In the past couple of years alone, millions of dollars have been invested to boost the local knowledge-based sector.
And as China shifts from a manufacturing to knowledge-based economy, expect it to invest in "knowledge based" sectors like insurance, finance and hi-tech software firms.
Michel Juneau-Katsuya, former Asia-Pacific bureau chief for the Canadian Security Intelligence Service, said Canada's knowledge-based, hi-tech sectors were a prime target for corporate espionage, which he estimated cost the economy about $100bn annually.
Many of the factories have now closed, to be replaced by developments in the knowledge-based and green-energy sectors.
"We intend to do that by expanding what we offer to more sectors, particularly knowledge-based businesses and tech-enabled companies, and to use our national footprint of 12 offices across the U.K. and Ireland to invest in more companies based outside London".
It also says its remit is expanding to include multiple sectors, such as knowledge-based businesses and "tech-enabled" companies, and in numerous regions across the U.K. "The challenge for BGF Ventures now is to disrupt early stage investing in the way that BGF has disrupted growth investing since 2011," says Calver in a statement.
But when labor costs began to rise, competing globally in those sectors got tougher, so "knowledge-based industries were the way forward," Mr. Choi said.
The only way out, he insists, is "to learn the tools of innovation" and forge entirely new, knowledge-based industries in energy technology, biotechnology and other science-based sectors.It is natural to be sceptical of such dour arguments and calls for government action.
Abu Dhabi's "Economic Vision 2030" seeks to create a globally competitive knowledge-based economy, whereas abruptly herding locals into public-sector jobs adds no real value.
It seems that the Chinese government has effectively used the public-sector research potential to boost the knowledge-based economy of the country.
