I would not conclude that from one graph. But i think it's worth investigating. Much of what you describe applies to countries where the middle class eroded (west) or didnt quite emerge to the same extent (india).
Re: Nokia - because they were all using Nokia? There are enough legitimately innovative and quality Chinese companies out there who were not protected to believe that they could achieve this stuff on their own: Alibaba, DJI, Tencent to name a few.
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No I just used it as an arbitrary example. I'm not trying to downplay their ingenuity and competence, it's not a question of being capable to innovate but rather the market to be fully capitalized from abroad before you get to that level.
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Nor do I suggest this is China specific in any way btw. Hungary opened up much more in the 90s and we have only started to see anything remotely resembling innovation in Budapest recently.
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