By He Jianwu, Department of Development Strategy and Regional Economy, DRC

Research Report, No. 112, 2020 (Total 5856) 2020-5-18

Abstract: In the context of the influencing factors including globalization, the new round of scientific and technological revolution and the changes in domestic development environment, some major changes have emerged in America’s social and economic development in recent years, which include the following. 1. Its innovation center begins to move to Boston, and its core areas of innovation are shifting from traditional electronic and information technology toward life science and artificial intelligence; 2. Its labor participation has witnessed a notable decline which is much lower than that of major developed European countries, showing an increasingly profound structural conflicts in the course of social and economic development of the U.S.; 3. The gap between different regions in terms of income and public services is becoming wider. With the changes in development environment, China’s development in the future will also experience such kind of changes and challenges. By drawing on US experience and lessons, China needs to increase more input in fundamental research and adopt inclusive employment and development policies; the reform of income distribution needs to be accelerated and the equalization of public services needs to be pushed ahead; the long-term plan needs to be formulated for the transformation of old industrial bases and resource-exhausted cites.

Keywords: innovation center, labor participation, regional gap, Boston