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Jakarta Post

Integration of economies across the globe

  • Jusuf Wanandi

Jakarta   /   Mon, December 21 2009   /  11:08 am

One important thing China’s leaders have been able to show is unity, even when its economy declined during this crisis to levels considered critical to its development — at around 5 percent growth — as in the last quarter of 2008.It is also an important development that the US, which has been able to stay competitive in global economic developments, recognizes the need for more investment in innovation and R & D in the future, especially through better education in sciences and technology. Otherwise countries such as China will take over in the next few decades, because they are willing to invest more in R & D and in upgrading their education systems. China has been sending up to half a million students every year to study abroad at the best tertiary institutions. It has also been willing to hire them back to undertake research and development in China by
providing high...