1
00:00:15,470 --> 00:00:19,027
Hi! My name is Jen and thank you so much 
for joining me today

2
00:00:19,027 --> 00:00:22,991
to walk on a journey 
to make sense of China.

3
00:00:22,991 --> 00:00:25,910
So, to start, I'm going to show 
a picture of Napoleon,

4
00:00:25,910 --> 00:00:28,217
and for all of you who came 
to a talk about China,

5
00:00:28,217 --> 00:00:31,468
well, you might be a little bit disappointed 
right around now,

6
00:00:31,468 --> 00:00:35,857
and I felt that it's only just 
to talk about the Eastern perspective

7
00:00:35,857 --> 00:00:38,518
by first talking about 
the Western insight.

8
00:00:38,518 --> 00:00:41,570
And, in fact, Napoleon actually said 
in the 18th century

9
00:00:41,570 --> 00:00:45,660
that when the sleeping dragon awakes, 
the world will shake.

10
00:00:45,660 --> 00:00:47,887
Boy, was he right!

11
00:00:47,887 --> 00:00:51,150
And, in fact, you might be even wondering 
who am I to talk about China.

12
00:00:51,150 --> 00:00:54,767
After all I'm not expert, 
but there is a little bit of Chinese in me,

13
00:00:54,767 --> 00:00:57,744
having been born to a Chinese family 
22 years ago,

14
00:00:57,744 --> 00:01:01,804
I lived in Hong Kong for 10 years
and came back to Vancouver.

15
00:01:01,804 --> 00:01:07,084
And this summer, I was actually really interested 
and curious about my heritage

16
00:01:07,084 --> 00:01:09,351
and instead decided to go back.

17
00:01:09,351 --> 00:01:12,357
And I worked with Credit Suisse 
in Hong Kong to start,

18
00:01:12,357 --> 00:01:17,164
representing Chinese local companies 
who want to go into the foreign investment markets,

19
00:01:17,164 --> 00:01:19,500
as well I worked in Shanghai with DDB,

20
00:01:19,500 --> 00:01:25,366
where I was representing Western brands 
who wanted to go into China to tap the new market.

21
00:01:25,366 --> 00:01:30,449
And, when I was abroad, I learned 
the importance of mobile communication

22
00:01:30,449 --> 00:01:33,626
to the point that
not only do your friends text you,

23
00:01:33,626 --> 00:01:37,881
but companies would actually text you 
to remind you to change your water filters.

24
00:01:37,881 --> 00:01:40,911
So throughout this presentation,
if you have any questions or comments

25
00:01:40,911 --> 00:01:43,860
with regards to things
that I may be saying,

26
00:01:43,860 --> 00:01:48,456
I welcome you to text me, 
so I can personally respond to them afterwards.

27
00:01:48,456 --> 00:01:51,128
Now, having said that, I do realize

28
00:01:51,128 --> 00:01:55,794
that to fit a country with more than 
1 billion people into an 18 minutes talk,

29
00:01:55,794 --> 00:01:59,501
well, is really nothing short of ambitious
– and I recognize that.

30
00:01:59,501 --> 00:02:03,969
So, today, let's actually dive into some 
of the less obvious issues

31
00:02:03,969 --> 00:02:06,396
than what you might be able 
to find on the Internet

32
00:02:06,396 --> 00:02:11,336
because there's not a word of the doubt
that China's very much been in the limelight recently

33
00:02:11,336 --> 00:02:13,344
with headlines like these.

34
00:02:13,344 --> 00:02:16,751
So much so, that much 
of what the Western media portrays

35
00:02:16,751 --> 00:02:21,973
has been through one of three avenues:
main street media, movies and televisions.

36
00:02:21,973 --> 00:02:24,176
And of all these three sources,

37
00:02:24,176 --> 00:02:29,158
China's constantly been painted 
into one of two buckets of images.

38
00:02:29,158 --> 00:02:32,531
The first is that of... well, you know, 
it's a third world developing country,

39
00:02:32,531 --> 00:02:34,469
a lot of social instability –

40
00:02:34,469 --> 00:02:37,117
And in the second one 
is constantly the one where –

41
00:02:37,117 --> 00:02:41,469
"Aaah, it's kind of a black box 
and I don't really know what to quite make of it."

