German Industry Employment Falls to Lowest Level in a Decade 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Trump Questions USMCA Renewal as Trade Talks Continue 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
China has officially entered the top 10 of the United Nations’ Global Innovation Index (GII) for the first time, replacing Germany, Europe’s largest economy. The 2024 survey, which ranks 139 economies across 78 indicators, highlights China’s growing strength in research and development (R&D) investment, driven by firms in Beijing rapidly expanding private sector financing.
Switzerland maintained its lead as the world’s most innovative country, a title it has held since 2011, followed by Sweden, the United States, South Korea, Singapore, the United Kingdom, Finland, the Netherlands, and Denmark. China secured 10th place, underscoring its growing influence in global innovation and intellectual property.
The report revealed China contributed roughly 25% of international patent applications in 2024, reinforcing its role as the largest source of patents worldwide. In contrast, traditional leaders like the U.S., Japan, and Germany—collectively responsible for 40% of applications—saw slight declines. Patent ownership is widely recognized as a crucial measure of technological competitiveness and economic strength.
Despite China’s momentum, the GII warned of challenges ahead. Global R&D spending growth is projected to slow to 2.3% in 2024, down from 2.9% last year, marking the weakest pace since 2010. This slowdown raises concerns about long-term innovation capacity worldwide.
While Germany dropped to 11th place, experts emphasize its enduring reputation as an industrial innovator. However, the nation faces pressure to transform into a digital innovation leader to maintain global competitiveness. WIPO Director General Daren Tang noted that Germany’s challenge is leveraging its strong industrial base to excel in digital technologies.
China’s rise in the Global Innovation Index signals a significant shift in the global R&D landscape, positioning the country as a future powerhouse in science, technology, and innovation.
