World to gain from China's 'better goods at lower prices'

By I was flummoxed last week when my collegian son, 17, who studies in Bengaluru in South India, asked me why there was so much social media chat about innovation in China. He said many are now forecasting the country will spearhead innovation.

He is a proud Indian who believes India is the global innovation hotspot. So, to learn there are other countries vying for that tag appears to have upset him. Since I didn't have a ready answer, I promised to get back to him later.

Two recent expert observations enlightened me on what China is now doing best.