China's industrial dominance is driven by competitive local governments that act like venture capital firms, making it a continent-sized Silicon Valley (Works in Progress Magazine)

Overview

Works in Progress Magazine: China's industrial dominance is driven by competitive local governments that act like venture capital firms, making it a continent-sized Silicon Valley — China is not the world's largest command economy. It is a continent-sized Silicon Valley. — Imagine if Y Combinator owned and ran San Francisco.

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