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China's Economy: Behind All the Hype
Here's an interesting article underestimating China/Chinese ability to "innovate".
China's Economy: Behind All the Hype - BusinessWeek
But even more interesting are the comments, and most of them are NOT written by Chinese!
Steven Oct 23, 2009 5:46 AM GMT In many western reports: China has been collapsing for 60 years, China's financial system has been crapppy for 30 years. China's growth has been depending on US for 30 years. But the world economical crysis caused by US proved many things different.
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Richard Oct 23, 2009 5:41 AM GMT Who cares what these two little authors say about China? It is just the same China-bashing as before. The US is now going bankrupt.
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Shortsighted fools Oct 23, 2009 5:11 AM GMT It is simply astounding what China has accomplished in the last 30 years. No other country in history has been able to achieve what China achieved, and they did it with 1.3 Billion people!!! The US government could barely even get anything done anymore with only 300 million! England has all of 57 million and they are already way passed their expiration date. Only fools will continue to underestimate the will and might of the Chinese people!
Link to this comment
Black Cat Oct 23, 2009 4:37 AM GMT I am old enough to remember how "Made in Japan" signified cheap junk. Then the Japanese started producing automobiles and exporting them to America. Everybody knows how that turned out. China is currently in the economic stage where Japan was when it started exporting cars to America. It won't be long before we see innovative products based on Chinese research and development that astound the world. Developing countries have to learn to walk before they can run. It seems the authors of this article have not taken this into consideration.
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@Dexter Roberts and Pete Engardio Oct 23, 2009 4:30 AM GMT Don't speak too lowly of the Chinese because your computers might get hacked..both authors are insignificant little nobodies that should focus on the self destruction of America instead of disecting China's every faults. It's people like these authors that force China to cripple the U.S economy through cyber warfare. But these idiot authors can't figure out that the Chinese are better at hacking than Americans.
Link to this comment
DEATH to capitalism and christianity Oct 23, 2009 4:24 AM GMT I only read the first two lines of the article and I was already disgusted by the stupidity of the writers. Just watch China or dont. We Chinese will ALWAYS support our ancestral homeland no matter what idiots like these say about our beloved motherland. Ans....we will continue to watch the "western" countries stumble over themselves and laugh.
Link to this comment
passerby Oct 23, 2009 4:19 AM GMT A not so bad article I think. But even it holds many facts, it makes the same mistake as many previous analyses which underestimated the adaptability of China's economy. While the author complains about the unfriendly market for multinational companies, he tries hard to tell us that China is heavily dependent on the technologies of them. Seems the article was written by more than one writers but with a bad editor.
Link to this comment
Newbie Oct 23, 2009 4:10 AM GMT The authors use 'western' benchmarks and standards to make a judgement. While the article is about China, it applies to India as well. Hence if an Indian or a Chinese movie does not win Oscar, the verdict is it is not good. Who really cares about 'western' awards. If a person is not from Harvard she is no good (is what the authors are saying). Harvard is a business school of the past. It is no secret that China and India are poised to become the economies of the future. There is no way one can learn how to do business in these to countries by sitting in Harvard. The person has to be on ground. This is where Indian and Chinese b-schools will have an advantage. Who really cares whether somebody measures up to American standards. Large countries will establish their own standards, instead of following others'. Are we not glad that Toyota did NOT follow American auto manufacturing standards? Dexter and Pete have made a fool of themselves.
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American Counterfeit? Oct 23, 2009 3:27 AM GMT The fact that you use Nobels and Euro-league schools as a gauge of innovation shows how disconnected you are from reality. Innovation cannot be decreed from the commanding heights. Freedom to think and dream leads to innovation.
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cRXB Oct 23, 2009 3:23 AM GMT Here again, Another China-baSHING OR RIDICLING b.s.
hanyu choi Oct 23, 2009 2:59 AM GMT Harvard, Yale,Princeton, were not in the same league as Oxford,Cambridge in the 19th century. Hey Mao's Assasin, you have a very scary name. Is that your real name? Oh! I'm very scared.
