China’s strengths.
In an interview with CIO Insight’s Senior Executive Editor Dan Briody, Reed Hundt, author of the book ,“In China’s Shadow: The Crisis of American Entrepreneurship,” while talking about what U.S. businesses can and should do to rectify the innovation crisis, says:
“And if you look at the strength that Chinese firms bring to the competition, it's significant. First of all, China is now at the same level as Japan in R&D spending, and soon will be almost at the level of the United States. Second, it's so much cheaper for Huawei to run its business than for Cisco, by a factor of ten times. And finally, China has extremely easy access to capital, and all their markets are wide open for competition, mostly because they're growing. Nothing is a mature market there. It's very vigorous domestic competition, much more vigorous than most of the American markets. There's much more of what Americans used to think America was.”
From the original post by Yale Press Log
