Japanese industry is also enthusiastic about joint ventures, perhaps sensing a way to escape decades of economic stagnation.
As might be expected, China is also heavily involved, but an unexpected insight was that ‘old China’ is vanishing. Wages are rising and the educated young are only prepared to move to the major cities.
This is making life increasingly tough for the manufacturing model that powered growth during the past few decades; they are just not able to produce as efficiently or as cheaply as 10 years ago.
At a time of volatility and uncertainty I came away from my visit refreshed, convinced that in the absence of a demographic tailwind, developed economies will need innovation to grow.
Passing by Tel Megiddo, which is a Unesco World Heritage site, I was told that arch- aeologists had uncovered 26 levels of habitation going back 9,000 years.
It was also a good place for fighting battles, which explains why it is better known by its Greek name, Armageddon.
But, fortunately, Christ and Satan have yet to turn up for the final showdown – something to reflect on as we deal with the consequences of US democracy in action.
