Innovation Policy for Promoting Inclusive Growth and Competitiveness in the EU and in Asian Countries

When taking actions to promote the competitiveness of a given country or group, the benefi ts of higher growth and dynamic development should be reaped by all members of a given community or group and, thus, this growth should be inclusive. The aim of the paper is to present the role of the innovation policy in fostering inclusive growth in China and in the EU. It is arguable that this policy should, in particular, support the growth of inclusive innovation irrespective of the level or value of the economic growth of a given country. However, given the diverse conditions of each country and, thus, different issues to be tackled, inclusive innovation must consider how unique such countries are. Supporting and developing inclusive innovation is not only the exclusive policy of developing countries such as China. In the EU, fostering this kind of innovation is highly encouraged, which contributes to achieving sustainable growth and ensuring benefits from inclusive innovations to EU inhabitants given that this is the major priority of this union and the foundation on which further continued growth of the EU is built.