China is the only middle-income country in the Global Innovation Index top-30 (at 11th place in 2022).

There are a range of theories that try to explain China's rise in this area: state capitalism, technology theft, returnee talent, or forced technology transfer.

I feel it's a combination of some fundamental factors. Higher investment in education and infrastructure, a benign geopolitical climate that permitted technology transfers, and a State focus on innovation.

While many individual policies have failed to deliver the promised results, they have been able to spur private R&D investment.

What is your view?