>Then why aren't they leading in the generation of unique IP? The simple answer is that they are still in the "copying" stage. China is what, like 30k GDP on

>Then why aren't they leading in the generation of unique IP? The simple answer is that they are still in the "copying" stage. China is what, like 30k GDP on a PPP basis? I think they are still in the stage where the marginal returns on simply copying stuff are higher than frontier research for most of the industries they are in. They don't have the problem of something like Switzerland, where we need to figure out what a 110k GDP PPP looks like (the countries above us right now cannot be replicated for obvious reasons). China can mix match its way to 40,50,60,70k PPP for the next 10 years.