Robert Salomon submits: The most recent issue of The Economist ran a wonderful survey of innovation in emerging markets (see Special Report on Innovation in Emerging Markets). The collection of articles discusses how innovation is helping developing countries catch up with their developed country counterparts, and how emerging market multinationals, through internal innovation and acquisition, are becoming formidable global competitors.Developing countries are becoming hotbeds of business innovation in much the same way as Japan did from the 1950s onwards. They are coming up with new products and services that are dramatically cheaper than their Western equivalents: $3,000 cars, $300 computers and $30 mobile phones that provide nationwide service for just 2 cents a minute. They are reinventing systems of production and distribution, and they are experimenting with entirely new business models.Complete Story »