Replies to post #113617 on Biotech Values

[tinkershaw]

"Westerners reflect in a time of crisis. They learn a lot from that," said Hu Xingdou, an economist at the Beijing Institute of Technology. "And they sometimes exaggerate other people's success."

Moreover, he added, the very thing that Obama summoned Americans to do — revive the innovation spirit — is what's missing in the Chinese economy.

"Our system lacks creativity," Hu said. "The U.S. is a private sector. It will stimulate innovation. We may be temporarily ahead of America in the areas Obama mentioned, but to truly surpass the U.S., we have to reform our system."

This is from the L.A. Times. Straight from the Chinese perspective.

Been here, done that. We usually just make matters worse. Particularly this call for a "Sputnick moment" when it is the private sector, not public sector, that creates this innovation that China admits lacking and that we fear we lost. Perhaps because we are relying too much on the public sector at this pont in time.

Tinker

[XenaLives]

How about returning to an old way to grow - funding of new businesses through a legitimately run capital market?

Hedge funds and MM's commit fraud and receive slap-on-the-wrist fines. A real person would get sent to jail for years.