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China in the Global Political Economy

From Developmental to Entrepreneurial

Gordon C.K. Cheung

Is the US losing its economic authority to China, whose global economic identity is being determined more by entrepreneurial spirit than developmental principle? Through the exercise of soft power and hard currency in some areas of the global economy, China has clear national interest in the protection of intellectual property rights, financial integration and sovereign wealth funds. China’s Belt and Road Initiative and the Asian Infrastructure Investment Bank will set new standard to global economic development.
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Chapter 5: Innovation protection and the significance of intellectual property rights

Gordon C.K. Cheung

Extract

China’s economic interest increasingly will be determined by the protection of IPRs. In connection with the new normal and a slower growth rate, China is moving towards a more mature economy with more emphasis on quality of growth. We have seen many new models of economic development linking high tech, innovation and IPRs protection. There is ample evidence that China is determined to create its own global brands and therefore IPRs protection has become imperative. This chapter will try to understand the legal area of IPRs protection in China and progress and future challenges. In addition, it will discuss the US’s and China’s IPRs disputes and further examine how and in what ways others can keep track of China’s IPRs development. Finally, this chapter aims to better understand China’s new economic strategies, with a view to investigating the role of innovation in connection with IPRs protection.

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