China: Innovator or Thief?
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 1 September 2015
⏱️ 17 minutes
🧾️ Download transcript
Summary
China's latest factory data is the worst in 3 years. What's wrong with China's business model? Mark Anderson is CEO of InventIP, a consortium of US companies and experts who've put together a report, claiming that some 50% of Chinese growth in recent decades has been founded on the stealing of western business ideas, via old-fashioned industrial espionage and more sophisticated state-sponsored hacking. He exclusively tells the BBC the basis for his claims. And we also hear from Chinese author Edward Tse, who says the old stereotypes of Chinese companies leeching off western technology and possessing few ideas of their own is outdated. He's spent years advising Chinese companies, and in a new book, China's Disrupters, he claims a new genuinely entrepreneurial and innovative spirit has transformed the country's business climate.
Transcript
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| 0:00.0 | Hello there, I'm Ed Butler. |
| 0:05.8 | Welcome to Business Daily. |
| 0:07.2 | Coming up, more dismal industrial data for China today, more stock market falls. |
| 0:13.7 | One expert claims its economic frailty is based on a corrupt national business model based |
| 0:20.0 | on theft. Any country which pursues that path and builds a national business model based on theft. |
| 0:26.5 | Any country which pursues that path and builds a national business model based on fraud and theft will eventually become unstable. |
| 0:29.3 | But a Chinese expert disagrees. |
| 0:31.2 | He tells us Western analysts are blind to China's true entrepreneurial skill. |
| 0:36.3 | I think that's for the rest of the world to move on, |
| 0:38.3 | to really focus on the front end of the curve of companies and entrepreneurs, |
| 0:42.3 | who are truly becoming real innovative. |
| 0:45.3 | Some of the stuff that China is now doing innovation is just incredible. |
| 0:49.3 | Looking at China's two faces in Business Daily from the BBC. |
| 1:05.8 | So more glum industrial news from China over the weekend, factory activity down at its fastest pace in three years in the month of August. |
| 1:11.3 | The week data has added to global concerns that China's economy is rapidly losing steam. |
| 1:16.6 | It sent Asian shares falling once again today after what was, of course, the worst august for global stock markets since the height of the financial crisis. |
| 1:20.0 | Will September, though, offer brighter news. |
| 1:23.2 | I sought the view of Mike Amy. |
| 1:24.8 | He's managing director and portfolio manager at Pimco. Well, China |
| 1:28.7 | has been in a slowdown for a year or two and they've tried various measures to stop this |
| 1:34.0 | slide. They've been cutting interest rates. They've made it easy for the banking system to lend |
| 1:37.3 | money out. But so far it doesn't appear to be working. Yeah, a PMI. I mean, this is manufacturing, |
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