If there is one thing that comes to mind when thinking about Chinese business acumen it is that Chinese are very competititve. If one guys develops a new kind of hula hoop there are zillions who immediately want to get into the craze. And that is good for the consumer. The one who came up with the idea has a first-mover advantage but cannot protect his patch ad-infinitum and enjoy what is basically a rent. Contrast this with the USA and most 'Western' economies. Microsoft, Google, Appla, the world of sports and entertainment are protected by massive moats that gullible politicians influenced by their huge lobbies erected. The consumer, the 99%, basically pay their inflated profits and paychecks. Just fortunate that no one thought of giving a patent to whoever opened the first supermarket!
Military-Industrial Complex: Crocodile tears about China
Churchill, Keynes, and the General Strike at 100
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When Winston Churchill was named Chancellor in November 1924, he is said to
have assumed it was the largely ceremonial post of Chancellor of the Duchy
of...
1 day ago