I love to hear people tell me how to use the vernacular "China is going to eat our lunch."
China is a great nation, and we should hope for the continued expansion. But ladies and gentlemen, their problems are immense, and they lack much of what we have. We have the best universities in the world. We have a legal system that is open and fair. We have the most agile venture capital system in the world. We lead the world in innovation and technology, all for a simple basic reason. Steve Jobs, speaking at Stanford was asked by a young man "how can I be more like you, how I can become like you?" And Job famously answered: think different.
You CANNOT think different in a nation where you cannot breath free. You CANNOT think different in a nation where you aren't able to challenge orthodoxy, because change only comes from challenging orthodoxy.
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I spent 10 days with President Xi at the request of former president Hu and President obama…I listened to his questions and the interests he had and he asked me how I felt after the 5 days in the U.S. and 5 days in China. And I said he's a strong bright man, but he has the look of a man who is about to take on a job he's not at all sure is going to end well. I mean that seriously.
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