Malcom McNeil was quoted in the Yahoo Finance article "SIP: From Industry to Innovation." While the full text can be found in the October 1, 2013, issue of Yahoo Finance, a synopsis is noted below.
The Suzhou Industrial Park (SIP), a joint program between China and Singapore, has undergone an impressive transformation in recent years. The park initially focused on manufacturing, but its leaders knew that the real gains were to be made in innovation as opposed to just making products designed elsewhere.
The financial crisis accelerated this change. SIP is pioneering a path that China as a whole hopes to emulate by moving its economy away from low-end manufacturing and up the value chain.
Legal experts place emphasis on the importance of protecting IP.
"The long-term benefits of protecting IP far outweigh the short-term benefits of taking unfair advantage of the know-how," says McNeil.
"With technology moving so much faster today than it has in the past, China has the opportunity to benefit immensely," McNeil adds. "Many companies still currently see China as a replicator rather than an innovator. In order to shed that image, measures have to be taken to ensure companies find it okay to bring in more highly refined manufacturing, moving from stuffed animals to silicon chips."
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