[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:15.47,0:00:19.03,Default,,0000,0000,0000,,Hi! My name is Jen and thank you so much \Nfor joining me today
Dialogue: 0,0:00:19.03,0:00:22.99,Default,,0000,0000,0000,,to walk on a journey \Nto make sense of China.
Dialogue: 0,0:00:22.99,0:00:25.91,Default,,0000,0000,0000,,So, to start, I'm going to show \Na picture of Napoleon,
Dialogue: 0,0:00:25.91,0:00:28.22,Default,,0000,0000,0000,,and for all of you who came \Nto a talk about China,
Dialogue: 0,0:00:28.22,0:00:31.47,Default,,0000,0000,0000,,well, you might be a little bit disappointed \Nright around now,
Dialogue: 0,0:00:31.47,0:00:35.86,Default,,0000,0000,0000,,and I felt that it's only just \Nto talk about the Eastern perspective
Dialogue: 0,0:00:35.86,0:00:38.52,Default,,0000,0000,0000,,by first talking about \Nthe Western insight.
Dialogue: 0,0:00:38.52,0:00:41.57,Default,,0000,0000,0000,,And, in fact, Napoleon actually said \Nin the 18th century
Dialogue: 0,0:00:41.57,0:00:45.66,Default,,0000,0000,0000,,that when the sleeping dragon awakes, \Nthe world will shake.
Dialogue: 0,0:00:45.66,0:00:47.89,Default,,0000,0000,0000,,Boy, was he right!
Dialogue: 0,0:00:47.89,0:00:51.15,Default,,0000,0000,0000,,And, in fact, you might be even wondering \Nwho am I to talk about China.
Dialogue: 0,0:00:51.15,0:00:54.77,Default,,0000,0000,0000,,After all I'm not expert, \Nbut there is a little bit of Chinese in me,
Dialogue: 0,0:00:54.77,0:00:57.74,Default,,0000,0000,0000,,having been born to a Chinese family \N22 years ago,
Dialogue: 0,0:00:57.74,0:01:01.80,Default,,0000,0000,0000,,I lived in Hong Kong for 10 years\Nand came back to Vancouver.
Dialogue: 0,0:01:01.80,0:01:07.08,Default,,0000,0000,0000,,And this summer, I was actually really interested \Nand curious about my heritage
Dialogue: 0,0:01:07.08,0:01:09.35,Default,,0000,0000,0000,,and instead decided to go back.
Dialogue: 0,0:01:09.35,0:01:12.36,Default,,0000,0000,0000,,And I worked with Credit Suisse \Nin Hong Kong to start,
Dialogue: 0,0:01:12.36,0:01:17.16,Default,,0000,0000,0000,,representing Chinese local companies \Nwho want to go into the foreign investment markets,
Dialogue: 0,0:01:17.16,0:01:19.50,Default,,0000,0000,0000,,as well I worked in Shanghai with DDB,
Dialogue: 0,0:01:19.50,0:01:25.37,Default,,0000,0000,0000,,where I was representing Western brands \Nwho wanted to go into China to tap the new market.
Dialogue: 0,0:01:25.37,0:01:30.45,Default,,0000,0000,0000,,And, when I was abroad, I learned \Nthe importance of mobile communication
Dialogue: 0,0:01:30.45,0:01:33.63,Default,,0000,0000,0000,,to the point that\Nnot only do your friends text you,
Dialogue: 0,0:01:33.63,0:01:37.88,Default,,0000,0000,0000,,but companies would actually text you \Nto remind you to change your water filters.
Dialogue: 0,0:01:37.88,0:01:40.91,Default,,0000,0000,0000,,So throughout this presentation,\Nif you have any questions or comments
Dialogue: 0,0:01:40.91,0:01:43.86,Default,,0000,0000,0000,,with regards to things\Nthat I may be saying,
Dialogue: 0,0:01:43.86,0:01:48.46,Default,,0000,0000,0000,,I welcome you to text me, \Nso I can personally respond to them afterwards.
Dialogue: 0,0:01:48.46,0:01:51.13,Default,,0000,0000,0000,,Now, having said that, I do realize
Dialogue: 0,0:01:51.13,0:01:55.79,Default,,0000,0000,0000,,that to fit a country with more than \N1 billion people into an 18 minutes talk,
Dialogue: 0,0:01:55.79,0:01:59.50,Default,,0000,0000,0000,,well, is really nothing short of ambitious\N– and I recognize that.
Dialogue: 0,0:01:59.50,0:02:03.97,Default,,0000,0000,0000,,So, today, let's actually dive into some \Nof the less obvious issues
Dialogue: 0,0:02:03.97,0:02:06.40,Default,,0000,0000,0000,,than what you might be able \Nto find on the Internet
Dialogue: 0,0:02:06.40,0:02:11.34,Default,,0000,0000,0000,,because there's not a word of the doubt\Nthat China's very much been in the limelight recently
Dialogue: 0,0:02:11.34,0:02:13.34,Default,,0000,0000,0000,,with headlines like these.
