Fairbank Roundtable: What's China's New Playbook?
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- čas přidán 9. 06. 2024
- In a recent Fairbank Roundtable conversation, Keyu Jin, Professor of Economics at London School of Economics, Harvard Professor of Economics David Yang, and Fairbank Center Graduate Student Associate Austin Jordan explored China’s capacity to meet and sustain the innovation demands of a contemporary political economy.
Professor Jin, author of The New China Playbook: Beyond Socialism and Capitalism, argued that China’s command of user data, innovation-driven business models, and “the most efficient supply chain in the world” enables domestic technology companies to iterate forcefully on technologies and leapfrog rival nations like the United States. Professor Yang added that the Chinese state remains integral in coordinating major innovation sectors and shifts in industrial policy. China “is a developing nation, but it also has the size of a superpower,” he said, and the country’s sophisticated manufacturing ecosystems enable business actors to quickly implement abstract innovation and business objectives.
However, Jin maintained that challenges remain: China’s current fiscal constraints limit its ability to subsidize electric vehicle (EV) innovation, and trade friction with international actors like the U.S. and EU will hamper China’s ability to penetrate international markets despite globally competitive products. As such, Jin argued that China must make its current “high growth, high cost” model more efficient and create domestic talent pipelines and intrinsic motivation to match.
China’s growth, meanwhile, is calling on international decisionmakers like the WTO, IMF, and World Bank to rethink whether their representation reflects the shifting global distribution of power. Yang concluded that - despite popular impressions that politics dominate Chinese decision-making - economics remains the driving force of domestic incentives. Fierce global competition will encourage national governments to promote domestic innovation and expedite the pace of global technological development. “That might come out as a net benefit for the world in a few decades,” he said.
About innovation-
Innovation happens under two conditions
(1) necessity
(2) the leisure to pursuit finer things in life when basic needs are no longer a concern.
Americans seem to imagine themselves as born innovators.
In fact, President Lincoln endorsed the theft of British know how in texture.
Before WWII, the center of science was in Europe.
90% of the scientists that participated in the Manhattan project were foreigners , not Americans. They hailed from places with different political systems such as Russia, Italy…
If we go back to more ancient history innovations happened in affluent monarchies.
My point?
Democracy is NOT a necessary condition for innovation. Affluence is.
Nonsense. The human desire for status and progress is the driving force of innovation. Little to do with affluence.
Yeah totally agree with ur point, even back in ancient times, only affluent people could think about philosophy
I've come to see China as a cult of efficiency. Working toward a technocracy.
5 years at a time there internal polarization that is everywhere in the world. That polarization between the wealth and the working class is on a trajectory I think China understands very well.
My heartfelt belief is there pulling us all up and have that as an end goal for the Great Rejuvenation of the Chinese nation.
The interviewer seemed to have made the claim that China has VIOLATED
WTO rules, as an article of faith.
I wonder if he could back the claims up with some real life examples.
Biggest lesson is never ever trust the USA
But the CCP is always honest, rite? (Isn't there some sickness going around thats killed millions AND devasted peoples finances?)
You're right. China should never have cooperated with the US but should have just bet on homegrown innovation. Maybe it was even a bad idea to leave the Maoist path. With the right mindset and a strict isolationist policy they would have outinnovated the US already by the year 2000. **sarcasm off**
@@aaron.aaron.v.b.9448nice! I almost thought you were serious, I’ll bet some Chinese believe this.
@@gstlb In the end this moralism is pretty dishonest. American cooperation with China started during the Cold War due to both countries having a common enemy, not due to lofty ideals. And even later cooperation, like admitting China into the WTO, was not meant to be a step on the road for Chinese dominance. This is just not the kind of promise the US ever gave to China.
@@greg5023 Not a very productive way to frame the issue. Even I, who strongly supports the protection of Taiwan's democracy and a pushback against jingoistic dreams of Chinese dominance, feels offended, if it is framed this way. This conflict should never be about which "super-power" prevails, but about nudging China to return to a smart course of cooperation that might include dominance in certain sectors within a framework of international specialisation instead of foolishly attempting to achieve broad band dominance to the detriment of everybody.
