Nevertheless, by exercising superior entrepreneurship the smaller companies eventually triumphed. This is something we Chinese are famous for. This is our talent. It is inexhaustible, costless and yet priceless. By giving favours to established businesses in the misguided belief that it is size that matters, that small is an insurmountable obstacle to growth is to misconstrue the nature of economic growth and fall into the economic errors that now rack South Korea.
Shanghai is the last place on Earth that needs economic guidance.
It is a city with an endless supply of entrepreneurial talent. China will get all the big companies it can be proud of. And they will be companies that have earned their positions and pay their way. Reprinted with the kind permission of The New Australian. All rights reserved.