Dialogue: 0,0:02:13.34,0:02:16.75,Default,,0000,0000,0000,,So much so, that much \Nof what the Western media portrays
Dialogue: 0,0:02:16.75,0:02:21.97,Default,,0000,0000,0000,,has been through one of three avenues:\Nmain street media, movies and televisions.
Dialogue: 0,0:02:21.97,0:02:24.18,Default,,0000,0000,0000,,And of all these three sources,
Dialogue: 0,0:02:24.18,0:02:29.16,Default,,0000,0000,0000,,China's constantly been painted \Ninto one of two buckets of images.
Dialogue: 0,0:02:29.16,0:02:32.53,Default,,0000,0000,0000,,The first is that of... well, you know, \Nit's a third world developing country,
Dialogue: 0,0:02:32.53,0:02:34.47,Default,,0000,0000,0000,,a lot of social instability –
Dialogue: 0,0:02:34.47,0:02:37.12,Default,,0000,0000,0000,,And in the second one \Nis constantly the one where –
Dialogue: 0,0:02:37.12,0:02:41.47,Default,,0000,0000,0000,,"Aaah, it's kind of a black box \Nand I don't really know what to quite make of it."
Dialogue: 0,0:02:41.47,0:02:47.24,Default,,0000,0000,0000,,And in both of these instances, it's consistent \Nthat there's an almost underlying consensus
Dialogue: 0,0:02:47.24,0:02:54.07,Default,,0000,0000,0000,,that these six themes keep popping out,\Nbeing the pillars of any conversation around China.
Dialogue: 0,0:02:54.07,0:02:57.05,Default,,0000,0000,0000,,Now, some journalist may even \Ngo so far to suggest that
Dialogue: 0,0:02:57.05,0:03:02.64,Default,,0000,0000,0000,,these are the very same six reasons\Nas to why China will just be a temporary phenomenon
Dialogue: 0,0:03:02.64,0:03:07.99,Default,,0000,0000,0000,,and will not become a threat\Nto any global economic power play.
Dialogue: 0,0:03:07.99,0:03:10.24,Default,,0000,0000,0000,,But is that all \Nthere really is to China?
Dialogue: 0,0:03:10.24,0:03:16.07,Default,,0000,0000,0000,,I mean if you look at companies like\NGoogle, Ebay, Ford... they certainly will say so
Dialogue: 0,0:03:16.07,0:03:20.05,Default,,0000,0000,0000,,– I mean look at their unsuccessful\Nentries into the Chinese market recently,
Dialogue: 0,0:03:20.05,0:03:24.92,Default,,0000,0000,0000,,due to various PR or operations scandals.
Dialogue: 0,0:03:24.92,0:03:29.59,Default,,0000,0000,0000,,Well, imagine this – you have been invited\Ninto a housewarming party,
Dialogue: 0,0:03:29.59,0:03:34.54,Default,,0000,0000,0000,,and I think we can all agree that, in addition \Nto bringing a bottle of fine wine and a friendly toaster,
Dialogue: 0,0:03:34.54,0:03:37.41,Default,,0000,0000,0000,,it's common courtesy \Nthat you wouldn't go into the apartment
Dialogue: 0,0:03:37.41,0:03:39.99,Default,,0000,0000,0000,,and start re-arranging \Nthe furniture pieces
Dialogue: 0,0:03:39.99,0:03:44.43,Default,,0000,0000,0000,,or commenting on how poorly the layout \Nof the apartment has been designed.
Dialogue: 0,0:03:44.43,0:03:49.26,Default,,0000,0000,0000,,This is the same analogy that my manager\Nand director in Shanghai challenged me with.
Dialogue: 0,0:03:49.26,0:03:52.06,Default,,0000,0000,0000,,Because upon landing in China,\Ngetting off that plane,
Dialogue: 0,0:03:52.06,0:03:56.59,Default,,0000,0000,0000,,I had the very same biases \Nthat the Western media has painted for me.
Dialogue: 0,0:03:56.59,0:04:00.56,Default,,0000,0000,0000,,So before I move forward, I encourage you \Nto leave the shoes at the door,
Dialogue: 0,0:04:00.56,0:04:06.00,Default,,0000,0000,0000,,step into a new room of ideas, and try \Nto get to know China under a different light.
Dialogue: 0,0:04:06.00,0:04:10.20,Default,,0000,0000,0000,,Because after all it's easy to forget \Nthat China is only really 30 years old,
Dialogue: 0,0:04:10.20,0:04:12.35,Default,,0000,0000,0000,,despite its 5,000 years of history.
Dialogue: 0,0:04:12.35,0:04:15.16,Default,,0000,0000,0000,,The reason why I say that is\Nthat much of the economic reform
Dialogue: 0,0:04:15.16,0:04:18.67,Default,,0000,0000,0000,,has only happened in the last 30 years\Nsince the early 1980s.
