Australia has an Internationalization Problem or Innovation and R&D Problem?

​Both the Coalition and Labor allow to make cuts of Australia’s R&D tax incentive after questioning  by Prime Minister Turnbull’s innovation agenda. Still the international comparisons consistently show that Australia does not have innovation problem, it has an internalization problem. The top ten R&D profligate globally everyone invests about $10 billion per year on R&D. Research shows companies that are more internationalized are more innovative and perform better. Recently, released Global Innovation Index Report gives that winning at innovation needs to joining the global marketplace to find new users for your services, product and technologies and to gain knowledge helping you to further innovate. Australia is commonly small market, so profiting from any innovation depends upon international markets only. Then the benefits of openness are internationalization not only leads to new markets for your products and services. Australia is currently ranked 134 out of 140 in under the terms of imports as a percentage of GDP. To gain access to such knowledge, it must continue to open up its borders to foreign products, knowledge, and capital.