Thursday, October 31, 2013

China & the Third Industrial Revolution

From his TIR website I was led to this recent story on how China (with Europe) will lead the way on implementing the program. A couple of key points from p.2 of the article:

"China has a social market economy like Europe. This is a huge asset. Infrastructure requires a social market economy. Infrastructure is something the government has to do and work with the business community to build it out. There is no example in the history of the world where infrastructure was put in by the private market. The marketplace does not create public goods, so it is absurd to think companies will do it. You can not create the third industrial revolution if your entire business, investment, and financial community is focused on three-month quarterly statements. China is extremely comfortable with the government having this role and with long-term planning. In China they have five-year plans.

"China has the cultural DNA to lead a third industrial revolution. In the West, our religious and philosophical tradition is that nature is the enemy, God has anointed us as masters, and we shall have dominion over nature. We exploit it. Confucius completely parted with that. He said the meaning of the human journey is to extend empathy. And he said human beings are not separate from nature—we are part of nature. The key to the evolution of the human journey is finding a balance and harmony between humanity and nature."

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