Dialogue: 0,0:04:18.67,0:04:24.80,Default,,0000,0000,0000,,What you can see is the fact that it's only 1991\Nthat the Shanghai Exchange Market opened,
Dialogue: 0,0:04:24.80,0:04:30.31,Default,,0000,0000,0000,,it was only less than a decade ago \Nthat McDonald's opened its first location in China.
Dialogue: 0,0:04:30.31,0:04:35.24,Default,,0000,0000,0000,,All of it pointing to the fact that, well, \N66.3% of Chinese people would say
Dialogue: 0,0:04:35.24,0:04:39.20,Default,,0000,0000,0000,,that they're really quite happy \Nwith how things are going back home.
Dialogue: 0,0:04:39.20,0:04:42.56,Default,,0000,0000,0000,,Even still, an additional 12% would even say
Dialogue: 0,0:04:42.56,0:04:46.67,Default,,0000,0000,0000,,that they're very happy \Nabout how things are going back at home.
Dialogue: 0,0:04:46.67,0:04:50.95,Default,,0000,0000,0000,,Now, with this new attitude in mind,\Nlet's revisit some of the issues
Dialogue: 0,0:04:50.95,0:04:53.79,Default,,0000,0000,0000,,that the Western media \Nconstantly portrays,
Dialogue: 0,0:04:53.79,0:04:57.46,Default,,0000,0000,0000,,because for every single story,\Nthere are two sides to it.
Dialogue: 0,0:04:57.46,0:05:01.26,Default,,0000,0000,0000,,The first story is that of 'the great firewall', \Nor censorship.
Dialogue: 0,0:05:01.26,0:05:06.75,Default,,0000,0000,0000,,Now, what most of us take for granted,\Nlike Twitter, Facebook, Youtube, Google, Gmail –
Dialogue: 0,0:05:06.75,0:05:09.05,Default,,0000,0000,0000,,all of that is banned in China.
Dialogue: 0,0:05:09.05,0:05:10.86,Default,,0000,0000,0000,,And I'm sure some of you \Nin this room might even say,
Dialogue: 0,0:05:10.86,0:05:15.11,Default,,0000,0000,0000,,"Wow, is there really a point to even go \Non the Internet in such an environment?"
Dialogue: 0,0:05:15.11,0:05:17.78,Default,,0000,0000,0000,,When I was travelling to Beijing
Dialogue: 0,0:05:17.78,0:05:23.63,Default,,0000,0000,0000,,I actually decided to check in into Foursquare\Nwhen I was at Tiananmen Square,
Dialogue: 0,0:05:23.63,0:05:28.16,Default,,0000,0000,0000,,and the application on my iPhone\Nwould consistently 'crash' on me
Dialogue: 0,0:05:28.16,0:05:30.64,Default,,0000,0000,0000,,every single time that I tried\Nto check in.
Dialogue: 0,0:05:30.64,0:05:34.96,Default,,0000,0000,0000,,Before you get overly concerned \Nabout the Internet landscape in China,
Dialogue: 0,0:05:34.96,0:05:38.54,Default,,0000,0000,0000,,keep in mind that for every\Nsingle website banned,
Dialogue: 0,0:05:38.54,0:05:42.32,Default,,0000,0000,0000,,there's a pretty much a Chinese equivalent\Nto that very same website.
Dialogue: 0,0:05:42.32,0:05:44.73,Default,,0000,0000,0000,,In fact, I would even argue\Nthat this is an environment
Dialogue: 0,0:05:44.73,0:05:46.95,Default,,0000,0000,0000,,that the Chinese government has created
Dialogue: 0,0:05:46.95,0:05:50.17,Default,,0000,0000,0000,,essentially, to nurse \Nthe companies domestically,
Dialogue: 0,0:05:50.17,0:05:51.72,Default,,0000,0000,0000,,to have them all the time \Nthat they need
Dialogue: 0,0:05:51.72,0:05:54.70,Default,,0000,0000,0000,,to build market share and\Nto build know-hows
Dialogue: 0,0:05:54.70,0:05:58.89,Default,,0000,0000,0000,,before they're pitched directly to compete\Nagainst their global incumbents.
Dialogue: 0,0:05:58.89,0:06:03.73,Default,,0000,0000,0000,,If you were to look at the top ten\Nrichest people in China,
Dialogue: 0,0:06:03.73,0:06:08.60,Default,,0000,0000,0000,,more than half of that list would consist \Nof Internet start-up entrepreneurs
Dialogue: 0,0:06:08.60,0:06:11.88,Default,,0000,0000,0000,,that got rich based on this environment.
Dialogue: 0,0:06:11.88,0:06:15.14,Default,,0000,0000,0000,,Twitter made headlines\Nat the beginning of summer
Dialogue: 0,0:06:15.14,0:06:19.43,Default,,0000,0000,0000,,for having made its first 75 million users mark.