I wonder if the US has taken note of the sheer number of Chinese/Russian/Iranian/et al researchers names that appear on the AI papers that are produced from inside US Universities and Research establishments, the intellectual property may be owned by these Institutions but the intellectual expertise resides within these other nationalities, hence whenever these ones feel uncertain of their own futures they will gravitate back to their homelands and take their enormous potential with them.
Also don't forget Indian
Well provide the sheer number of these people fleeing back to these authoritarian countires? Maybe, for China in the past, but now...or even Russian and Iran, please don't make me laugh.
Yes. CIA must arrest them
As they are doing already. Helped along by University witch hunts based on ethnicity. The reds are back under the beds and spying on us (or so the new narrative goes) lol.
คิดถึงเธอเหมือนกัน keyu jin
I enjoyed the discussion very much. But, please get rid of the plastic water bottles!
Amazing, tks much!
The US congressman: "China stole the US 5G technology ". Chinese answered: " we cannot steal the technology you haven't come out with yet".
What US congressman said that quote? China did steal 5g technology from Nortel, but i guess thanks for your ccp talking point and letting us know that you simp for them.
Absolute bullshit! Idiot .@@GoGoPooerRangers!
Yup. China stole everything. Nothing to worry about since they won't be able to innovate.
The US is trying to invalidate HuaWei’s 5g patents in America.
Who is the biggest thief?
They still believed in Politicians 😂😊😅There's No Smart Politicians(But CORRUPTED)in😮 America........But Only Stupid Scientist/Advisors who followed them...😢😢😢
Keyu Lin ❤❤❤❤
The CPC is unique, it self corrects itself when it makes mistakes, it's not rigid in it's economic model
Lol
correcting itself after 30 years certainly does not mean rigidness
@@temptemp3016 How many countries have been behaving the same way for centuries. How long did it take to abolish slavery, colonialism, apartheid etc.
@@MattsFikezolo-lo7wq I dont disagree with you. continuing the communist experiment for 30 years and wasting a whole generation before taking the strident turn certainly does not mean rigidness. LOL
Yes, hence their stagnating economy rn. LOL
The state is always heavily involved in economic development, even before the Industrial Revolution. All those European countries sent armies overseas to grab colonies. Exploitation of those colonies economically benefited the European countries, by providing raw materials and consumer goods (tea, coffee, sugar, cocoa) at low costs and captured markets.
The US is probably the country with the least amount of government assistance to industries. But the US still had its own examples of government programs. The biggest case of American industrial policy was the interstate highway system. It favored steel, construction, automobiles, oil industries, at the expense of railroads. Semiconductors also benefited greatly from government efforts. In the late 1980s, Japanese dominated the semiconductor industry. The US government organized SemaTech. All significant American semiconductor companies were invited to join and pooled their technical resources.
Finally, several East Asian countries made the transition from agricultural society to industrial society. All of them used top down government direction.
The idea that the government needs to just stay out of the economy is just ideology.
Great comprehensive discussion, even though questions could have been improved with better background understanding of history, sectors, industrial policies implementation processes.
Very nice discussion!!
7:13 stand on the shoulder of a giant and try hard to stump the giant into the ground 😂😂
Yep!
Worked so far!
Keyu Jin has stayed in the west for too long. It’s getting on to her. The western narrative, I mean. The way she thinks. 7:55 Why is that “mind boggling and disturbing also”? Isn’t this is what competition for?
And about reverse engineering. Why not. Why reinvent the wheel? As if Americans or Japanese or Korean don’t do that. It’s a way to learn from other’s successes as long as it’s legal. Don’t be naive. Why do you think the Allied Army went searching for the German rocket scientists and Japanese biowarfare scientists in WWII.
She's just trying to reach a western audience, she needs to be diplomatic
Don’t worry she is still a CCP mouthpiece. Reverse engineering is a propaganda word for IP theft.
She's born in Beijing and her father was China's Vice-minister of economics. I think now is the Chairman of AIIB. She's destined for high places in the Chinese government if the west decides to foolishly chase her out. So I dun think the western narrative will get into her.
Well ! As you all can easily conceive right now the conflicts in the middle east may distrupt the world's economic ecosystem as well as supply chain could be abrupt in any moment & that shall cause the prices to sky rocket all over the globes. A new more stable or save routes could just simply not far from any possibility.
This is when the Chinese innovation in connectivity on land ( silk roads ) could play important key roles in ensuring continuity in supply chains to some extend.