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Mao's Assasin Oct 23, 2009 2:34 AM GMT Not a single world class college in America between 1901 and 1925? How many beers have you had? Lest we forget Harvard, Yale, Princeton, Brown etc...etc...etc.. Worship the Panda now, pay the bai mu later..
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hanyu choi Oct 23, 2009 2:23 AM GMT Between 1901 and 1925, there were only 2 American Nobel prize winners in sciences and none in medicine. During the same time period, there was not a single worid-class college in America. But America became the technological superoower in the 1930s, after more than 100 years copying European goods and later innovating on her own. Read the August 26, 2007 issue of THE BOSTON GLOBE. It will tell you how pitiful America was, when it came to innovation.
Link to this comment
America counterfeit? Oct 23, 2009 2:13 AM GMT Really? Maybe you should drink the Mao-aide. Let us see: Thomas Edison, counterfeiter? George Westinghouse, Counterfeiter? Here is an additional list for your reading pleasure: Category:American inventors - Wikipedia, the free encyclopedia
Link to this comment
hanyu choi Oct 23, 2009 1:47 AM GMT In 19th century,America was the counterfeit capital of the world.It copied many European inventions without regard to intellctual property rights.In the 1950s and the 60s Japan was the biggest copycat. You guys sound like sour grapes.
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James Oct 23, 2009 1:43 AM GMT It's really amazing how everytime there is an article about China people start talking nonsense. For all of the westerners and Chinese who are attacking each other's national pride and claiming China is going be invincible or they can only make toys and trinkets give yourself a reality check. China has HUGE potential and an equally HUGE set of problems to deal with. This is a very unsurprising reality. The interesting part will be watching how the problems are addressed and how much of the potential will be realized. Absolutes are nonsense.
Link to this comment
cup Oct 23, 2009 1:40 AM GMT Reading this paper by Roberts leads me to believe that it's not an accident that BusinessWeek is in the bankrupcy process or being bought out. The China Hype, as authors try to dismiss, has been growing in ~10% for over thirty years, this fact alone should make serious writers to pause for some critical thinking. In terms of economic development and innovation, writers like this paper's ( obviously no clue to how economy and innovation works)often confuse ideaology with fundamentals of economics and innovation theories. As BusinessWeek's Asia News Editor and China Bereau Chief, Roberts should update his China knowledge and let go of his ideaology glass. It's far better to bring Amrican readers with thoughtful writings than dismissing everything as hype.
Link to this comment
China Conglomerates Oct 23, 2009 1:22 AM GMT China is trying to emulate Korea, Japan in developing their own mega conglomerates, i.e. Samsung, Hyundai. They don't want to end up like Singapore with not a single home-grown company noteworthy enough to speak of and have to depend on the whims and fancies of foreign investors who come and go as they like.
Link to this comment
john Oct 23, 2009 12:24 AM GMT chinese lack innovations? i'm yawning! with pockets loaded with cashes they can buy innovations! american, please... don't be so egoistic about being innovative...most people who are working in your labs are foreign born. you are buying their talents. the chinese can do the same.
Paul Stewart Oct 22, 2009 11:46 PM GMT I find it funny to see the discounting of China. It is just a failure to understand success. This is what it must have sounded like in the British Empire during the rise of America, while the Empire was falling all around....
Link to this comment
CHINA WILL WIN Oct 22, 2009 11:13 PM GMT China will eventually win. The US is asleep at the wheel catering to china following the rules of free trade while china does not. Eventually the US will become a third rate nation.
Link to this comment
cjohnthan Oct 22, 2009 10:55 PM GMT >I support the governments effort to ensure China can compete in every industry across the globe. i feel so sad about this reality, usa as well as European countries, don't want to see china to be a democratic country, they see china gov as their manager cheap labor for them. on the other side, in china, there is a few privileged groups who only care to keep their privileges. yes they want to chinese ordinary people to earn reputation for them by devoting their lives to compete with foreign counterpart. actually, without a good, effective, functional governmental system, this country is and will always a bubble. to put it like that, without a monitoring scheme, every system will be as weak as a bubble in this era.