Dialogue: 0,0:06:19.43,0:06:23.74,Default,,0000,0000,0000,,Well, guess what? The fourth ranking \Nsocial media site in China called Renren,
Dialogue: 0,0:06:23.74,0:06:29.25,Default,,0000,0000,0000,,actually surpassed 128 million\Na year ago.
Dialogue: 0,0:06:29.25,0:06:34.13,Default,,0000,0000,0000,,Of course, the other commonly associated \N'C' word with China in Communism,
Dialogue: 0,0:06:34.13,0:06:36.73,Default,,0000,0000,0000,,and while I'm no political science student,
Dialogue: 0,0:06:36.73,0:06:39.79,Default,,0000,0000,0000,,I'm not going to stand here \Nand lecture in front of you about that.
Dialogue: 0,0:06:39.79,0:06:44.99,Default,,0000,0000,0000,,However, my family has been a product\Nof that progression –
Dialogue: 0,0:06:44.99,0:06:47.64,Default,,0000,0000,0000,,in that much of my family actually \Nhad been stripped away
Dialogue: 0,0:06:47.64,0:06:51.15,Default,,0000,0000,0000,,of everything that they had \Nduring the Cultural Revolution,
Dialogue: 0,0:06:51.15,0:06:55.94,Default,,0000,0000,0000,,and my grandparents were forced to leave\Nmy father and his siblings behind in the PRC
Dialogue: 0,0:06:55.94,0:06:58.91,Default,,0000,0000,0000,,to pursue a new life in Hong Kong.
Dialogue: 0,0:06:58.91,0:07:02.98,Default,,0000,0000,0000,,Or even, when I was working in Shanghai,\NI was delightfully surprised
Dialogue: 0,0:07:02.98,0:07:06.22,Default,,0000,0000,0000,,to have the postman come up \Nto pick-up my parcel
Dialogue: 0,0:07:06.22,0:07:08.68,Default,,0000,0000,0000,,that was supposed \Nto be sent for circulation,
Dialogue: 0,0:07:08.68,0:07:11.90,Default,,0000,0000,0000,,and instead, by routine practice,\Nhe would open up the parcel
Dialogue: 0,0:07:11.90,0:07:17.73,Default,,0000,0000,0000,,and actually see what's inside the box \Nand determine whether or not it's fit for circulation.
Dialogue: 0,0:07:17.73,0:07:20.44,Default,,0000,0000,0000,,So when I was sick, I wanted\Na bottle of Pepto-Bismol
Dialogue: 0,0:07:20.44,0:07:25.55,Default,,0000,0000,0000,,and my friend actually couldn't send it because\Nthe postman deemed it as inappropriate.
Dialogue: 0,0:07:25.55,0:07:30.78,Default,,0000,0000,0000,,Well – how do I make sense of that?
Dialogue: 0,0:07:30.78,0:07:34.98,Default,,0000,0000,0000,,What I'm arguing is that it's actually\Na pretty impractical and outdated view of China.
Dialogue: 0,0:07:34.98,0:07:37.61,Default,,0000,0000,0000,,While it's a communist state on paper
Dialogue: 0,0:07:37.61,0:07:41.20,Default,,0000,0000,0000,,and the political party leading China\Nis called the China Communist Party,
Dialogue: 0,0:07:41.20,0:07:44.37,Default,,0000,0000,0000,,really in effect the society\Nis quite capitalistic.
Dialogue: 0,0:07:44.37,0:07:47.54,Default,,0000,0000,0000,,Chinese citizens are encouraged to buy \Nand sell lands without worrying
Dialogue: 0,0:07:47.54,0:07:50.95,Default,,0000,0000,0000,,about the fact that the government \Nis going to take it away at any point.
Dialogue: 0,0:07:50.95,0:07:54.29,Default,,0000,0000,0000,,Chinese citizens are encouraged\Nto start their own businesses,
Dialogue: 0,0:07:54.29,0:07:58.28,Default,,0000,0000,0000,,so that they can actually channel \Ntheir funds to either saving accounts
Dialogue: 0,0:07:58.28,0:08:01.64,Default,,0000,0000,0000,,or to invest in stock market,\Nwithout worrying about the fact
Dialogue: 0,0:08:01.64,0:08:05.54,Default,,0000,0000,0000,,that the Chinese government \Nwill take away your money at any point.
Dialogue: 0,0:08:05.54,0:08:11.04,Default,,0000,0000,0000,,In fact, the issue of state ownership\Nbeing a key quality of the communist environment,
Dialogue: 0,0:08:11.04,0:08:16.32,Default,,0000,0000,0000,,if you look at the statistics,\Nmore than 150 state enterprises now
Dialogue: 0,0:08:16.32,0:08:19.50,Default,,0000,0000,0000,,are actually related \Nto the Chinese government directly.
Dialogue: 0,0:08:19.50,0:08:25.49,Default,,0000,0000,0000,,This is a drastic decrease \Nfrom the 90% of enterprises back in 1978,
Dialogue: 0,0:08:25.49,0:08:28.25,Default,,0000,0000,0000,,to be now less than 50%.