42
00:02:41,469 --> 00:02:47,235
And in both of these instances, it's consistent 
that there's an almost underlying consensus

43
00:02:47,235 --> 00:02:54,073
that these six themes keep popping out,
being the pillars of any conversation around China.

44
00:02:54,073 --> 00:02:57,048
Now, some journalist may even 
go so far to suggest that

45
00:02:57,048 --> 00:03:02,636
these are the very same six reasons
as to why China will just be a temporary phenomenon

46
00:03:02,636 --> 00:03:07,987
and will not become a threat
to any global economic power play.

47
00:03:07,987 --> 00:03:10,240
But is that all 
there really is to China?

48
00:03:10,240 --> 00:03:16,071
I mean if you look at companies like
Google, Ebay, Ford... they certainly will say so

49
00:03:16,071 --> 00:03:20,053
– I mean look at their unsuccessful
entries into the Chinese market recently,

50
00:03:20,053 --> 00:03:24,924
due to various PR or operations scandals.

51
00:03:24,924 --> 00:03:29,586
Well, imagine this – you have been invited
into a housewarming party,

52
00:03:29,586 --> 00:03:34,536
and I think we can all agree that, in addition 
to bringing a bottle of fine wine and a friendly toaster,

53
00:03:34,536 --> 00:03:37,414
it's common courtesy 
that you wouldn't go into the apartment

54
00:03:37,414 --> 00:03:39,990
and start re-arranging 
the furniture pieces

55
00:03:39,990 --> 00:03:44,429
or commenting on how poorly the layout 
of the apartment has been designed.

56
00:03:44,429 --> 00:03:49,263
This is the same analogy that my manager
and director in Shanghai challenged me with.

57
00:03:49,263 --> 00:03:52,060
Because upon landing in China,
getting off that plane,

58
00:03:52,060 --> 00:03:56,593
I had the very same biases 
that the Western media has painted for me.

59
00:03:56,593 --> 00:04:00,557
So before I move forward, I encourage you 
to leave the shoes at the door,

60
00:04:00,557 --> 00:04:06,002
step into a new room of ideas, and try 
to get to know China under a different light.

61
00:04:06,002 --> 00:04:10,203
Because after all it's easy to forget 
that China is only really 30 years old,

62
00:04:10,203 --> 00:04:12,347
despite its 5,000 years of history.

63
00:04:12,347 --> 00:04:15,157
The reason why I say that is
that much of the economic reform

64
00:04:15,157 --> 00:04:18,670
has only happened in the last 30 years
since the early 1980s.

65
00:04:18,670 --> 00:04:24,804
What you can see is the fact that it's only 1991
that the Shanghai Exchange Market opened,

66
00:04:24,804 --> 00:04:30,312
it was only less than a decade ago 
that McDonald's opened its first location in China.

67
00:04:30,312 --> 00:04:35,238
All of it pointing to the fact that, well, 
66.3% of Chinese people would say

68
00:04:35,238 --> 00:04:39,204
that they're really quite happy 
with how things are going back home.

69
00:04:39,204 --> 00:04:42,559
Even still, an additional 12% would even say

70
00:04:42,559 --> 00:04:46,667
that they're very happy 
about how things are going back at home.

71
00:04:46,667 --> 00:04:50,954
Now, with this new attitude in mind,
let's revisit some of the issues

72
00:04:50,954 --> 00:04:53,787
that the Western media 
constantly portrays,

73
00:04:53,787 --> 00:04:57,458
because for every single story,
there are two sides to it.

74
00:04:57,458 --> 00:05:01,261
The first story is that of 'the great firewall', 
or censorship.

75
00:05:01,261 --> 00:05:06,748
Now, what most of us take for granted,
like Twitter, Facebook, Youtube, Google, Gmail –

76
00:05:06,748 --> 00:05:09,052
all of that is banned in China.

77
00:05:09,052 --> 00:05:10,863
And I'm sure some of you 
in this room might even say,

78
00:05:10,863 --> 00:05:15,108
"Wow, is there really a point to even go 
on the Internet in such an environment?"

