Europe has built an economic framework that protects yesterday’s champions at the expense of tomorrow’s potential winners. To remain competitive, sovereign, and secure in the 21st century, it will need a new model geared toward promoting domestic innovation and commercialization at scale.
OXFORD—Technology has always been a source of power. During the centuries when China sat near the world’s frontier of invention, it was also a master of statecraft. But with the Industrial Revolution in Europe, the decisive technologies of steam, steel, railways, and rifled artillery shifted the balance of power westward, inaugurating a period embedded in China’s collective memory as the “century of humiliation.”
OXFORD—Technology has always been a source of power. During the centuries when China sat near the world’s frontier of invention, it was also a master of statecraft. But with the Industrial Revolution in Europe, the decisive technologies of steam, steel, railways, and rifled artillery shifted the balance of power westward, inaugurating a period embedded in China’s collective memory as the “century of humiliation.”