Can China Innovate?

The drive from the center of Beijing to the suburban home of one of China's most important new industries takes about 45 minutes. That isn't bad, given that the distance traversed spans two countries—Old China, with one foot in the poor, developing world, and New China, a nation close to the forefront of biotechnology and genetic engineering. Turn off from the main highway—where many Chinese still ride bikes or trudge by foot along the side of the road—and drive into the sparkling new Zhongguancun Life Science Park (replete with two man-made lakes, one in the shape of a human heart, the...