This land connectivity by train could florish & the developments of those seclude & neglected regions could find a new life in a much speedy manners. This regions would benefit most in a big way & there is no doubts about that so long as the conflicts in the middle east persists.
The innovation on land connectivity shall observe a robust development in the coming future as when middle east continue to muddle in conflicts . A new supply chain by land shall then be an imperative in supplement to the uncertain oceans routes. Besides, another form of connectivity creations or innovations may just find feasible is connectivity by water ways/ canals. All these entail that land connectivity would only be more important in future.
AI connectivity too will florish as much as commerce , trades, relationships, etc.
For better world
There's really no so called "Playbook", old or new, in Chinese Political Philosophy. The 'Central Philosophy' has always been 「大同」思維 (vs 「零和」思維), which is also clearly and vividly expressed in Republic China's (Taiwan) national anthem. This Political Philosophy has always been at the center and also the unifying force of China over the ages, under imperial and republic rules. Anyone who read Chinese history should know that. Note: Interpretation of this philosophy varies. Some in the West see it as 'Chinese Hegemony', thus a threat. Others see it as a progressive and harmonious force of the future of humans on Earth.
Do you think keyujin could provide any neutral idea?
That requires a neutral ear…
@@diddywongye8355 Your mean self-censorship? the majority of CZcams audience don't possess this kind of skill.
propaganda in glamorous disguise
Keyu speaks the absolute truth.
She is a second class lying spy, like others on this channel.
Ask her what happened to entrepreneurs Like Jack Na, Pan Shiyi?
They are still very rich and being extremely well, thank you for your concern. ☺️ hope you can learn some other people’s name, like Meng wanzhou? LOL
have you read prospectus for ant deal. frightening.
too earlier to brag about EV yet. It is that other people cannot produce EV, or it is that it is costly for others to produce EV? So that the EV firms can just not making profit while pouring all the product across the world?
Other countries outside China are unable to produce good quality EVs except for Tesla
The Chinese are doing what they do best move fast to produce cheaper lower quality products. As foreign models get lower cost and better quality no one will want or buy the Chinese EVs. The Chinese EV sector is exploding for the past two years already.
两个维护。。
Unsurprisingly not one word about "unity in conflict".
David’s ideas are also very interesting but unfortunately he talks too fast and forgets commas and periods, so sometimes unintelligible.
David talks like a 35 year old Elon Musk
The new playbook racing to see who hits bottom first? No…we still emerging country. Keep WTO subsidies going.
看到视频和评论区，西方制度下的人都这么自大，我就放心了。
🤣🤣🤣
没有吧，我觉得挺中肯的
It is striking how talkers describes China's development as specific or perhaps to be a model, but fail to simply parallel it to developments in Japan, South Korea, Taiwan. They all went this road before China. Surely there are lessons to draw from a comparison with those cases.
Did you just write every asian places that you know?🤣 everyone is just the same for you, isn’t it?
And where would you place India, Thailand, Malaysia, Indonesia, Cambodia, Laos, Philippines, just to mention big ones? Very funny how some sarcastic comments betray one's bias@@diddywongye8355
hint, they may not be experts in how Japan, South Korea, and Taiwan developed. 💡
@@dyrectory_com Therefore they are not competent to describe China’s development as specific, and even less as a model. They can only testify it’s experience, without generalisation
Comparison gives context. Good point.
Standard of discussion is simplistic if not laughable given this is Harvard... hardly a positive ad.
At 2x speed, the person on the right sounds like Zuckerberg from the social network
blame Bill clinton. you know why.
they have no playbook
You have no brain.
David，能不能把你的头发/发型打理一下？坐姿也注意一下？😒
头发和坐姿有问题？
The great minds talking about the politics is so different than that of the real politicians 😅
great minds? It's just people trying to sell their books wihle having a circle jerk about China.
Right on! "Small yard and high fence" is a joke, underestimating the Chinese capability at a time when the US is in economic and political chaos. The boomerang can be serious. Will Sullivan and Raimando be accountable for the consequence? Even if they do, they simply lose their jobs. But their names will go down history. I for one will never forget. 😮
USA will become frog in a well
China isn't trying to export authoritarianism or empower kleptocracy. Its agnostic and indifferent as to the strategic political implications of its trade and investment policies. As long as the losns get paid in full and on time they don't care. If they don't，they still don't care. Its non ideological mercantilism based on export substitution industrialization.