Link to this comment
Taishan Oct 22, 2009 10:34 PM GMT To Dexter Roberts (continued): significant government involvement up front. A company like COMAC, if it were required to raise its own capital, would need $30 billion from investors to build the factories and hire engineers to develop a totally new airplane. Investors, instead, would be tempted to play the market driving up the price of beer companies, tea shop chains, etc. They would not want to invest in an aerospace company that has no track record and unlikelihood of ever seeing a return on investment (on the first airplane, that is). I'm not suggesting central planning is something China should stay with indefinitely. But I am saying, for China to tap into the many industries that are monopolized by the developed world, China needs the government, pure and simple. The last thing I want to see is China become a nation of economic bubbles that ultimately do nothing more than compete with Mazatlan or Cancun, Mexico catering to foreign tourists. China needs to cut into every industry held by the developed world if it is to raise the standard of living of its population. And I support the governments effort to ensure China can compete in every industry across the globe.
Link to this comment
Taishan Oct 22, 2009 10:23 PM GMT To Dexter Roberts: Actually, I have confidence in the Chinese governments method of slow transition to private. Contrary to popular belief, not everything is made in China. There are many industries, such as you mentioned, aerospace, where China doesn't have a strong foot hold. And these industries, such as engine manufacturing, have sub-suppliers, that have huge profit margins unbeknownst to most people. Yet, the economy of scale of these Western or developed countries are so large, it would be difficult for a country like China to break into (even with their cheaper labor). Out there in the Western world, are jewels of industries that many wouldn't want the Chinese to tap into. In a world where profit is the driver on why people invest, it is tempting for people (Chinese included) to plow their money into the stock market, creating a bubble that ultimately don't produce anything (e.g., the US housing market), except a bubble. Government efforts, I firmly believe, is necessary for China's current stage of developent. I could be wrong, but I find it difficult to believe, that China's solely private enterprise could develop a commercially viable jet engine by 2020 without
Here's an interesting article underestimating China/Chinese ability to "innovate".
China's Economy: Behind All the Hype - BusinessWeek
But even more interesting are the comments, and most of them are NOT written by Chinese!
Steven Oct 23, 2009 5:46 AM GMT In many western reports: China has been collapsing for 60 years, China's financial system has been crapppy for 30 years. China's growth has been depending on US for 30 years. But the world economical crysis caused by US proved many things different.
Link to this comment
Richard Oct 23, 2009 5:41 AM GMT Who cares what these two little authors say about China? It is just the same China-bashing as before. The US is now going bankrupt.
Link to this comment
Shortsighted fools Oct 23, 2009 5:11 AM GMT It is simply astounding what China has accomplished in the last 30 years. No other country in history has been able to achieve what China achieved, and they did it with 1.3 Billion people!!! The US government could barely even get anything done anymore with only 300 million! England has all of 57 million and they are already way passed their expiration date. Only fools will continue to underestimate the will and might of the Chinese people!
Link to this comment
Black Cat Oct 23, 2009 4:37 AM GMT I am old enough to remember how "Made in Japan" signified cheap junk. Then the Japanese started producing automobiles and exporting them to America. Everybody knows how that turned out. China is currently in the economic stage where Japan was when it started exporting cars to America. It won't be long before we see innovative products based on Chinese research and development that astound the world. Developing countries have to learn to walk before they can run. It seems the authors of this article have not taken this into consideration.
Link to this comment
@Dexter Roberts and Pete Engardio Oct 23, 2009 4:30 AM GMT Don't speak too lowly of the Chinese because your computers might get hacked..both authors are insignificant little nobodies that should focus on the self destruction of America instead of disecting China's every faults. It's people like these authors that force China to cripple the U.S economy through cyber warfare. But these idiot authors can't figure out that the Chinese are better at hacking than Americans.
Link to this comment
DEATH to capitalism and christianity Oct 23, 2009 4:24 AM GMT I only read the first two lines of the article and I was already disgusted by the stupidity of the writers. Just watch China or dont. We Chinese will ALWAYS support our ancestral homeland no matter what idiots like these say about our beloved motherland. Ans....we will continue to watch the "western" countries stumble over themselves and laugh.