79
00:05:15,108 --> 00:05:17,781
When I was travelling to Beijing

80
00:05:17,781 --> 00:05:23,630
I actually decided to check in into Foursquare
when I was at Tiananmen Square,

81
00:05:23,630 --> 00:05:28,156
and the application on my iPhone
would consistently 'crash' on me

82
00:05:28,156 --> 00:05:30,644
every single time that I tried
to check in.

83
00:05:30,644 --> 00:05:34,961
Before you get overly concerned 
about the Internet landscape in China,

84
00:05:34,961 --> 00:05:38,538
keep in mind that for every
single website banned,

85
00:05:38,538 --> 00:05:42,323
there's a pretty much a Chinese equivalent
to that very same website.

86
00:05:42,323 --> 00:05:44,732
In fact, I would even argue
that this is an environment

87
00:05:44,732 --> 00:05:46,951
that the Chinese government has created

88
00:05:46,951 --> 00:05:50,171
essentially, to nurse 
the companies domestically,

89
00:05:50,171 --> 00:05:51,719
to have them all the time 
that they need

90
00:05:51,719 --> 00:05:54,705
to build market share and
to build know-hows

91
00:05:54,705 --> 00:05:58,890
before they're pitched directly to compete
against their global incumbents.

92
00:05:58,890 --> 00:06:03,731
If you were to look at the top ten
richest people in China,

93
00:06:03,731 --> 00:06:08,598
more than half of that list would consist 
of Internet start-up entrepreneurs

94
00:06:08,598 --> 00:06:11,883
that got rich based on this environment.

95
00:06:11,883 --> 00:06:15,144
Twitter made headlines
at the beginning of summer

96
00:06:15,144 --> 00:06:19,432
for having made its first 75 million users mark.

97
00:06:19,432 --> 00:06:23,744
Well, guess what? The fourth ranking 
social media site in China called Renren,

98
00:06:23,744 --> 00:06:29,248
actually surpassed 128 million
a year ago.

99
00:06:29,248 --> 00:06:34,130
Of course, the other commonly associated 
'C' word with China in Communism,

100
00:06:34,130 --> 00:06:36,734
and while I'm no political science student,

101
00:06:36,734 --> 00:06:39,786
I'm not going to stand here 
and lecture in front of you about that.

102
00:06:39,786 --> 00:06:44,990
However, my family has been a product
of that progression –

103
00:06:44,990 --> 00:06:47,644
in that much of my family actually 
had been stripped away

104
00:06:47,644 --> 00:06:51,148
of everything that they had 
during the Cultural Revolution,

105
00:06:51,148 --> 00:06:55,942
and my grandparents were forced to leave
my father and his siblings behind in the PRC

106
00:06:55,942 --> 00:06:58,912
to pursue a new life in Hong Kong.

107
00:06:58,912 --> 00:07:02,977
Or even, when I was working in Shanghai,
I was delightfully surprised

108
00:07:02,977 --> 00:07:06,223
to have the postman come up 
to pick-up my parcel

109
00:07:06,223 --> 00:07:08,676
that was supposed 
to be sent for circulation,

110
00:07:08,676 --> 00:07:11,905
and instead, by routine practice,
he would open up the parcel

111
00:07:11,905 --> 00:07:17,732
and actually see what's inside the box 
and determine whether or not it's fit for circulation.

112
00:07:17,732 --> 00:07:20,441
So when I was sick, I wanted
a bottle of Pepto-Bismol

113
00:07:20,441 --> 00:07:25,551
and my friend actually couldn't send it because
the postman deemed it as inappropriate.

114
00:07:25,551 --> 00:07:30,775
Well – how do I make sense of that?

115
00:07:30,775 --> 00:07:34,982
What I'm arguing is that it's actually
a pretty impractical and outdated view of China.

116
00:07:34,982 --> 00:07:37,611
While it's a communist state on paper

117
00:07:37,611 --> 00:07:41,205
and the political party leading China
is called the China Communist Party,

118
00:07:41,205 --> 00:07:44,371
really in effect the society
is quite capitalistic.

