“China's economy became more complex. By now there is a large number of small- and medium-sized companies that work quite differently from big, state-owned enterprises. They don't follow any long-term business plan and don't rent office space for years to come. They start out and need an office right away, for a week, a month or half a year, and they want to be among other entrepreneurs like themselves.” WantNeedsYearsLongStatesBigsTermSpaceNumbersHalfCompanyEconomyPlansWeekMonthsOfficeEntrepreneurComplexesChinaMediumsLong TermEnterpriseLarge NumbersBusiness PlanHalf A YearOffice Space Author:Zhang Xin
“China has consistently surprised us. When I returned from the United States many years ago, it was unimaginable that we would end up where we are now. What China has achieved defies all logic. I credit this to the hard work and enterprising spirit of the Chinese people.” PeopleYearsEndsHardStatesSpiritUnitedUnited StatesHard WorkYears AgoLogicChinaCreditChineseConsistentlyUnimaginableEnterprising Author:Zhang Xin
“But it is a worry that there have been so many delays in the reform of China's state-owned enterprises. We all know that private companies are run more efficiently than state ones. These reforms are very much anticipated for the potential dynamism they could create.” KnowsHas BeensStatesRunningCompanyWorryChinaReformEnterpriseDelayDynamism Author:Zhang Xin
“China reformed its state sector before, in the late 1990s. Tens of millions were laid off at the time. That was scary and we had warnings of social unrest. But it did not happen. Instead, there was a restructuring in our economic system. I am not sure if China will follow a Western playbook in this respect.” IfsStatesHappensSocialMillionsEconomicLateWesternScaryChinaNot SureWarningEconomic SystemsUnrestRestructuringPlaybooksLaid OffSocial Unrest Author:Zhang Xin
“I used to ask myself why American universities are financed through endowments. Now I know: During the early days of America, the state was poor and when citizens wanted to set something up, they needed to collect money themselves. Historically, this was different in Europe. There used to be a strong state, a monarch or a king. He provided money.” KnowsDifferentStatesWantedAmericaUsedAsksStrongPoorKingsNeededCitizensEuropeUniversityUsed To BeMonarchsEndowmentAmerican Universities Author:Zhang Xin