Link to this comment
passerby Oct 23, 2009 4:19 AM GMT A not so bad article I think. But even it holds many facts, it makes the same mistake as many previous analyses which underestimated the adaptability of China's economy. While the author complains about the unfriendly market for multinational companies, he tries hard to tell us that China is heavily dependent on the technologies of them. Seems the article was written by more than one writers but with a bad editor.
Link to this comment
Newbie Oct 23, 2009 4:10 AM GMT The authors use 'western' benchmarks and standards to make a judgement. While the article is about China, it applies to India as well. Hence if an Indian or a Chinese movie does not win Oscar, the verdict is it is not good. Who really cares about 'western' awards. If a person is not from Harvard she is no good (is what the authors are saying). Harvard is a business school of the past. It is no secret that China and India are poised to become the economies of the future. There is no way one can learn how to do business in these to countries by sitting in Harvard. The person has to be on ground. This is where Indian and Chinese b-schools will have an advantage. Who really cares whether somebody measures up to American standards. Large countries will establish their own standards, instead of following others'. Are we not glad that Toyota did NOT follow American auto manufacturing standards? Dexter and Pete have made a fool of themselves.
Link to this comment
American Counterfeit? Oct 23, 2009 3:27 AM GMT The fact that you use Nobels and Euro-league schools as a gauge of innovation shows how disconnected you are from reality. Innovation cannot be decreed from the commanding heights. Freedom to think and dream leads to innovation.
Link to this comment
cRXB Oct 23, 2009 3:23 AM GMT Here again, Another China-baSHING OR RIDICLING b.s.
hanyu choi Oct 23, 2009 2:59 AM GMT Harvard, Yale,Princeton, were not in the same league as Oxford,Cambridge in the 19th century. Hey Mao's Assasin, you have a very scary name. Is that your real name? Oh! I'm very scared.
Link to this comment
Mao's Assasin Oct 23, 2009 2:34 AM GMT Not a single world class college in America between 1901 and 1925? How many beers have you had? Lest we forget Harvard, Yale, Princeton, Brown etc...etc...etc.. Worship the Panda now, pay the bai mu later..
Link to this comment
hanyu choi Oct 23, 2009 2:23 AM GMT Between 1901 and 1925, there were only 2 American Nobel prize winners in sciences and none in medicine. During the same time period, there was not a single worid-class college in America. But America became the technological superoower in the 1930s, after more than 100 years copying European goods and later innovating on her own. Read the August 26, 2007 issue of THE BOSTON GLOBE. It will tell you how pitiful America was, when it came to innovation.
Link to this comment
America counterfeit? Oct 23, 2009 2:13 AM GMT Really? Maybe you should drink the Mao-aide. Let us see: Thomas Edison, counterfeiter? George Westinghouse, Counterfeiter? Here is an additional list for your reading pleasure: Category:American inventors - Wikipedia, the free encyclopedia
Link to this comment
hanyu choi Oct 23, 2009 1:47 AM GMT In 19th century,America was the counterfeit capital of the world.It copied many European inventions without regard to intellctual property rights.In the 1950s and the 60s Japan was the biggest copycat. You guys sound like sour grapes.
Link to this comment
James Oct 23, 2009 1:43 AM GMT It's really amazing how everytime there is an article about China people start talking nonsense. For all of the westerners and Chinese who are attacking each other's national pride and claiming China is going be invincible or they can only make toys and trinkets give yourself a reality check. China has HUGE potential and an equally HUGE set of problems to deal with. This is a very unsurprising reality. The interesting part will be watching how the problems are addressed and how much of the potential will be realized. Absolutes are nonsense.
