Niranjan Rajadhyaksha: “Scaling the smallest firms, even partially, could do more for aggregate job creation than any single large-firm policy.”
FT: “For its own sake and that of the rest of the world, China needs a new growth model. This requires some key shifts. First, it needs to reduce reliance on public investment and exports to drive growth. Second, it must resolve an unravelling property sector and find substitutes to generate output and wealth. Third, China has to move away from low-wage, low-productivity manufacturing to higher-productivity industries and the services sector. Fourth, it should lessen the role of the state in the economy.”
Devina Mehra: “This becomes the tricky part for any pioneer: how to build a new business without attracting too much competition and becoming a victim of one’s own success. Amazon, for instance, deliberately keeps pricing and margins extremely low in the new businesses it enters. For example, when it entered cloud computing, it did so at prices that did not appear to make economic sense. The reason? It did not want to make the business too attractive, and this strategy worked for quite a while. Of course, it had other businesses that could subsidize this game.”
NYTimes: “The United States is selling the best artificial intelligence models in the world. China is giving away the second-best for free.”
