random wrote on Jan 28^th, 2016 at 7:29am:


Don't be naive, there are ghost towns but not everywhere. When you have 1.4b people need to upgrade living conditions in a decade, massive construction is expected.

China produced 0.9b ton raw steel and more than 1b m2 properties last year. Even 1% of these are enough to build hundreds of ghost towns in Austrlia scale. So you need to understand the size of it first.

Corruption is catalyst in Chinese economy, it forms anti-centralization political power, i.e. anti- dictatorship power. Overall, people benefits from it if comparing to pure communist beaurocratic central controlled economy.

Look no further then the western consumer.
If he did not feel the need to feed his ego by filling his house with "stuff"  , this would never happen.

When the consumer is willing to admit that it is HIS / HER fault, this nonsense will cease.

The Ivory trade is barbaric.  Is it totally the fault of the poachers?
Do not the moronic consumers who pay for ivory to fill their own , low-conscious ego's, also bear some of the blame.


Do you own an iphone, wear chinese made clothing, use chinese electronics, benefit from the economic boom selling coal and iron ore to china which pays for australian welfare, hospitals and schools.


Lets try and get the consumer to use some mindfulness please and share in the guilt

Keep saying that Chinese cheap labours take away your jobs would not help you any little bit.

Your short sight politicians from entire western world accepted the evil Chinese gov to utilize slave workers there to manufacture cheap things to fill their voters houses and also use black money to there to fund their election. It's so called democracy and moral.

Now little evil started to grow to a giant monster, started to be out of control now, it's already too late. Just sit tight and watch the show now.

Our politicians are paid less than your typical CEO. If they were paid more, we might get more competent ones.

Product innovation: incremental to radical

China has produced relatively few product innovations that are truly new to the world. But based on extensive experience with incremental innovations, Chinese companies are moving from incremental toward radical innovations.  Huawei is an example. It is starting to make radical innovations with its distributed base stations and its SingleRAN based LTE solution for mobile operators. Sanyi Heavy Industry Company, another example, produces the world’s most powerful crawler crane.

Technological innovation: China’s dream

China has yet to produce high-impact technology innovations with global significance. But we have seen examples of minor but world class technology being implemented to create innovations. We visited SVG Optronics, a start-up company that uses nanotechnology to create very thin films that provide hologram patterns that can be printed onto such things such as identity cards, and are very difficult to copy. As a result of this film, the Chinese identity card is now actually more secure than drivers’ licenses in Europe or the United States . Another company, Suzhou Nano-Micro BioTech, produces very, very small particles which are of uniform size and shape and tailored to the customer’s specific needs. There is a very high degree of precision in particle size and shape, which is very important for certain sophisticated applications ranging from LCD displays to high efficiency LEDs.

Business model innovation: often copied and adapted

In China, most business model innovation has started by taking a Western model, adapting it to China, then further innovating the adaptation.  Although Alibaba.com, for example, copied the eBay platform with its competing service Taobao, it quickly overtook eBay, based on its earlier B2B platform experience and innovations to suit the Chinese customer. Tencent, China’s largest Internet portal, experimented with multiple business models in order to monetize its products and it now generates most of its revenues through Internet value-added services. Like some foreign companies, such as Apple or Google, Tencent has created an ecosystem of service offerings centered on its QQ instant messaging service. For its instant messenger service QQ, Tencent did not copy global leader ICQ’s unprofitable business mode.  Instead, Tencent created a new business model that was the first to include advertising and that includes an ecosystem where it can monetize all the value-added services surrounding the free QQ instant messenger application.

Non-customer innovation: huge opportunity

Non-customer innovation occurs when a business is able to serve a customer segment not previously served in this category elsewhere in the world or in a particular country. An example is the Tata Nano car, designed at such a low price point as to serve first time auto buyers, who had previously used motorcycles or other modes. An even better example is Apple’s iPad, whose simplicity drew in many older users who had previously been unable to use more complex personal computers. China’s modern, market economy is so new that there are many non-customers to be tapped in almost every category. For example, in banking many small enterprises still have no bank accounts. Minsheng Bank succeeded in capturing small-sized companies’ business as a first mover to create a new segment.

Chinese companies are adept at exploiting all of these forms of innovation, due to their relentless focus on customers, their search for unmet needs, and remarkable speed.  Competitors need to look well beyond technological innovation if they are to succeed in China.

China is positioning itself to achieve technological, scientific an product application innovation. China already leads in LED technology and products and is reputed to have powerful technology in lasers.

Countries like Australia will be left wallowing in China's wake as its innovation accelerates.

Sir lastnail wrote on Jan 29^th, 2016 at 11:30am:


That's why its called the lucky country and its denizens  are called punters.