Innovation Power

Eric Schmidt: “The ability to innovate faster and better—the foundation on which military, economic, and cultural power now rest—will determine the outcome of the great-power competition between the United States and China.”

“For now, the United States remains in the lead. But China is catching up in many areas and has already surged ahead in others. To emerge victorious from this century-defining contest, business as usual will not do. Instead, the U.S. government will have to overcome its stultified bureaucratic impulses, create favorable conditions for innovation, and invest in the tools and talent needed to kick-start the virtuous cycle of technological advancement.”