Chart of the week: China’s great leap forward
In 2000 Japan, the US and the EU accounted for 81% of all global patent filings; by 2015 this figure had shrunk to 34%. Now China tops the charts, with 51% of worldwide claims.
Worldwide patent applications jumped from around 800,000 to 1.8 million between 2000 and 2015. And there has been a major change in the distribution of the filings, says the Federal Reserve Bank of St. Louis.
In 2000 Japan, the US and the EU accounted for 47%, 20% and 14% of all global filings; by 2015 this figure had shrunk to a combined 34%. Now China tops the charts, comprising 51% of worldwide claims, up sharply from 32% in 2011. It looks as though the Middle Kingdom's greater emphasis on stimulating innovation as well as growth over the past five years is paying off.
Viewpoint
"The dreaded word stagflation cannot yet be applied to the British economy, but it may not be long before it is. Inflation remains persistently high while GDP growth is slowing to a point well below the long-run trend. Wages are growing at a sluggish pace and business investment has almost evaporated the fall in the pound that has generated much of the increase in prices has done little to improve the trade deficit. It all adds up to the average British worker putting in a 40-hour week for a salary that will be worth once prices are taken into account less than it was the month before. No wonder discount supermarkets Aldi and Lidl are cleaning up."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Observer
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
My 8% Nationwide regular saver has matured - what are my options?
The building society’s popular 8% account is maturing for many savers. Should you stick with Nationwide or move to a competitor?
By Ruth Emery Published
-
How your investment portfolio could benefit from a UK homebuilding boom
News Asset managers have committed funds to address the UK’s housing shortage but is it worth building this into your investment portfolio?
By Marc Shoffman Published