Dialogue: 0,0:08:28.25,0:08:33.46,Default,,0000,0000,0000,,Even more so, in such an environment,\Nthe Chinese government has actually suggested
Dialogue: 0,0:08:33.46,0:08:38.99,Default,,0000,0000,0000,,for its top leaders to find foreign managers \Nto come in and run the state enterprises
Dialogue: 0,0:08:38.99,0:08:46.21,Default,,0000,0000,0000,,as an indication that the Chinese are ready\Nto meet global competition and to play by the rules.
Dialogue: 0,0:08:46.21,0:08:48.84,Default,,0000,0000,0000,,Now, the third issue \Nis that of Corruption
Dialogue: 0,0:08:48.84,0:08:52.94,Default,,0000,0000,0000,,and in a fast growing economy it's hard\Nto escape not talking about this one.
Dialogue: 0,0:08:52.94,0:08:57.83,Default,,0000,0000,0000,,And, in Shanghai I was actually delightfully surprised\Nwhen I was walking along the streets –
Dialogue: 0,0:08:57.83,0:09:03.74,Default,,0000,0000,0000,,there is a certain hour, during a certain week,\Nin a certain neighborhood, on a certain street,
Dialogue: 0,0:09:03.74,0:09:07.06,Default,,0000,0000,0000,,that you would find porn vendors\Ncoming up with their little carts
Dialogue: 0,0:09:07.06,0:09:10.02,Default,,0000,0000,0000,,at that indicated time\Nand indicated location.
Dialogue: 0,0:09:10.02,0:09:14.68,Default,,0000,0000,0000,,This is because the porn industry is heavily regulated \Nand banned pretty much in China,
Dialogue: 0,0:09:14.68,0:09:21.86,Default,,0000,0000,0000,,and the vendors have paid off the police\Nto not patrol in that area during the pre-alloted time,
Dialogue: 0,0:09:21.86,0:09:24.51,Default,,0000,0000,0000,,so that they can go about\Nrunning their business.
Dialogue: 0,0:09:24.51,0:09:28.94,Default,,0000,0000,0000,,Or even, when I was being pick-pocketed \Non the street in Shanghai,
Dialogue: 0,0:09:28.94,0:09:35.31,Default,,0000,0000,0000,,I was told by the 17-year-old girl who took \Nmy iPod to dare me to take her to the police,
Dialogue: 0,0:09:35.31,0:09:39.68,Default,,0000,0000,0000,,because it's pretty much evident\Nthat the Chinese government has paid off the police
Dialogue: 0,0:09:39.68,0:09:42.84,Default,,0000,0000,0000,,to tell them not to investigate\Nin pick-pocketing incidences
Dialogue: 0,0:09:42.84,0:09:47.03,Default,,0000,0000,0000,,because, well – to be frank,\Nthey just happen too often.
Dialogue: 0,0:09:47.03,0:09:48.96,Default,,0000,0000,0000,,Now, this is again – think of it
Dialogue: 0,0:09:48.96,0:09:53.56,Default,,0000,0000,0000,,as part of China's 30-year-old \Nbirthday's coming out party –
Dialogue: 0,0:09:53.56,0:09:59.27,Default,,0000,0000,0000,,it's just going through a huge phase \Nof progression to be competitive
Dialogue: 0,0:09:59.27,0:10:03.46,Default,,0000,0000,0000,,against global rivals \Nas well as meeting Western Standards.
Dialogue: 0,0:10:03.46,0:10:09.02,Default,,0000,0000,0000,,In fact, the anti-corruption conference is actually \Nhappening at the end of November in China
Dialogue: 0,0:10:09.02,0:10:12.100,Default,,0000,0000,0000,,as a means for the Chinese government \Nto challenge its local representatives
Dialogue: 0,0:10:12.100,0:10:16.52,Default,,0000,0000,0000,,to step up and to meet\NWestern Standards.
Dialogue: 0,0:10:16.52,0:10:21.69,Default,,0000,0000,0000,,So much so, that if you look at the statistics,\Nmore than 5,000 companies
Dialogue: 0,0:10:21.69,0:10:26.38,Default,,0000,0000,0000,,have been accused by the Chinese government\Nof corruption in the last year.
Dialogue: 0,0:10:26.38,0:10:31.70,Default,,0000,0000,0000,,And this, is part of the Chinese government\Nstepping up for global competition.
Dialogue: 0,0:10:31.70,0:10:33.14,Default,,0000,0000,0000,,This is a bit of a fun one –
Dialogue: 0,0:10:33.14,0:10:36.94,Default,,0000,0000,0000,,If you're walking around Beijing\Nor if you're walking the streets in Shanghai,
Dialogue: 0,0:10:36.94,0:10:39.19,Default,,0000,0000,0000,,you will see this all the time,
Dialogue: 0,0:10:39.19,0:10:43.19,Default,,0000,0000,0000,,and it's so funny because it's almost\Nlike a photo scavenger hunt.
