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Innovation and regional development: constructing regional advantage
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As a point of departure it is important that the contemporary phase of globalization, which can
best be described as a globalizing knowledge economy, is recognized. The picture is not any longer
only characterized by outsourcing/offshoring to developing economies such as China and India of
labour intensive production of manufacturing goods and services but increasingly also by offshoring
of R&D and innovation. Adding to this situation of an emerging global knowledge economy
is investments in R&D organizations in Europe and North America by TNCs from India and China.