Reports & Briefings

The Canadian economy is shifting faster than its institutions are. This playbook lays out an agenda to address what Canada must fix, build, and scale in order to compete through technology.

Standard large nuclear reactors won’t achieve scale or cost competitiveness with alternative energy sources. DOE should focus its resources on small modular reactors, which are a more promising technology with the potential to achieve price and performance parity.

China’s industrial strategy calls for gaining market share in e-commerce to expand its global influence, financial footprint, and ability to compete in AI. Policymakers should act now to avoid leaving U.S. platforms at a structural disadvantage and exposing U.S. consumers to harm.

Rather than adopt the European Union’s model for regulating competition, policymakers considering how to govern digital markets should carefully evaluate whether digital antitrust regulation is justified and consider whether concerns about anticompetitive behavior can be addressed with less intrusive and more cost-effective tools.

Globalization 1.0 has failed, but protectionist autarky cannot be its replacement. Instead, it is past time to craft a new kind of globalization that advances U.S. interests in key industries and prevents China from becoming the dominant techno-economic power.

Follow-on biopharmaceutical innovations deliver substantial health and economic benefits by improving the safety and efficacy of existing therapies, addressing unmet patient needs, expanding therapeutic applications, and enhancing adherence. Supportive policies are essential to sustain progress and ensure broad access to these medical advances.

As the Trump administration seeks to rebalance America’s trade relationships, it should focus the most attention on countries where U.S. industries face the worst trade distortions and imbalances, and where the greatest gains can be achieved for the U.S. economy. China, India, and the European Union top that list.

South Korea stands at a crossroads as its restrictive “positive regulation” and “shadow regulations” stifle innovation in AI, crypto, and mobility tech, allowing China to race ahead. Korea must modernize this framework or risk losing its position as a global innovation leader.

The Inflation Reduction Act (IRA) undermines innovation in small-molecule drugs by subjecting them to price controls after 9 years, whereas large-molecule drugs (biologics) are allowed 13 years of market pricing. Congress should pass the bipartisan EPIC Act to remedy this issue.

This collaborative project between ITIF and Chey Institute for Advanced Studies compares and contrasts the national innovation systems of five economies—the United States, Korea, China, Japan, and Taiwan—to determine how well they are positioned to support innovation in key foundational and emerging technologies.