Dialogue: 0,0:10:43.19,0:10:47.44,Default,,0000,0000,0000,,We're all familiar \Nwith the brand Lacoste, of course, and –
Dialogue: 0,0:10:47.44,0:10:51.05,Default,,0000,0000,0000,,you would literally find on the streets\Nin Beijing that there will be a Lacoste store,
Dialogue: 0,0:10:51.05,0:10:53.97,Default,,0000,0000,0000,,and right next to it, it would be the replica \Nof the Lacoste brand –
Dialogue: 0,0:10:53.97,0:11:01.44,Default,,0000,0000,0000,,And some of the examples of the names would be,\NCrocodile since 1982, French Crocodilian –
Dialogue: 0,0:11:01.44,0:11:04.18,Default,,0000,0000,0000,,and my favorite one is Clio Coddle,
Dialogue: 0,0:11:04.18,0:11:08.25,Default,,0000,0000,0000,,which, to be frank, I don't understand \Nhow that derived from crocodile.
Dialogue: 0,0:11:08.25,0:11:13.26,Default,,0000,0000,0000,,Or, the fact that this summer\Nwhen Apple launched the iPad –
Dialogue: 0,0:11:13.26,0:11:18.76,Default,,0000,0000,0000,,I was delightfully surprised to find iPad replicas \Nthe next day on the street of Shanghai
Dialogue: 0,0:11:18.76,0:11:23.92,Default,,0000,0000,0000,,selling for only 140 dollars \N– and granted, they work just fine.
Dialogue: 0,0:11:23.92,0:11:25.93,Default,,0000,0000,0000,,So, what do we make of it?
Dialogue: 0,0:11:25.93,0:11:28.13,Default,,0000,0000,0000,,I argue that this is just\Na screening mechanism –
Dialogue: 0,0:11:28.13,0:11:33.84,Default,,0000,0000,0000,,again, part of China's mechanism of breeding\Nits companies to be globally competitive.
Dialogue: 0,0:11:33.84,0:11:36.81,Default,,0000,0000,0000,,Think of it as the survival \Nof the fittest idea.
Dialogue: 0,0:11:36.81,0:11:41.30,Default,,0000,0000,0000,,What you're looking at is the Facebook\Nequivalent in China called Renren
Dialogue: 0,0:11:41.30,0:11:45.28,Default,,0000,0000,0000,,and, in fact, it's been so successful\Nin gaining market share
Dialogue: 0,0:11:45.28,0:11:47.79,Default,,0000,0000,0000,,that there's virtually \Nno other social networking site
Dialogue: 0,0:11:47.79,0:11:52.98,Default,,0000,0000,0000,,targeting just at the college market,\Nlike Renren has done.
Dialogue: 0,0:11:52.98,0:11:57.62,Default,,0000,0000,0000,,And, you might look at all of that\Nand say, "Well, China is kind of backwards –
Dialogue: 0,0:11:57.62,0:12:02.51,Default,,0000,0000,0000,,Culturally, is not competitive \Nto what the Westerners are doing
Dialogue: 0,0:12:02.51,0:12:04.88,Default,,0000,0000,0000,,and I don't really know what to make of it."
Dialogue: 0,0:12:04.88,0:12:07.88,Default,,0000,0000,0000,,Being a Chinese it's fun\Nto bring home a boy to meet my family
Dialogue: 0,0:12:07.88,0:12:10.17,Default,,0000,0000,0000,,because my dad will ask \Nto see his palm
Dialogue: 0,0:12:10.17,0:12:13.40,Default,,0000,0000,0000,,to determine the ultimate fate \Nof not only him as an individual,
Dialogue: 0,0:12:13.40,0:12:15.32,Default,,0000,0000,0000,,but of us as a couple. \N(Laughter)
Dialogue: 0,0:12:15.32,0:12:17.79,Default,,0000,0000,0000,,Or, if you were to look at this picture –
Dialogue: 0,0:12:17.79,0:12:22.51,Default,,0000,0000,0000,,at the back, you would actually see \Nexamples of paper currencies
Dialogue: 0,0:12:22.51,0:12:25.53,Default,,0000,0000,0000,,that Chinese families \Nwould sit around the tables and make
Dialogue: 0,0:12:25.53,0:12:28.37,Default,,0000,0000,0000,,before they visit \Ntheir ancestors at their graves.
Dialogue: 0,0:12:28.37,0:12:33.76,Default,,0000,0000,0000,,Think of it as – well, a transfer\Nof wiring money from life here to afterlife,
Dialogue: 0,0:12:33.76,0:12:36.78,Default,,0000,0000,0000,,so that our ancestors are taken care of.
Dialogue: 0,0:12:36.78,0:12:40.11,Default,,0000,0000,0000,,And I'm looking at the audience and I see \Na couple of gentlemen with unshaven faces.
