In the era of globalization, achieving national and corporate strategic competitive advantage lies in the critical role of technology as the strategic instrument among companies and countries. This underscores the important role of technological innovation as the core catalyst and determinant of prosperity, corporate growth, and global economic welfare. At this point in time, the global economy is at a crossroads. There are many key economic players – an integrated European Union, a resource-rich Russia, a technology competing, Japan and Korea, and a rising India and Brazil. Yet, the USA and China are the key pthnary, countries which continue to have disproportionate impact and influence over the direction of the world economy. This is essentially due to their economic size and geopolitical prominence. Whether these two global players, simultaneously economic partners and security rivals, can cooperate in leading the world economy will be a critical determinant of how world economies and politics develop in the coming years.
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