119
00:07:44,371 --> 00:07:47,537
Chinese citizens are encouraged to buy 
and sell lands without worrying

120
00:07:47,537 --> 00:07:50,953
about the fact that the government 
is going to take it away at any point.

121
00:07:50,953 --> 00:07:54,290
Chinese citizens are encouraged
to start their own businesses,

122
00:07:54,290 --> 00:07:58,284
so that they can actually channel 
their funds to either saving accounts

123
00:07:58,284 --> 00:08:01,643
or to invest in stock market,
without worrying about the fact

124
00:08:01,643 --> 00:08:05,537
that the Chinese government 
will take away your money at any point.

125
00:08:05,537 --> 00:08:11,039
In fact, the issue of state ownership
being a key quality of the communist environment,

126
00:08:11,039 --> 00:08:16,324
if you look at the statistics,
more than 150 state enterprises now

127
00:08:16,324 --> 00:08:19,503
are actually related 
to the Chinese government directly.

128
00:08:19,503 --> 00:08:25,486
This is a drastic decrease 
from the 90% of enterprises back in 1978,

129
00:08:25,486 --> 00:08:28,253
to be now less than 50%.

130
00:08:28,253 --> 00:08:33,456
Even more so, in such an environment,
the Chinese government has actually suggested

131
00:08:33,456 --> 00:08:38,992
for its top leaders to find foreign managers 
to come in and run the state enterprises

132
00:08:38,992 --> 00:08:46,209
as an indication that the Chinese are ready
to meet global competition and to play by the rules.

133
00:08:46,209 --> 00:08:48,836
Now, the third issue 
is that of Corruption

134
00:08:48,836 --> 00:08:52,938
and in a fast growing economy it's hard
to escape not talking about this one.

135
00:08:52,938 --> 00:08:57,828
And, in Shanghai I was actually delightfully surprised
when I was walking along the streets –

136
00:08:57,828 --> 00:09:03,736
there is a certain hour, during a certain week,
in a certain neighborhood, on a certain street,

137
00:09:03,736 --> 00:09:07,063
that you would find porn vendors
coming up with their little carts

138
00:09:07,063 --> 00:09:10,021
at that indicated time
and indicated location.

139
00:09:10,021 --> 00:09:14,675
This is because the porn industry is heavily regulated 
and banned pretty much in China,

140
00:09:14,675 --> 00:09:21,857
and the vendors have paid off the police
to not patrol in that area during the pre-alloted time,

141
00:09:21,857 --> 00:09:24,506
so that they can go about
running their business.

142
00:09:24,506 --> 00:09:28,938
Or even, when I was being pick-pocketed 
on the street in Shanghai,

143
00:09:28,938 --> 00:09:35,306
I was told by the 17-year-old girl who took 
my iPod to dare me to take her to the police,

144
00:09:35,306 --> 00:09:39,683
because it's pretty much evident
that the Chinese government has paid off the police

145
00:09:39,683 --> 00:09:42,839
to tell them not to investigate
in pick-pocketing incidences

146
00:09:42,839 --> 00:09:47,026
because, well – to be frank,
they just happen too often.

147
00:09:47,026 --> 00:09:48,963
Now, this is again – think of it

148
00:09:48,963 --> 00:09:53,563
as part of China's 30-year-old 
birthday's coming out party –

149
00:09:53,563 --> 00:09:59,274
it's just going through a huge phase 
of progression to be competitive

150
00:09:59,274 --> 00:10:03,462
against global rivals 
as well as meeting Western Standards.

151
00:10:03,462 --> 00:10:09,016
In fact, the anti-corruption conference is actually 
happening at the end of November in China

152
00:10:09,016 --> 00:10:12,996
as a means for the Chinese government 
to challenge its local representatives

153
00:10:12,996 --> 00:10:16,524
to step up and to meet
Western Standards.

154
00:10:16,524 --> 00:10:21,692
So much so, that if you look at the statistics,
more than 5,000 companies

155
00:10:21,692 --> 00:10:26,380
have been accused by the Chinese government
of corruption in the last year.

156
00:10:26,380 --> 00:10:31,696
And this, is part of the Chinese government
stepping up for global competition.

