How China Is Building a Startup Boom
nytimes.com
nytimes.com
"A lot of these tactics are mistaken, but they show China cares about startups in a way the US does not."[0]
"China is doing to the US what the US did to Britain in the 19th century: growing their economy while we waste money on our empire."[1]
[0] https://twitter.com/paulg/status/772343525199474688 [1] https://twitter.com/paulg/status/772344187995947008
Buut... It's just so difficult. Isn't it? The lure of that grand empire that we had. :/
They're still a long-ways away from playing globo-cop, but all that island-building in the South China Sea is pretty telling. They're also doing a lot of infrastructure investment in Africa.
Look at Uber. They're hemorrhaging money all so that they can artificially lower wages and run their competitors out of business before ultimately going belly-up from their unsustainable business model. And they're considered a success story.
China seems to execute their growth strategy pretty well, with some occasional slowdowns. This is another instance of that strategy, but any other country could do the same. Maybe having only one party helps, but in many other cases those parties seem to care only about keeping their power. China's party has that too, still they are forward looking.
"The official explanation for China's economic reforms is that the country is in the primary stage of socialism, a developmental stage similar to the capitalist mode of production. The planned economy established under Mao Zedong was replaced by the socialist market economy, the current economic system, on the basis that "Practice is the Sole Criterion for the Truth" (i.e. the planned economy was deemed inefficient)." - https://en.wikipedia.org/wiki/Communist_Party_of_China
You're implying that current Chinese economic system is a 'socialist market economy'?
this is like the talking points about 7% gdp growth (fake number if you look at how poorly electricity,freight,luxury sales,real estates,stock market are doing), one silk road (no progress), increased trade with Russia (no progress), asian bank (now that they've militarily threatened their neighbors for SCS, pretty sure none of them are up for it)