Link to this comment
cup Oct 23, 2009 1:40 AM GMT Reading this paper by Roberts leads me to believe that it's not an accident that BusinessWeek is in the bankrupcy process or being bought out. The China Hype, as authors try to dismiss, has been growing in ~10% for over thirty years, this fact alone should make serious writers to pause for some critical thinking. In terms of economic development and innovation, writers like this paper's ( obviously no clue to how economy and innovation works)often confuse ideaology with fundamentals of economics and innovation theories. As BusinessWeek's Asia News Editor and China Bereau Chief, Roberts should update his China knowledge and let go of his ideaology glass. It's far better to bring Amrican readers with thoughtful writings than dismissing everything as hype.
Link to this comment
China Conglomerates Oct 23, 2009 1:22 AM GMT China is trying to emulate Korea, Japan in developing their own mega conglomerates, i.e. Samsung, Hyundai. They don't want to end up like Singapore with not a single home-grown company noteworthy enough to speak of and have to depend on the whims and fancies of foreign investors who come and go as they like.
Link to this comment
john Oct 23, 2009 12:24 AM GMT chinese lack innovations? i'm yawning! with pockets loaded with cashes they can buy innovations! american, please... don't be so egoistic about being innovative...most people who are working in your labs are foreign born. you are buying their talents. the chinese can do the same.
Paul Stewart Oct 22, 2009 11:46 PM GMT I find it funny to see the discounting of China. It is just a failure to understand success. This is what it must have sounded like in the British Empire during the rise of America, while the Empire was falling all around....
Link to this comment
CHINA WILL WIN Oct 22, 2009 11:13 PM GMT China will eventually win. The US is asleep at the wheel catering to china following the rules of free trade while china does not. Eventually the US will become a third rate nation.
Link to this comment
cjohnthan Oct 22, 2009 10:55 PM GMT >I support the governments effort to ensure China can compete in every industry across the globe. i feel so sad about this reality, usa as well as European countries, don't want to see china to be a democratic country, they see china gov as their manager cheap labor for them. on the other side, in china, there is a few privileged groups who only care to keep their privileges. yes they want to chinese ordinary people to earn reputation for them by devoting their lives to compete with foreign counterpart. actually, without a good, effective, functional governmental system, this country is and will always a bubble. to put it like that, without a monitoring scheme, every system will be as weak as a bubble in this era.
Link to this comment
Taishan Oct 22, 2009 10:34 PM GMT To Dexter Roberts (continued): significant government involvement up front. A company like COMAC, if it were required to raise its own capital, would need $30 billion from investors to build the factories and hire engineers to develop a totally new airplane. Investors, instead, would be tempted to play the market driving up the price of beer companies, tea shop chains, etc. They would not want to invest in an aerospace company that has no track record and unlikelihood of ever seeing a return on investment (on the first airplane, that is). I'm not suggesting central planning is something China should stay with indefinitely. But I am saying, for China to tap into the many industries that are monopolized by the developed world, China needs the government, pure and simple. The last thing I want to see is China become a nation of economic bubbles that ultimately do nothing more than compete with Mazatlan or Cancun, Mexico catering to foreign tourists. China needs to cut into every industry held by the developed world if it is to raise the standard of living of its population. And I support the governments effort to ensure China can compete in every industry across the globe.
Link to this comment
Taishan Oct 22, 2009 10:23 PM GMT To Dexter Roberts: Actually, I have confidence in the Chinese governments method of slow transition to private. Contrary to popular belief, not everything is made in China. There are many industries, such as you mentioned, aerospace, where China doesn't have a strong foot hold. And these industries, such as engine manufacturing, have sub-suppliers, that have huge profit margins unbeknownst to most people. Yet, the economy of scale of these Western or developed countries are so large, it would be difficult for a country like China to break into (even with their cheaper labor). Out there in the Western world, are jewels of industries that many wouldn't want the Chinese to tap into. In a world where profit is the driver on why people invest, it is tempting for people (Chinese included) to plow their money into the stock market, creating a bubble that ultimately don't produce anything (e.g., the US housing market), except a bubble. Government efforts, I firmly believe, is necessary for China's current stage of developent. I could be wrong, but I find it difficult to believe, that China's solely private enterprise could develop a commercially viable jet engine by 2020 without
