“…When the explanations up to this point are analyzed at the country level, it is not difficult to say that although several rankings place EU member states such as Sweden, Finland, Germany, Denmark, and UK among the world leaders in terms of innovation performance, the rest of the EU member states remain mid-range, and the aggregate performance of the EU27 lags behind that of US and Japan, despite their significant prevalence over BRICS countries. In addition, China and India are quickly catching up with the former, displaying a particularly rapid rate of relative improvement; where, if China maintains its rate of improvement over the last five years, the performance gap with the EU27 will diminish in the short term [Archibugi et al, 2009]. Moreover, other Asian countries, such as South Korea and Singapore, which recently came to be considered the new innovation hot-spots, are also on their way forward.…”