» EconomicsOn a recent trip to Korea, I visited Gwanghwamun Plaza in Seoul and saw magnificent statues of two Korean heroes: King Sejong the Great and Admiral Yi Sun-shin. Both men were remarkably creative. Their accomplishments exemplify Korea’s rich history of innovation. King Sejong was the fourth king of the Joseon Dynasty. In the 15th century, he created [...] Korea is currently one of the most innovative countries in the world. This was made possible in part by the establishment of a national innovation system by the Korean government shortly after the First Five Year Plan for Economic Development was introduced in 1962. Over the past half century, the government has implemented a series of [...] In the city of Shenzhen, directly north of Hong Kong, universities have been setting up research institutes in the Shenzhen Virtual University Park. Among them are four of the top five Hong Kong universities: Hong Kong University of Science and Technology, Chinese University of Hong Kong, City University of Hong Kong, and Hong Kong Polytechnic [...] Shenzhen Virtual University Park is situated within the Shenzhen Hi-tech Industrial Park (Shenzhen HIP), which focuses on the development of biology, electronics, information technology, optical electromechanical integration, pharmaceuticals and other high-tech industries. Shenzhen HIP serves as center for collaborative projects between university research institutes, investors, and high-tech firms that transform scientific and technological achievements into [...] The research institutes set up by universities in the Shenzhen Virtual University Park consist of labs, classrooms, and administrative offices. They offer training to research staff and students, establish high-tech enterprises, develop advanced technologies, and commercialize research outputs. The park has produced tens of thousands of postgraduates. The Shenzhen Virtual University Park in China is a win-win situation for the city of Shenzhen and the Hong Kong universities setting up research facilities there. Prior to the park’s opening, there were only two colleges in Shenzhen. More were required to train enough workers for the burgeoning manufacturing hub. So Shenzhen built the park [...] In the current issue of BusinessWeek, Michelle Conlin writes that the percentage of top MBAs from U.S. universities who are taking jobs in Asia has more than doubled since 2005. It’s now over 10 percent of the graduating class. What’s luring them to the East? More opportunities to make an impact, work in an emerging market, [...] While immigrants represent only 12 percent of the U.S. population, their economic and intellectual contributions have been significant. They’ve started more than half of the technology companies in Silicon Valley and contributed to over one quarter of U.S.-originated international patents. Offering skilled immigrants permanent residence instead of temporary visas will increase the number who come to [...] In order for the U.S. to maintain its competitive edge in the global economy, it needs to focus on attracting skilled professionals. One of the best ways to do this is by allowing more skilled immigrants to become permanent residents. I’m not talking about unskilled, illegal immigrants who sneak in the back door. The kind of [...] Yesterday, I blogged about the StartUp Visa Act. Proposed by U.S. Senators John Kerry (D-MA) and Richard Lugar (R-IN) , the act would provide incentive for immigrant entrepreneurs to create jobs in the U.S. The StartUp Visa Act is a step in the right direction. It will help keep jobs and innovation in the U.S. These [...] U.S. Senators John Kerry (D-MA) and Richard Lugar (R-IN) recently proposed the StartUp Visa Act, which would provide incentive for immigrant entrepreneurs to create jobs in the U.S. If passed, the act would create a two-year visa for any immigrant entrepreneur who can secure at least $250,000 from U.S. investors. At the end of the two [...] International students are increasingly choosing to return to their home countries to work and start new businesses. The Organization for Economic Cooperation and Development found that over 40 percent of non-U.S. doctoral degree recipients intended to leave the U.S. Even highly educated and skilled immigrants who have worked in the U.S. for years are returning home. [...] In the current issue of BusinessWeek, Michelle Conlin writes that the percentage of top MBAs from U.S. universities who are taking jobs in Asia has more than doubled since 2005. It’s now over 10 percent of the graduating class. What’s luring them to the East? More opportunities to make an impact, work in an emerging [...] Martin Jacques’ new book, When China Rules the World: The End of the Western World and the Birth of a New Global Order, is causing controversy. Is it possible that China will “rule the world” in the not-so-distant future? Perhaps, but only if it’s able to successfully transform from an industrial-based economy to a knowledge-based economy, [...] Martin Jacques’ new book, When China Rules the World: The End of the Western World and the Birth of a New Global Order, is causing controversy. Is it possible that China will “rule the world” in the not-so-distant future? Perhaps, but only if it’s able to successfully transform from an industrial-based economy to a knowledge-based [...] Since 2004, the world’s top 200 universities have been ranked annually by the Times Higher Education-QS World University Rankings. Recently, Asian universities have been making significant gains on the U.S., long considered to have the world’s best universities. In 2008, the U.S. had 37 universities in the top 100 and 58 in the top 200. In [...] Asian nations are making enormous investments in their universities in order to produce massive numbers of innovative people who can contribute significantly to economic growth. Without increased state investment in universities, the U.S. will no longer have the best universities in the world, will no longer be the world’s innovation leader, and will no longer have [...] The goal of Asian nations to create world-class universities that surpass U.S. universities has “every prospect of success,” argued Yale University President Richard C. Levin in a recent lecture, titled “The Rise of Asia’s Universities.” Levin also stated that rising Asian nations “all recognize the importance of an educated workforce as a means to economic growth [...] Currently, the U.S. has the best universities in the world. They attract the best students from around the world. After graduating, these non-U.S. students often stay in the U.S. to work, helping to fuel the nation’s innovation and economic growth. However, when U.S. universities decline in quality and lose their elite status because of budget cuts, [...] Budgets are being cut from state-supported universities primarily because states are facing budget shortfalls of historic proportions. However, short-sighted state politics like this lead to long-term consequences. For example, state budget cuts force universities to raise tuition, cap enrollment, and cut academic programs. These changes result in a smaller number of graduates, which in turn results [...] |
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