘play’ button. You can watch the emerging companies ‘chasing’ the leaders up the innovation scale. Watch the acceleration of China, India and South Korea – emerging out of nowhere in the late ’80s / early ’90s as they move quickly both the R&D spending and International Patent axis at the same time.
What’s interesting to me is that we talk about IP issues – but in the realm of International patents, you get to see the shift of where the IP is actually being born. Check out a complimentary report on international patent application and grants comparing 2000 with 2006. The US and Japan stay pretty even, but the emerging nations (especially South Korea) just explode onto the scene.
And want to see the trends for 2008? Click here.
As the Economist article says, the world isn’t just flat – it’s turning upside down. May you live in ‘astonishing’ times!
Kevin
