China Will Still Do Whatever It Takes to Catch Up – NextBigFuture.com
"Senior Scientist at the University of Wisconsin-Madison, Yi Fuxian makes the case that China’s nominal GDP will peak at 84% of the US GDP in 2033. He is the author of Big Country with an Empty Nest and claims that China’s aging population will not be able or willing to innovate. Nextbigfuture disagrees and believes that the will of China’s leadership and population to adopt innovation and to make whatever changes are needed to cities and business will not diminish. I do not see how the aging of the next few years affects China’s urbanization and the economic boost that will come from integrating into megacity regions."
This is a good place to start looking at the future of China. The Cultural Revolution and the Great Leap Forward destroyed Chinese individuality, entrepreneurship, and innovation. While those traits are slowly building in the Chinese people, the primary traits remain obedience, conformity, and an unwillingness to rock the boat. When we add to this the demographic problems facing China, it should become clear that the chance for the Chinese to become radical innovators who will find a way to build and expand a consumer-driven economy, which is independently creative and not driven by intellectual property theft is tiny. When the demographic bomb hits the conservative nature of the Chinese drive them to hunker down and do what they do best, cheat, lie, and steal intellectual property for their use.
I keep hearing that China can innovate, and is, but what I see is China is stealing IP then making minor changes around the edges. When it comes to serious innovation, I find Chinese subpar. The demographic bomb China faces will make innovation far more difficult when the Little Emperors who have been spoon fed their entire lives are forced to create or die.