What the World Can Learn From China’s Innovation Playbook | Keyu Jin | TED
Growing up in China
The speaker talks about growing up in China during the 1980s when the country was still a place of scarcity.
Childhood Memories
- Reading poems with father by candlelight due to blackouts every week.
- Living on rationed food cooked from communal kitchens.
Technological Advancements
- China has turned into a country of abundance, especially when it comes to technological power.
- From high tech to business tech to everyday tech, there isn't anything you can't find, only things you can't imagine.
- Examples of technological advancements include scanning face to buy a can of Coke and toothpaste being delivered by a robot.
Innovation and Technological Growth in China
The speaker offers a different lens to look through regarding innovation and technological growth in China.
Importance of Innovation
- Innovation is not just about inventing new things but also includes new applications, business models, and better processes that lower costs. These one-to-n innovations are just as important as zero-to-one innovations.
Examples of Chinese Innovations
- TikTok has garnered more than a billion users around the world despite not being the first short-video app.
- BYD's 15,000-dollar EV cabs with half a million kilometers of range can lead to lower emissions and mass adoption compared to Tesla's price point.
- Chinese mobile phones might not be as revolutionary as iPhone but have well over half market share in African countries solving access problems for developing countries who lack suitable technologies they can use.
China's Innovation Ecosystem
- Turning an idea or scientific discovery into commercial success requires an innovation ecosystem that includes the collaboration of universities, national labs, and industries with enormous amounts of funding that covers long and uncertain investment cycles.
- Part of China's success in innovation is due to a "whole nation" approach or what they call a "juguo" system.
Behind the Scenes: How China Innovates
The speaker discusses how China innovates.
State Backing
- Many groundbreaking technologies are the products of horizontal systems with critical state backing such as the Apollo program, Manhattan Project, and Japan's rise to semiconductor stardom.
Technological Advancements
- China conducted the first quantum video call and launched the first drone that can carry a passenger in air.
Conclusion
The speaker concludes by emphasizing that better understanding each other will help us find common goals to work on rather than a downward spiral that harms all.
Final Thoughts
- The speaker is an economist straddling multiple worlds who believes there is much misunderstanding about this megacountry that has defied conventional wisdom.
- While the system is far from perfect, it offers a unique model that has fostered innovation and technological growth in China.
- A better understanding of each other will help us more likely to find common goals to work on rather than a downward spiral that harms all.
Mobilizing National Resources
In this section, the speaker talks about mobilizing national resources and casting the net wide.
Mobilizing National Resources
- The speaker emphasizes the importance of mobilizing national resources to achieve a common goal.
- He suggests that countries should work together to pool their resources and expertise.
- The speaker believes that by working together, countries can achieve more than they could on their own.
- He encourages countries to cast the net wide and involve as many people as possible in their efforts.