Could someone please list the top 10 technological innovations that originated in China?
China Is Nationalizing Its Tech Sector
21–30 of 228 posts
Re: China Is Nationalizing Its Tech Sector
#22Earlier quoted context omitted.
Central planning has always proven to be an inefficient way to allocate resources, so I’m not sure why free markets would be worried about China implementing more central planning.
> Central planning has always proven to be an inefficient way to allocate resources Amazon seems pretty efficient. ;)
I think you don’t know what central planning means. It refers to a centrally planned economy, which has many problems to overcome that a single entity like Amazon doesn’t.
Once a company gets large enough, some of it’s inefficiencies can be caused by similar issues that centrally planned economies face, however the two are very different. Amazon still has to contend with market forces, and its resource allocation decisions have to be mostly aligned with that. In a centrally planned economy, resource allocation only has to align with the central plan.
Amazon also doesn’t have anything even close to the same supply chain complexity of an economy. I’d suggest you read ‘I, Pencil’, which convincingly asserts that not a single person knows how to make a pencil.
China’s tech boom largely comes from entrepreneurs innovating in a market that is in many ways under-regulated, which has been a very efficient environment for those entrepreneurs to operate in. If the communist party wants to take more control of that industry, it’s hard to see how it’s going to do that without impacting efficiency.
Re: China Is Nationalizing Its Tech Sector
#23Earlier quoted context omitted.
Central planning has always proven to be an inefficient way to allocate resources, so I’m not sure why free markets would be worried about China implementing more central planning.
> Central planning has always proven to be an inefficient way to allocate resources Amazon seems pretty efficient. ;)
Hmmmmm.
I've often wondered about the contradiction wherein it's argued that the economy thrives on competition and yet corporations larger than many nation states never apply the same model internally.
(I'm aware there are efforts in some companies at creating "internal markets" but never close to the scale of market forces that exist externally to the company)
Re: China Is Nationalizing Its Tech Sector
#24Comparison Baidu - Google Baidu is horrid, even in Chinese. Baidu doesn't have nearly as big stronghold on advertising in Chinese market as Google has in every market outside of China. End of discussion. Alibaba - Amazon On commercial side, Alibaba steamrolls Amazon with some margin remaining. Tech-wise, Alibaba sucks big time. Their search algo is something horrid. Alibaba has a relatively big part of Internet ads p…
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Re: China Is Nationalizing Its Tech Sector
#25Earlier quoted context omitted.
Let's not forget that that previous grand experiment certainly did not look like a failure for 20-30, some say 50 years. Even after that there was a never-ending chorus of people proclaiming it's success. And yes, that was because they were of a particular political bent, but still ... Some still haven't gone silent. Unless of course, you were one of it's subjects living within it's borders. Then there was no doubt.…
But they didn't have the technology. Maybe with help of good IT, this is manageable better?
>Maybe with help of good IT, this is manageable better?
USSR's math and science was on the global forefront during upswing years. I dare anybody to deny that. Soviet cybernetics was just few steps away from Norbert Wiener's school, up until the point Khrushev decided to put a lid on it. USSR was the only country to apply real hardcore math to economic modelling and planning. Yet, no mathematical model survived its first encounter with an average soviet bureaucrat.
Re: China Is Nationalizing Its Tech Sector
#26It's interesting to observe how China has managed to fuse together, almost seamlessly, the major functional modules of it's government -- Communist Party committees, for example -- with the tech sector. As other commentators in various publications have pointed out, this deep integration coupled with massive investments in auxiliary sectors, a culture of scientific inquiry and a heavily STEM focused primary education…
Seems like premature celebration. The Soviet Union was incredibly successful (turning a backwater into a superpower in a few decades) until it wasn’t.
Corruption and incompetence eventually takes over. The Brezhnev era is sort of illustrative.
Re: China Is Nationalizing Its Tech Sector
#27And thus the brain drain from China will commence at full speed (more than present). Seems government regulators in China don't understand market forces either. Good to know.
Central planning has always proven to be an inefficient way to allocate resources, so I’m not sure why free markets would be worried about China implementing more central planning.
*Regulated free markets.
Unregulated free markets could prove to be at a disadvantage. We shouldn’t be engaged in free trade with China. Countries or robber barons of those countries shouldn’t be allowed to destroy their environment to have a cheaper price.
Re: China Is Nationalizing Its Tech Sector
#28A picture is worth a thousand words. The sculpture outside the front of Tencents Shenzhen HQ. https://pbs.twimg.com/media/DXRIsWrVQAAJgjl.jpg
Haha
Re: China Is Nationalizing Its Tech Sector
#29Earlier quoted context omitted.
Let's not forget that that previous grand experiment certainly did not look like a failure for 20-30, some say 50 years. Even after that there was a never-ending chorus of people proclaiming it's success. And yes, that was because they were of a particular political bent, but still ... Some still haven't gone silent. Unless of course, you were one of it's subjects living within it's borders. Then there was no doubt.…
But they didn't have the technology. Maybe with help of good IT, this is manageable better?
Communism didn't fail for lack of top-down control. It failed because of too much top-down control (to oversimplify to the extreme).
Re: China Is Nationalizing Its Tech Sector
#30A picture is worth a thousand words. The sculpture outside the front of Tencents Shenzhen HQ. https://pbs.twimg.com/media/DXRIsWrVQAAJgjl.jpg
Technology is the boot on the human face forever.