TAIPEI (Taiwan News) — Taiwan is the country in the world with the highest density of advanced technology firms, the Information Technology and Innovation Foundation (ITIF) said Thursday (June 9).
According to a survey by the think tank, the United States has fallen behind China in four out of seven key industries, and should do its utmost to catch up, CNA reported. The U.S. is still only leading in information technology, and information services including software and the Internet, transportation, and aerospace.
Asian countries hold higher shares of the global market in advanced industrial sectors than the U.S., the research found. China occupied a share 34% higher than the global average in 2018, while Taiwan and South Korea both achieved more than twice the average.
In order to match China, U.S. output would have to expand by more than 42%, ITIF recommended. The report said that innovation was not enough, but had to be followed by local manufacturing.
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