Survey: China to challenge U.S. in tech

NEW YORK, June 27 (UPI) -- China will join the United States as a future leader in technological innovations, a survey of worldwide technology executives found.

A survey by audit, tax and advisory firm KPMG of business executives in the Americas, Asia Pacific, Europe, the Middle East and Africa found a third of them saying China and the United States show the most promise for technological breakthroughs with global impacts.

Thirty-nine percent of U.S. survey respondents selected the United States as most promising, while 71 percent in China selected China, a KPMG release said.

"The pace of technology innovations today is happening at unparalleled speed and China's projected rapid rise to prominence as a technology leader would be another example of this," Gary Matuszak of KPMG's Technology, Media and Telecommunications practice said.

"China's anticipated parity with the U.S. tech sector shows the significant challenge facing the United States to retain its position as an innovation leader, as other key countries will continue to take steps to boost technology innovation and attract tech entrepreneurs as well," he said.

Forty-four percent of survey respondents said it was likely the technology innovation center of the world would shift from Silicon Valley to another country in the next four years, although 23 percent said it is unlikely and 34 percent were undecided.