0ur reporterjonathan josephs spoke to wipo's director—general daren tang.ro economic leaf. i think what this means is it may be resulting in the to innovation. and i think what we need to do is that we know we are trying to encourage policymakers to look at this and to make sure that when people are innovative, they all have the best environment. right. to bring the idea to the market. when central banks are thinking about the cost of borrowing, are they thinking sufficiently about innovation and the perhaps chilling effect that a high costs of borrowing can have on innovation? i think there are probably two ways to look at this. but in this moment of downturn, right, what we tend to see is that there is a focus on quality again. that may not necessarily be a bad thing for innovation ecosystems around the world. so for when the cycle turns up again, there will really be game changing technologies that come into the market, just like after the financial crisis in 2010. so when we look at innovation in the global economy at the moment, a lot of the talk is ab

our reporterjonathanjosephs spoke to wipo's director—general, daren tang.a difficult situation economically. interest rates have gone up, money supply has dried up and as a result venture capital flow has reduced considerably. this means that it may be resulting in a reduction of oxygen to the innovation and what we need to do is encourage policymakers to look at this and to make sure that when people are innovative, they bring the best ideas to the market. luntimely the best ideas to the market. when central banks _ the best ideas to the market. when central banks are _ the best ideas to the market. when central banks are thinking - the best ideas to the market. when central banks are thinking about the cost of borrowing, either thinking sufficiently about innovation and the perhaps chilling effect of the high cost of borrowing can have on innovation?— high cost of borrowing can have on innovation? ., , ., , , ., innovation? there are probably two wa s to innovation? there are probably two ways to look _ innovation? there are probably two ways to look at.

0ur reporterjonathanjosephs spoke to wipo's director—general, daren tang.t for the last two years there has been a difficult situation macro economically. interest rates have gone up, money supply has dried up, and with the result that venture capital deal flow has reduced considerably. and i think this — what this means is that it may be resulting in a reduction of oxygen to the fire of innovation. and i think what we need to do is that, you know, we are trying to encourage policymakers to look at this and to make sure that when people are innovative, they all have the best environment, right. to bring the idea to the market. when central banks are thinking about the cost of borrowing, are they thinking sufficiently about innovation and the perhaps chilling effect that high costs of borrowing can have on innovation? i think there are probably two ways to look at this. but, in this moment of downturn, right, what we tend to see is that there is a focus on quality again. that may not necessarily be a bad thing for innovation ecosystems around the world. so,