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In a recent article in the Washington Post, “Why China won’t own next generation manufacturing,” the author Vivek Wadhwa discusses China’s new 10-year plan, called “Made in China 2025.” The plan aims to modernize China’s manufacturing with advanced technologies such as robotics, 3-D printing, cloud computing, and big data. China has committed $150 billion […] Twenty-eight years ago, I would never have imagined that the President of the United States and other world leaders would visit my hometown, Hangzhou, and discuss important matters that will affect humanity’s future. Shutterstock The Hangzhou I left behind was a backwater town, with narrow alleys and rundown dwellings. There was only one […] It was not too long ago that Apple’s iPhone was a status symbol among young Chinese middle class consumers. They would stand in a long line before the launch of a new iPhone and spend a month’s salary just to own one. This has changed. According to a Financial Times article, Chinese consumers no […] When I was in China this March, one of the best conveniecnes was to ride around town on Uber. The price was ridiculously cheap. Uber drivers told me how much bonus they would get as long as they were on the road. I knew Uber was locked in a bloody battle with its Chinese rival […] This video by Jonah Kessel of the New York Times came out about the same time as my previous article It’s Time for Facebook to Copy WeChat. It explains how WeChat works in greater detail. Enjoy! Many in the West have long disdained Chinese firms as copycats. Some believe that no innovation from China can be called original. Baidu looks like Google, they argue, Alibaba is a version of Amazon, and Tencent imitates Facebook. Wrong. In the example of Tencent’s WeChat, the Chinese social media platform, Western equivalents such as Facebook […] I am honored to be invited to speak at the Economist Innovation Summit in Hong Kong on Sept. 6, 2016. The Summit gathers entrepreneurs, venture capitalists, and industry luminaries to examine how Chinese firms have evolved from copycats to innovators, and what impact they will have on the rest of the world. A couple of […] The Chinese economy may have slowed down, but Chinese consumers haven’t. In 2015, consumer spending increased approximately 13 percent, compared to less than 7 percent growth in GDP. A recent McKinsey report indicates that Chinese consumers have remained confident despite the economy slowing down. Among the 10,000 individuals surveyed by McKinsey, 55 percent expected their […] I just finished reading Henry Kissinger’s book On China, a five-hundred-page volume of detailed historical accounts of China’s relationship with the West. It was an excellent read. Few statesmen and policy makers in our time understand China as well as Dr. Kissinger. Kissinger begins by introducing the Chinese way of thinking. He couldn’t have used […] |