S&T in EU and China
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Abstract: The relationship between s&t and economic growth, S&T development and innovation in eu and china have been remaining a focus for research. In this article it will present the S&T history and condition in EU and China, analyze the dynamic of S&T development of each according to different indicators, and discuss the obstacles and challenges EU and China will face.
Key Words: Science and Technology, EU, China
Ⅰ. Introduction
Profound economic changes are considered to be related to the science and technology as well its innovation. Technology has a pervasive influence on economic activity, in turn economic factors have a strong impact on the speed and direction of technological developments. In this essay, the S&T history and the condition of EU and China will be presented, the dynamic of S&T development will be analyzed in terms of national S&T financing indicator, national R&D personnel indicator and national S&T output indicator, also the obstacles and challenges will be discussed
Ⅱ. S&T and Economic Growth
1. W.Rostow theory——The Stages of Economic Growth.According to W.W.Rostow, all societies, in the economic dimensions, can be divided into 5 stages in terms of “the traditional society”, “the preconditions for take-off”, “the take-off”, “the drive to maturity”, and “the age of high mass-consumption”. [1]Based on the Rostow’s theory, it has become a truism of economic sciences that technological development is a decisive factor of economic growth and plays a prominent role in increasing production, productivity and effectiveness.
2. S&T and Competitiveness
S&T and micro-level competitiveness——A recent study based on survey data and interviews with firms has focused on corporate performance with respect to adopting and applying technology in the United States, Japan and Europe. It proves that “companies that are first to market with products based on advanced technologies command higher margins and gain market shares. Companies that spin out variants more rapidly and leverage their core technologies across more markets earn higher returns.” Therefore, S&T is the dominant and decisive factor of the micro-level competitiveness. [2]
S&T and macro-level competitiveness—— Empirical testing of the model shows that Japan’s large gains in market share during 196-1973 can be explained by a combination of a rapid increase in technological competitiveness, a further catching-up effect associated with the international diffusion of technology and a high level of investment. 3.S&T and Economic Globalization & InterdependenceEconomic globalization needs technological interdependence. The process of industrial technological globalization is now forming a complicated patchwork of corporate networks directed to sourcing and exploitation of technology. International interdependence and cooperation occupy a central place in the technology policies of countries nowadays, especially developing countries.