3 Tricks for Strategically Competing in the Global Innovation Smackdown
It matters which country invents and builds the biological technologies of the future. For the United States to compete effectively, it must avoid extreme decoupling, which severs innovation ecosystems and supply chains.
The United States’ defense budget is vast, but its 3.4 percent of U.S. gross domestic product (GDP) is dwarfed by healthcare’s 17 percent. Global finance looms large, but the global recession caused by finance problems in 2008 was only half as deep as that created by the coronavirus pandemic. This had a massive economic impact. At the same time, the biological aspects of various societies have been a central pillar of Western technological innovation: from improved crop yields to mRNA vaccines, pharma, digital health, or the CRISPR gene editor that won last year’s Nobel Prize.