For the first time ever, China is named the top 20 most innovative economies in the world, with the United States dropping out from the top five in the list – according to the Global Innovation Index 2018 report.
Switzerland is in the first place, followed by the Netherlands, Sweden, Great Britain and Singapore.
From the last year’s fourth place, the United States fell to the sixth this year, while China advanced from the 22nd to the 17th position.
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Director of the World Intellectual Property Organization (WIPO), Francis Gurry, said yesterday that China’s position was a step forward for its economy, which has been rapidly transforming and focuses more on research and ingenious solutions. The WIPO is one of the sponsors of the report.
According to the index, 20 economies with medium and lower incomes have proved “significantly better” than their level of development. South Africa, Tunisia and Colombia made it to the list for the first time this year.
Six other most innovative economies also come from the sub-Saharan Africa. Along with South Africa, they are Kenya, Rwanda, Mozambique, Malawi and Madagascar.
Also, five countries from Eastern Europe – Moldova, Armenia, Ukraine, Montenegro and Serbia – have made it to the list with Serbia ranked the 55th in the world.
The Innovation Index is issued annually by the WIPO, Cornell University and INSEAD Business School.
(Nova Ekonomija, 11.07.2018)
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