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The history-making development of the Chinese economy has entered a new phase. China is moving aggressively from a strategy of imitation to one of innovation. Driven both by domestic needs and by global ambition, China is establishing itself at the forefront of technological innovation. Western businesses need to prepare for a tidal wave of innovation from China that is about to hit Western markets, and Chinese businesses need to understand the critical importance of innovation in their future.

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George S. Yip is Professor of Marketing and Strategy at Imperial College Business School in London. He was previously Professor of Strategy and Codirector of the Centre on China Innovation at China Europe International Business School in Shanghai. Bruce McKern is former director of Stanford University´s Sloan Master´s Program, Visiting Professor at CEIBS, and Visiting Research Fellow at Oxford University and INSEAD.

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