157
00:10:31,696 --> 00:10:33,141
This is a bit of a fun one –

158
00:10:33,141 --> 00:10:36,945
If you're walking around Beijing
or if you're walking the streets in Shanghai,

159
00:10:36,945 --> 00:10:39,193
you will see this all the time,

160
00:10:39,193 --> 00:10:43,187
and it's so funny because it's almost
like a photo scavenger hunt.

161
00:10:43,187 --> 00:10:47,438
We're all familiar 
with the brand Lacoste, of course, and –

162
00:10:47,438 --> 00:10:51,053
you would literally find on the streets
in Beijing that there will be a Lacoste store,

163
00:10:51,053 --> 00:10:53,969
and right next to it, it would be the replica 
of the Lacoste brand –

164
00:10:53,969 --> 00:11:01,438
And some of the examples of the names would be,
Crocodile since 1982, French Crocodilian –

165
00:11:01,438 --> 00:11:04,175
and my favorite one is Clio Coddle,

166
00:11:04,175 --> 00:11:08,253
which, to be frank, I don't understand 
how that derived from crocodile.

167
00:11:08,253 --> 00:11:13,263
Or, the fact that this summer
when Apple launched the iPad –

168
00:11:13,263 --> 00:11:18,760
I was delightfully surprised to find iPad replicas 
the next day on the street of Shanghai

169
00:11:18,760 --> 00:11:23,922
selling for only 140 dollars 
– and granted, they work just fine.

170
00:11:23,922 --> 00:11:25,934
So, what do we make of it?

171
00:11:25,934 --> 00:11:28,127
I argue that this is just
a screening mechanism –

172
00:11:28,127 --> 00:11:33,841
again, part of China's mechanism of breeding
its companies to be globally competitive.

173
00:11:33,841 --> 00:11:36,813
Think of it as the survival 
of the fittest idea.

174
00:11:36,813 --> 00:11:41,295
What you're looking at is the Facebook
equivalent in China called Renren

175
00:11:41,295 --> 00:11:45,276
and, in fact, it's been so successful
in gaining market share

176
00:11:45,276 --> 00:11:47,790
that there's virtually 
no other social networking site

177
00:11:47,790 --> 00:11:52,982
targeting just at the college market,
like Renren has done.

178
00:11:52,982 --> 00:11:57,625
And, you might look at all of that
and say, "Well, China is kind of backwards –

179
00:11:57,625 --> 00:12:02,513
Culturally, is not competitive 
to what the Westerners are doing

180
00:12:02,513 --> 00:12:04,880
and I don't really know what to make of it."

181
00:12:04,880 --> 00:12:07,884
Being a Chinese it's fun
to bring home a boy to meet my family

182
00:12:07,884 --> 00:12:10,168
because my dad will ask 
to see his palm

183
00:12:10,168 --> 00:12:13,399
to determine the ultimate fate 
of not only him as an individual,

184
00:12:13,399 --> 00:12:15,320
but of us as a couple. 
(Laughter)

185
00:12:15,320 --> 00:12:17,788
Or, if you were to look at this picture –

186
00:12:17,788 --> 00:12:22,512
at the back, you would actually see 
examples of paper currencies

187
00:12:22,512 --> 00:12:25,534
that Chinese families 
would sit around the tables and make

188
00:12:25,534 --> 00:12:28,370
before they visit 
their ancestors at their graves.

189
00:12:28,370 --> 00:12:33,760
Think of it as – well, a transfer
of wiring money from life here to afterlife,

190
00:12:33,760 --> 00:12:36,777
so that our ancestors are taken care of.

191
00:12:36,777 --> 00:12:40,109
And I'm looking at the audience and I see 
a couple of gentlemen with unshaven faces.

192
00:12:40,109 --> 00:12:41,858
Well, guess what?
If you were in China,

193
00:12:41,858 --> 00:12:44,768
you wouldn't be buying a lottery ticket today 
because that's unlucky.

194
00:12:44,768 --> 00:12:51,846
Or, the next time when you're going to have 
a bowl of soup for dinner or lunch with noodles in it,

195
00:12:51,846 --> 00:12:55,529
if you accidentally cut 
a noodle short into pieces

196
00:12:55,529 --> 00:13:01,563
before it completely slurps into your body, 
that's bad luck too.

