That is why there emerged the so-called “catching up and imitation” concept in development economics. Over more than ten centuries in history, China’s science and technology was second to none in the world. Our intangible assets have made exceptional contributions to the development of human civilization. The well-known “Four Great Inventions” of Ancient China have contributed to the emergence of capitalism in Europe.
Without gunpowder, compass, and the printing technology, there would be no modern industrial economy. Great men in history such as Francis Bacon and Karl Marx have all spoke highly of that. That being said, it seems in retrospect that our ancestors have their own regrets. Though they have invented so many things, they only failed to invent “IPR”.