Dialogue: 0,0:12:40.11,0:12:41.86,Default,,0000,0000,0000,,Well, guess what?\NIf you were in China,
Dialogue: 0,0:12:41.86,0:12:44.77,Default,,0000,0000,0000,,you wouldn't be buying a lottery ticket today \Nbecause that's unlucky.
Dialogue: 0,0:12:44.77,0:12:51.85,Default,,0000,0000,0000,,Or, the next time when you're going to have \Na bowl of soup for dinner or lunch with noodles in it,
Dialogue: 0,0:12:51.85,0:12:55.53,Default,,0000,0000,0000,,if you accidentally cut \Na noodle short into pieces
Dialogue: 0,0:12:55.53,0:13:01.56,Default,,0000,0000,0000,,before it completely slurps into your body, \Nthat's bad luck too.
Dialogue: 0,0:13:01.56,0:13:07.30,Default,,0000,0000,0000,,It's just different – it's a bi-product\Nof 5,000 years of history. It's just different.
Dialogue: 0,0:13:07.30,0:13:10.49,Default,,0000,0000,0000,,It's not that Western values \Nare superior to that of the East;
Dialogue: 0,0:13:10.49,0:13:18.66,Default,,0000,0000,0000,,it's not that the Eastern philosophies are behind; \Nit's just different – it's 5,000 years of history.
Dialogue: 0,0:13:18.66,0:13:23.57,Default,,0000,0000,0000,,Besides, it's quite neat to know that some of the things \Nthat I believe in and that I practice
Dialogue: 0,0:13:23.57,0:13:27.38,Default,,0000,0000,0000,,were also believed and thought about\Nby my very same ancestors.
Dialogue: 0,0:13:27.38,0:13:29.16,Default,,0000,0000,0000,,You're looking at a website
Dialogue: 0,0:13:29.16,0:13:32.32,Default,,0000,0000,0000,,that's a typical layout\Nin a Chinese community.
Dialogue: 0,0:13:32.32,0:13:35.34,Default,,0000,0000,0000,,Now, for us Westerners \Nwe're used to looking at a website
Dialogue: 0,0:13:35.34,0:13:40.41,Default,,0000,0000,0000,,and seeing a lot of white real state,\Nfancy icons, colors, clarity – think Apple.
Dialogue: 0,0:13:40.41,0:13:45.87,Default,,0000,0000,0000,,In China, researchers have actually shown\Nthat the more white real estate there is,
Dialogue: 0,0:13:45.87,0:13:50.80,Default,,0000,0000,0000,,it means that there's less credibility and validity \Nto the content that's actually on the site.
Dialogue: 0,0:13:50.80,0:13:54.47,Default,,0000,0000,0000,,So, it's is very common for you to look at a website\Nwhere there are layers of information,
Dialogue: 0,0:13:54.47,0:13:57.60,Default,,0000,0000,0000,,where you spend hours just figuring out\Nhow everything is organized –
Dialogue: 0,0:13:57.60,0:14:01.37,Default,,0000,0000,0000,,And when a Chinese sees \Na website layout like this... they rejoice.
Dialogue: 0,0:14:01.37,0:14:06.60,Default,,0000,0000,0000,,They think that this is quality content...\NIt's just different.
Dialogue: 0,0:14:06.60,0:14:10.87,Default,,0000,0000,0000,,And it's hard to talk about an economy\Nthat is gaining so much traction in the world,
Dialogue: 0,0:14:10.87,0:14:14.32,Default,,0000,0000,0000,,without, of course, addressing\Nthe issue of pollution.
Dialogue: 0,0:14:14.32,0:14:17.100,Default,,0000,0000,0000,,I got a personal experience of this \Nwhen I was in Beijing hiking up the Great Wall.
Dialogue: 0,0:14:17.100,0:14:21.63,Default,,0000,0000,0000,,And I can literally take two fingers,\Ntake a swipe on my skin on my arm,
Dialogue: 0,0:14:21.63,0:14:25.26,Default,,0000,0000,0000,,and I would see a layer \Nof black dust on my fingerprints.
Dialogue: 0,0:14:25.26,0:14:27.29,Default,,0000,0000,0000,,Granted, when I first \Ngot off the plane
Dialogue: 0,0:14:27.29,0:14:29.46,Default,,0000,0000,0000,,I thought I was secreting\Nsome kind of foreign substance
Dialogue: 0,0:14:29.46,0:14:33.14,Default,,0000,0000,0000,,and that I needed to check myself\Ninto the hospital – clearly not!
Dialogue: 0,0:14:33.14,0:14:35.20,Default,,0000,0000,0000,,But what I want to share is that
Dialogue: 0,0:14:35.20,0:14:38.82,Default,,0000,0000,0000,,China is actually thriving \Nto be an icon for green.
Dialogue: 0,0:14:38.82,0:14:43.15,Default,,0000,0000,0000,,Some examples... think of the Shanghai Expo\Ntaking place in Shanghai this summer
Dialogue: 0,0:14:43.15,0:14:46.27,Default,,0000,0000,0000,,with the theme of \N"Better city, better life".
