The big brother gets his hands in everything. They want to turn tech giants into corrupt, in-efficient, state-run companies? It is not going to be good for the Chinese tech giants. I feel bad for them.
Half of Chinese economy are state-owned enterprises, and it's been even more so earlier. Mainstream assumption is that liberalization of the rest of their economy was the main factor in phenomenal Chinese growth over the past decades, but there's an argument to be made that maybe it was a mix of central planning of key sectors and liberalization of non-key sectors. In either case, when compared to neoliberal Reagan-Thatcher policies in the US and elsewhere, Chinese approach of long-term planning beyond the next quarterly earnings report seems like a better bet so far.
We run all of our companies like China runs its economy. It’s funny to realize sometimes how dogmatic we are about this or that type of government being objectively best. Democratic republics have become failed states too. Sometimes I admire their ability to actually get shit done (transit systems etc).
Of course, if I were a dissident I’d rather be in the US.
If you look at GDP per capita growth be it China or other places, the striking thing is that stability seems to matter more than almost any level of policy differences.
E.g. you can see China's growth skyrocketing after the end of their semi-regular ideological purges, but Deng's large-scale reforms seems to not have affected the rate of growth much.
Presumably when a regime remains stable, people learn to work around even quite severe constraints given enough time.
That of course does not mean that reforms may not be helpful in making life better for people (or worse), but that they may mean less in terms of overall economic growth than avoiding rapid change.
I'd guess that it will make those companies into somewhat more corrupt, in-efficient and state-run than they currently are, but that the change will be incremental. So I expect these companies to still take the world by storm.
They effectively have access to unlimited capital and cheap labor due to Chinese asset bubble. Yet, their penetration outside of China is still extremely limited.
That's not a great sign for the long term as over the next 30 years a new set of Party members are going to want to enrich their family and will use whatever means nessisarily to do so.
As usual, we can depend on the Chinese government to ruin the (opportune for them) situations which they and businesses in China have worked so hard to create.
> Every time we witness an injustice and do not act, we train our character to be passive in its presence and thereby eventually lose all ability to defend ourselves and those we love.
I am not exactly a Julian Assange fan... in the least... but there is something to this quote.
The hard part about any quote, of course, is that the context in which the statement is originally made could be very different than the context here and the change of context can change the meaning entirely. And this can, over time, ascribe new positions to the person being quoted that they really don't hold. Not saying that is necessarily the case here, I don't know... just something to keep in mind.
> the context in which the statement is originally made could be very different than the context her
The context I replied to was gaining from the injustice (and suffering) inflicted on others, and being smug about it. What could change about the "context" - what one considers injustice? That's factored in already, and gloating is, as I see it, being passive and worse.
It doesn't matter who said it anyway, I bet you I could find you a lot of wise people who said it in different and expanded forms. He put it succinctly.
It takes guts to stand up for yourself when push comes to shove. When you water down the wine of what even you yourself consider just, subjective and restricted as we all may be, it will fail you.
I don't think so. Chinese investments in startups are reaching places American VCs are not interested in. If you read top VC blogs you realize that they don't want to flight far away to attend board meetings.
It's true. Good luck getting investment if you're not in a Tier 1 city. There are plenty of companies that start in smaller cities/towns that end up moving to NYC/Chicago/LA/SF,etc because investors don't bother considering them if they're not from a big city
It will be very interesting to see how they goes, but I don't believe it will yield many good results (If any).
Censorship already preventing China's tech companies from reaching global market, now this.
[0] https://en.wikipedia.org/wiki/One-child_policy