Thinks 509

The Economist: “Mr Xi’s strategy is best understood as a weighty bet that China is on track to become the world’s centre of innovation over the next decade. A shift towards homegrown tech is altering the geographical layout of China’s manufacturing machine. New investment and migration are being rerouted from rich coastal hubs to inland cities such as Zhuzhou. A second feature is an unprecedented rise in the number of new tech companies. The government is nurturing thousands of groups, big and small, in the fields of data science, network security and robotics. Mr Xi and his advisers are also taking firmer control over markets. Their ability to direct capital flows is already evident in how private-equity groups invest in China…Mr Xi is building an incubator state: an economy that relies heavily on government nourishment to create productivity gains with domestic research and technology. In doing so he is also signalling a premature break with the technological convergence that has served China well since the 1980s.”

Matthew Hennessey: “If a society can bear to hear the unmistakable sound of what the mid-20th-century Austrian economist Joseph Schumpeter called the “perennial gale of creative destruction,” then it can be pretty sure its markets are working as intended.” [via CafeHayek] Donald Boudreaxu: “Markets aren’t set into operation by anyone’s design or intent, so strictly speaking there is no intention – no purpose – that markets can be said to fulfill or to disappoint. But because what most people want from markets is the provision of high and rising standards of living for ordinary people, when and insofar as markets make such a provision, markets are operating as we ‘want’ them to operate.”

Shane Parish: “Today, not tomorrow. What you avoid today is harder to do tomorrow. Today’s choices become tomorrow’s position. If you put off things today, they don’t magically disappear tomorrow. They just get added to the list of things you want to do. Don’t wait till tomorrow. Tomorrow is where dreams go to die.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.