Global economic growth is slowing, and not in the short-term view. Most of the world’s countries are not on track to catch up with the US – the fastest and steadiest growing advanced economy – but are actually falling further behind year by year.
To achieve more sophisticated economies, countries need two successive transitions, not one. In the first, investment is complemented with infusion so that countries (primarily lower-middle-income countries) focus on imitating and diffusing modern technologies.
Second, innovation is added to the investment and infusion mix so that countries (primarily upper-middle-income countries) focus on building domestic capabilities to add value to global technologies, ultimately becoming innovators themselves.
This keynote will explore how the right mix of investment, infusion, and innovation—particularly in digital technologies—can drive sustained growth and help economies transition from imitation to innovation.