Keyu Jin Quotes

Western economies... “nudging” s to do the ly optimal thing... have difficulty succeeding. In China... changes can be enacted quickly, with little political opposition.

[I]n China, innovation and have been defining features... despite socialist characteristics... It has found a way to combine private and state forces...

[C]apitalism’s... virtue... property rights protection and competition... are... weak in socialist systems...

China has strong state capacity and weak institutions... advanced countries... have strong formal institutions but state capacity is... eroding.

China’s political centralization is paired with economic decentralization. ...The "mayors" are... equity stakeholders of their jurisdiction. ...[M]arriage of local Officials and ...entrepreneurs is how China reformed, industrialized, urbanized, and ...innovates.

In China, the confluence of consumers, enterprises, and... state (which exerts significant power...) ...[is] a hybrid... of... market and "mayor" economies... [T]he Chinese state... has... more tools and instruments... mandates and objectives to mobilize collective action in service of... goals. ...[I]t can ...impose mandates and ...punishment.

The [West's] market economy... consumers and enterprises connected through a financial system... the state plays a minor role.

[I]ts model... embodies a... blend of the state and... market economy, striking a balance between state and industry, coordination and market incentives, communalism and individualism.

[T]hat a could be compatible... with capitalism... [and] socialism was a breakthrough...

Deng Xiaoping... once remarked that it does not matter whether a cat is black or white, so long as it catches mice. He... put an end to the... debate about the superiority of socialism and capitalism...

Only by fully grasping the new China model... can we... appreciate how different it is from pure capitalism or socialism.

[F]or those who think that China’s all-powerful political party and numerous s (SOEs) point to a state-dominated economy, consider... [T]he ... accounts for... 60 percent of national output, 70 percent of the nation’s wealth, and 80 percent of urban employment. Thirty years ago, it was the other way around.

The rule of law, sound corporate governance, and intellectual property protection... have been weak... Yet... China... succeeded.

[T]he backward homeland of my childhood has become the world’s second-largest economy... massive new cities... astonishing technological wonders. Yet... the world is... asking the same questions... comparing China to former Communist... autocratic... repressive regimes.

China has a host of very proficient engineers and... STEM students, so the mastery of is something I'm cautiously optimistic about... One of the key issues apart from China's still very centralized state innovation system, the whole-of-nation system, is the impatience of the nation. ...A country with a people that have seen really remarkable growth, that... want to do things... quickly and... see fast results. ...[T]hat kind of spirit, the short, fast, flat attitude ...originally ...a winning volleyball strategy ...then used to describe winning investment strategies. ...[C]reative breakthroughs ...basic research ...people need to be intrinsically motivated by intellectual passion. That's what is needed to have that long-term knowledge economy. ...[T]he reason that China's business models are so successful is that they're very fast and these companies become successful in a very short period of time.