197
00:13:01,563 --> 00:13:07,303
It's just different – it's a bi-product
of 5,000 years of history. It's just different.

198
00:13:07,303 --> 00:13:10,488
It's not that Western values 
are superior to that of the East;

199
00:13:10,488 --> 00:13:18,662
it's not that the Eastern philosophies are behind; 
it's just different – it's 5,000 years of history.

200
00:13:18,662 --> 00:13:23,567
Besides, it's quite neat to know that some of the things 
that I believe in and that I practice

201
00:13:23,567 --> 00:13:27,376
were also believed and thought about
by my very same ancestors.

202
00:13:27,376 --> 00:13:29,155
You're looking at a website

203
00:13:29,155 --> 00:13:32,325
that's a typical layout
in a Chinese community.

204
00:13:32,325 --> 00:13:35,340
Now, for us Westerners 
we're used to looking at a website

205
00:13:35,340 --> 00:13:40,412
and seeing a lot of white real state,
fancy icons, colors, clarity – think Apple.

206
00:13:40,412 --> 00:13:45,867
In China, researchers have actually shown
that the more white real estate there is,

207
00:13:45,867 --> 00:13:50,805
it means that there's less credibility and validity 
to the content that's actually on the site.

208
00:13:50,805 --> 00:13:54,468
So, it's is very common for you to look at a website
where there are layers of information,

209
00:13:54,468 --> 00:13:57,597
where you spend hours just figuring out
how everything is organized –

210
00:13:57,597 --> 00:14:01,374
And when a Chinese sees 
a website layout like this... they rejoice.

211
00:14:01,374 --> 00:14:06,595
They think that this is quality content...
It's just different.

212
00:14:06,595 --> 00:14:10,874
And it's hard to talk about an economy
that is gaining so much traction in the world,

213
00:14:10,874 --> 00:14:14,323
without, of course, addressing
the issue of pollution.

214
00:14:14,323 --> 00:14:17,999
I got a personal experience of this 
when I was in Beijing hiking up the Great Wall.

215
00:14:17,999 --> 00:14:21,627
And I can literally take two fingers,
take a swipe on my skin on my arm,

216
00:14:21,627 --> 00:14:25,263
and I would see a layer 
of black dust on my fingerprints.

217
00:14:25,263 --> 00:14:27,288
Granted, when I first 
got off the plane

218
00:14:27,288 --> 00:14:29,459
I thought I was secreting
some kind of foreign substance

219
00:14:29,459 --> 00:14:33,139
and that I needed to check myself
into the hospital – clearly not!

220
00:14:33,139 --> 00:14:35,195
But what I want to share is that

221
00:14:35,195 --> 00:14:38,825
China is actually thriving 
to be an icon for green.

222
00:14:38,825 --> 00:14:43,149
Some examples... think of the Shanghai Expo
taking place in Shanghai this summer

223
00:14:43,149 --> 00:14:46,270
with the theme of 
"Better city, better life".

224
00:14:46,270 --> 00:14:49,825
It's a showcase to the world
of what green living could actually look like.

225
00:14:49,825 --> 00:14:52,171
Tell me another city in the world
that you can think of


226
00:14:52,171 --> 00:14:58,173
where they turn off their iconic skyline
to save energy – well, Shanghai does that.

227
00:14:58,173 --> 00:15:01,860
Every night without fail, 
at 10 pm they turn off the skyline

228
00:15:01,860 --> 00:15:06,711
to which people come and take pictures
of it as tourist, to save energy.

229
00:15:06,711 --> 00:15:08,281
To even build on that –

230
00:15:08,281 --> 00:15:11,456
the Chinese are working on building
a network of eco-cities

231
00:15:11,456 --> 00:15:13,222
to showcase to the world 
what it means

232
00:15:13,222 --> 00:15:15,306
to have self-sustaining complexes.

233
00:15:15,306 --> 00:15:19,729
Imagine if China can actually 
provide the solution

234
00:15:19,729 --> 00:15:22,555
to end global warming
and climate change.

235
00:15:22,555 --> 00:15:24,810
It's certainly taking steps
towards that.

