Young Guo, IDG Technology Venture Investment
He started by defending the Chinese practice of building “science parks.” He said that developers are simply looking for a theme. They call them “science parks” to get funded/approved but then sell typical business or residential units. People are driven by money and power…just like in the States. “Understanding China, he said, “is easier than understanding the U.S.”
Some people call the Chinese standardization protectionism, but its no difference than the consortium of U.S. companies who protect their self-interests. Globalization, as he sees it, is about protection of intellectual property and freedom of capital flow. BUT it should also be about the freedom of labor flow – and Western companies never address this. It’s all about self-interest.
Where does China stand?
#1 – in mobile phones
#1 – cable TV subs
#2 – in Internet users
Average number of online friends never met in person: 7.7 (USA: 2.6)
Of the top 20 websites, China has 7 (all owned by IDG)