China and the Knowledge Economy : Seizing the 21st Century

At the turn of the 21st Century, China faces daunting internal challenges compounded by the knowledge and information revolution. To overcome these challenges the Chinese government must take on a new role to quickly exploit the knowledge revolution : The role of architect of appropriate institutions and provider of incentives to promote and regulate a new socialist market economy based on knowledge. China and the Knowledge Economy : Seizing the 21st Century presents policy recommendations for China as it moves from a command, industrial, and agriculture-based economy to a knowledge-based economy. This book, prepared by the World Bank in collaboration with the Chinese government and leading academics, argues that China will have to build solid foundations for a knowledge-based economy by : -Updating the economic incentive and institutional regime;-Updating education and learning, and -Building information infrastructure. China must also raise the technological level of the economy by : -Diffusing new technologies actively throughout the economy;-Improving the research and development system, and -Exploiting global knowledge.