China's future: Have talent, will thrive

China, whose current economic development strategy is heavily dependent on natural resources, fossil fuel, exports based on cheap labor, and extensive capital investment is discussed. China's leaders understand that the successful creation and growth of a knowledge-based economy requires a greatly enhanced talent pool composed of high-quality scientists, engineers, and other professionals. China has also encouraged multinational corporations (MNC) to move up the value chain in their China operations, upgrading their manufacturing activities and adding a substantial R and D capability to their local presence in China. China has yet to fully realize the onset of an achievement oriented set of norms and values that fully define the framework of performance, compensation, rewards, and incentives. China's interaction with the west could become the primary vehicle for helping to ensure China's role as a stakeholder in global affairs.