Be afraid: China is on the path to global technology dominance


#1

I have often jested that the main difference between the United States and China is not that one is capitalist and the other communist. Rather, it is that one is run by lawyers and the other by engineers.

Nowhere is this truer than in the astonishing “catch-up” occurring on the mainland in the explosion of digital technologies and their application to the daily lives of hundreds of millions of ordinary Chinese consumers.


#2

Yeah, I am really, really worried…


#3

Good. Let them dominate. More techies will be coming over to buy homes in the Bay Area. Which means home values will go up up and up! :slight_smile:


#4

Don’t let these news get to Twhitler, he will start the roundup…specially of those licking the Chinese boots…which means he would be the first one…:stuck_out_tongue:


#5

Heard that techies coming over have trickled to a very small number. This reverse brain drain started about ten years ago. Chinese buying RE here are mostly for their children studying here or opportunistic RE investors. So doubt more techies would come here, may be the opposite happen, Americans would go there, some already did.


#6

I agree…But some of the worst leaders in history were engineers…Hubert Hoover, Jimmy Carter, Yasser Arafat, bin Laden


#7

Manch and Hanera, stop spreading fear out of baseless assumptions! This is not a zero sum game. Wealth generated on one side will inevitably have a spill over effect on the other. Without copying western know how, China might still be stuck in the Middle Ages. Similarly, the west can also learn and benefit from China one of these days if it manages to transform into a technical powerhouse. This is how societies progress.


#8

Don’t even understand what you are talking about :slight_smile: You specifically say techies and now want to generalize to everybody? Change premise? Also, why talk about copying? Totally not relevant to original topic.


#9

China is a huge opportunity. I see myself as a mini-Buffett. OK, mini is too big… nano-Buffett. I allocate capital globally. If China’s doing well I will put more of my capital there.

The last 100 years have been great for America. People who bought S&P anytime in the last 100 years and held on, they did extremely well. But I think it’s just a happy accident. It coincided with the rise of America as the world’s only superpower. If they bought FTSE or Nikkei return wouldn’t be nearly as good.

Will the next 100 years be the same? Will America continue to dominate? I am not so sure. Need to keep eyes open for opportunities.


#10

Then buy Chinese stocks! Personally I have purchased bidu and baba. Both Chinese tech stocks. I also purchased the index fund based on Shanghai’s index. Only thing I would have loved to do is to purchase Chinese real estate but that is beyond my scope for now.


#11

Ahhh…glad to know you guys are using index. Smart people know that in the last 20-30 years, whether you like it or not, it has given at least 8%. Of course, in my area of expertise, tax free.


#12

I suppose we here now have to also worry about fake news (but it wasn’t an issue before you know who…)


#13

In the aftermath of Trump’s election, there was this famous moment where Xi Jinping comes and gives a speech at Davos. I was in the audience. The conventional thing to say afterwards was, “Isn’t it amazing: China’s now the defender of the globalized order that America has turned against.” But it’s not that surprising because China is the world’s biggest manufacturer. It’s the world’s biggest exporter. Of course it would defend the current system. I remember talking to an EU official afterward and he said, “When Britain was the dominant economy it was the promoter of free trade. When America was the dominant economy it was the promoter of free trade. Now China’s the promoter of free trade, and you can feel the wheels of history turning.”


#14

So the wheel of history turned and Britain lost to America as the top dog. But is Britain today such a horrible place to live?

Don’t worry, be happy. :slight_smile:


#15

Are you suggesting that in a few decades, America would be as horrible as Britain, and China would be the ideal place to live and work?


#16

Hanera! Really???


#17

Time for you to return to your source.


#18

You should talk to people who have lived in England. Only the rich own their homes. Most people live in government owned and furnished housing. Yup, the government provides the furniture. You get a new couch when they say it’s time to replace it. Oh, their “free” healthcare mostly sucks too.


#19

Haha, you should tell Manch that. You are preaching to the wrong person.


#20

Britain has pretty good living standards. It’s better than living in Bayview or East Palo Alto, I’m sure.