Byline: Ernest H. Preeg, SPECIAL TO THE WASHINGTON TIMES
In April 2005, Premier Wen Jiabao summarized the Chinese economic strategy in starkest terms: "Science and technology are the decisive factors in the competition of comprehensive economic strength. ... We must introduce and learn from the world's achievements in advanced science and technology, but what is most important is to base ourselves on independent innovation ... [which] is the national strategy."
China has pursued this advanced technology strategy since 1995 with impressive results. Research and development (R&D) has grown more than 20 percent yearly compared with 6 percent in the United States and 5 percent in Europe and Japan. University students have tripled, and China now graduates 6 times as many engineers as the United States.
Chinese exports are the bottom-line indicator of competitive economic …