*cough cough*
Unfortunately, no arrogant dictatorship can escape the international financial trilemma, the Phillips curve, and Okun's law. Therein lies the dilemma for the Chinese Communist Party.
K……
I know that America certainly will not escape them.
TIKTOK IS THE MOST POWERFUL MODEL THEY HAVE
It is not a round table, people basically have the same idea. Also, I do not hear anything about new play book. All about China is doing all the right thing such as re-engineering.
the table is in fact round
She is still defending the CCP. OMG. Wake up!
"Circumvent"
You know,
Steal.
NYC publishers (Dickens wasn't paid)? Hollywood IP dodgers? Hamburg ship builders? Which thieves are you referring to?
You steal all the Scientist in 1950.....remember!!!!!
This was definitely not a roundtable conducive to debate; it resembled more of a gathering with Xi surrounded by a group of sycophants. But don't forget about selling those books. 🙃
If China is not interested in pushing a political agenda, please explain Hong Kong since 1997.
They're not interested in pushing a political model onto other countries. Hong Kong is a part of China, not an independent territory. It's basic sovereignity.
The reason China has fallen so far behind the US in terms of innovation and entrepreneurial flair is because they have not created the environment where innovation can thrive. They are corrupt, short term focused, they don’t allow their successful entrepreneurs to feel safe, they don’t allow their financial capital to be deployed effectively. The Chinese model worked well in term of digging holes and building widgets. In terms of AI for example it has already lost the war and they know it.
The take down of the best in class tech companies in China in recent years is the PERFECT example demonstrating the enormous dysfunction in China. Xi destroyed an entire generation of entrepreneurial talent and appetite for risk when he did that.
That’s why Xi went to san fran…to humble himself and say that China’s goal is not to challenge the US. To beg Biden to not punish them any more via economics sanctions or tariffs.
😮😊😅There's No Smart Politicians(But CORRUPTED)in America........But Only Stupid Scientist/Advisors who followed them...😢😢😢
keyu Jin obviously already lacks in-depth understanding of the situation in China today, so she cannot give more in-depth analysis. As an economist, one must go to the front line and the bottom of the economic world to understand some objective facts before one can make a study in line with the objective facts. This is not her fault, in fact too many economists are just refined aristocrats in ivory towers.
Her Experience in IMF/World Bank also Advisors to China Commerce Department Before....
Did she say, "High Quality" around 8;30. LOL, are you kidding me? The CCP cant even make a phillips screw that doesn't strip out. How much is he payin you, Lady?
How much you got paid? 😂
it all depends on how much you are paying for the made in China product, the iphone works fine and those new tesla ev are not bad.
Wow... sorry for your knowledge about China😢
cope harder bro. China makes the best products in the world.
There is no Chinese model but autocratic capitalism. Nothing there is worth being proud of but underrated resources, including human resources and natural resources.
😮😊😅There's No Smart Politicians(But CORRUPTED)in America........But Only Stupid Scientist/Advisors who followed them...😢😢😢
Maoist propaganda.
Limousine Maoists at racist Harvard.
Guarding CCP failed economy policy fervently but this is a lost cause Ms professor
😮😊😅There's No Smart Politicians(But CORRUPTED)in America........But Only Stupid Scientist/Advisors who followed them...😢😢😢
Jin's father: en.wikipedia.org/wiki/Jin_Liqun
So, how is it relevant here? Eitherway seems like her father is a smart, respected and accouplished person 😊
Every girl dreams of being a princess 红女王子， 对吗？
Fox？
Henhouse!
Hens?
Hens? Hey! Where did my hens go?
She is one of few economist who can speak for the Chinese people/gov. So be respect.
@@allenliu107 对于小偷没人遵守
8:50 s/reverse engineering/steal/g
Yes so what? I'm Indian, I think India should does the same too. It's pointless to reinvent the wheel for each country. If Western developed countries are getting advantage of cheap labour from the developing countries, we should get technology transfer in return! Otherwise we will still lag behind forever!
that;s what usa is left with now .
All western wealth and technology was stolen by colonialist looting and braindrain.
America Steal Scientist/Talents from All over Earth in Until NOW REMEMBER...Because you are not Smart.....but Alex....