236
00:15:24,810 --> 00:15:26,762
And forgive my oversimplification,

237
00:15:26,762 --> 00:15:29,939
but if you were to look at the next 25 years –
where is the money going?

238
00:15:29,939 --> 00:15:33,646
First of all, the Chinese 
have invested 15 billion dollars

239
00:15:33,646 --> 00:15:38,179
to jump start its own automobile industry
and electric cars.

240
00:15:38,179 --> 00:15:43,600
15 billions dollars in 16 state-owned enterprises 
over 20 pilot cities

241
00:15:43,600 --> 00:15:46,000
to free not only China from oil,

242
00:15:46,000 --> 00:15:49,156
but to free the rest of the world from oil.

243
00:15:49,156 --> 00:15:54,043
This also lays the foundation to the network 
of trains and airports that they're building.

244
00:15:54,043 --> 00:15:56,128
Did you know that the Maglev,

245
00:15:56,128 --> 00:15:59,949
which is a train connecting
the Shanghai airport into the city center,

246
00:15:59,949 --> 00:16:05,071
is actually the world's first 
commercialized magnetic levitation train.

247
00:16:05,071 --> 00:16:09,571
Or, the fact that the Chinese have invested heavily 
in the jump start of their stem cells research as well,

248
00:16:09,571 --> 00:16:14,936
buying DNA sequences from foreign institutes
to jump-start its own industry.

249
00:16:14,936 --> 00:16:18,938
Well, ladies and gentlemen,
this is modern China.

250
00:16:18,938 --> 00:16:23,891
And modern China is no longer going to be
the manufacturing backyard to the rest of the world,

251
00:16:23,891 --> 00:16:26,631
so long are the days 
of 'Made in China'

252
00:16:26,631 --> 00:16:28,499
and instead, is moving into 
a new paradigm


253
00:16:28,499 --> 00:16:33,457
of 'Innovated in China', quoting 
the words of the Prime Minister himself.

254
00:16:33,457 --> 00:16:38,100
And this opens up an opportunity
for the generation like ourselves sitting in this room,

255
00:16:38,100 --> 00:16:40,169
who are naturally curious, 


256
00:16:40,169 --> 00:16:42,461
passionate about 
the surroundings in the world.

257
00:16:42,461 --> 00:16:46,976
This opens up an opportunity 
to not only change the life of one person,

258
00:16:46,976 --> 00:16:52,275
but the opportunity to change
the lives of 1.34 billion and beyond.

259
00:16:52,275 --> 00:16:55,141
To leave an impact 
not only for one country,

260
00:16:55,141 --> 00:17:00,395
but to leave an impact for the rest of the world
and the global economic powerhouses

261
00:17:00,395 --> 00:17:03,560
of where the conversations just go.

262
00:17:03,560 --> 00:17:05,851
For us, that are naturally curious,

263
00:17:05,851 --> 00:17:11,394
this is an avenue for you
to think of new solutions to old problems,

264
00:17:11,394 --> 00:17:13,725
and we should all get excited about that.

265
00:17:13,725 --> 00:17:17,970
And the Chinese are welcoming
to these kind of solutions

266
00:17:17,970 --> 00:17:21,827
and I challenge you to see if there's new way 
for you to take part in this conversation,

267
00:17:21,827 --> 00:17:26,025
and to write a new chapter
in the new world's history.

268
00:17:26,025 --> 00:17:28,284
And hey, guess what?
Maybe we would be part of the story

269
00:17:28,284 --> 00:17:31,072
that's being told for generation to come.

270
00:17:31,072 --> 00:17:33,118
And with that, welcome to China,

271
00:17:33,118 --> 00:17:36,535
and maybe even for some of you,
welcome to your future home.

272
00:17:36,535 --> 00:17:39,956
Thank you for joining me today
and if you like to continue the conversation,

273
00:17:39,956 --> 00:17:41,985
feel free to follow me on Twitter,

274
00:17:41,985 --> 00:17:45,034
there's a list of China's shakers and movers
that you could follow,

275
00:17:45,034 --> 00:17:47,452
that might suffice your interest.

276
00:17:47,452 --> 00:17:50,906
Thank you.
(Applause)