Dialogue: 0,0:14:46.27,0:14:49.82,Default,,0000,0000,0000,,It's a showcase to the world\Nof what green living could actually look like.
Dialogue: 0,0:14:49.82,0:14:52.17,Default,,0000,0000,0000,,Tell me another city in the world\Nthat you can think of\N
Dialogue: 0,0:14:52.17,0:14:58.17,Default,,0000,0000,0000,,where they turn off their iconic skyline\Nto save energy – well, Shanghai does that.
Dialogue: 0,0:14:58.17,0:15:01.86,Default,,0000,0000,0000,,Every night without fail, \Nat 10 pm they turn off the skyline
Dialogue: 0,0:15:01.86,0:15:06.71,Default,,0000,0000,0000,,to which people come and take pictures\Nof it as tourist, to save energy.
Dialogue: 0,0:15:06.71,0:15:08.28,Default,,0000,0000,0000,,To even build on that –
Dialogue: 0,0:15:08.28,0:15:11.46,Default,,0000,0000,0000,,the Chinese are working on building\Na network of eco-cities
Dialogue: 0,0:15:11.46,0:15:13.22,Default,,0000,0000,0000,,to showcase to the world \Nwhat it means
Dialogue: 0,0:15:13.22,0:15:15.31,Default,,0000,0000,0000,,to have self-sustaining complexes.
Dialogue: 0,0:15:15.31,0:15:19.73,Default,,0000,0000,0000,,Imagine if China can actually \Nprovide the solution
Dialogue: 0,0:15:19.73,0:15:22.56,Default,,0000,0000,0000,,to end global warming\Nand climate change.
Dialogue: 0,0:15:22.56,0:15:24.81,Default,,0000,0000,0000,,It's certainly taking steps\Ntowards that.
Dialogue: 0,0:15:24.81,0:15:26.76,Default,,0000,0000,0000,,And forgive my oversimplification,
Dialogue: 0,0:15:26.76,0:15:29.94,Default,,0000,0000,0000,,but if you were to look at the next 25 years –\Nwhere is the money going?
Dialogue: 0,0:15:29.94,0:15:33.65,Default,,0000,0000,0000,,First of all, the Chinese \Nhave invested 15 billion dollars
Dialogue: 0,0:15:33.65,0:15:38.18,Default,,0000,0000,0000,,to jump start its own automobile industry\Nand electric cars.
Dialogue: 0,0:15:38.18,0:15:43.60,Default,,0000,0000,0000,,15 billions dollars in 16 state-owned enterprises \Nover 20 pilot cities
Dialogue: 0,0:15:43.60,0:15:46.00,Default,,0000,0000,0000,,to free not only China from oil,
Dialogue: 0,0:15:46.00,0:15:49.16,Default,,0000,0000,0000,,but to free the rest of the world from oil.
Dialogue: 0,0:15:49.16,0:15:54.04,Default,,0000,0000,0000,,This also lays the foundation to the network \Nof trains and airports that they're building.
Dialogue: 0,0:15:54.04,0:15:56.13,Default,,0000,0000,0000,,Did you know that the Maglev,
Dialogue: 0,0:15:56.13,0:15:59.95,Default,,0000,0000,0000,,which is a train connecting\Nthe Shanghai airport into the city center,
Dialogue: 0,0:15:59.95,0:16:05.07,Default,,0000,0000,0000,,is actually the world's first \Ncommercialized magnetic levitation train.
Dialogue: 0,0:16:05.07,0:16:09.57,Default,,0000,0000,0000,,Or, the fact that the Chinese have invested heavily \Nin the jump start of their stem cells research as well,
Dialogue: 0,0:16:09.57,0:16:14.94,Default,,0000,0000,0000,,buying DNA sequences from foreign institutes\Nto jump-start its own industry.
Dialogue: 0,0:16:14.94,0:16:18.94,Default,,0000,0000,0000,,Well, ladies and gentlemen,\Nthis is modern China.
Dialogue: 0,0:16:18.94,0:16:23.89,Default,,0000,0000,0000,,And modern China is no longer going to be\Nthe manufacturing backyard to the rest of the world,
Dialogue: 0,0:16:23.89,0:16:26.63,Default,,0000,0000,0000,,so long are the days \Nof 'Made in China'
Dialogue: 0,0:16:26.63,0:16:28.50,Default,,0000,0000,0000,,and instead, is moving into \Na new paradigm\N
Dialogue: 0,0:16:28.50,0:16:33.46,Default,,0000,0000,0000,,of 'Innovated in China', quoting \Nthe words of the Prime Minister himself.
Dialogue: 0,0:16:33.46,0:16:38.10,Default,,0000,0000,0000,,And this opens up an opportunity\Nfor the generation like ourselves sitting in this room,
Dialogue: 0,0:16:38.10,0:16:40.17,Default,,0000,0000,0000,,who are naturally curious, \N
Dialogue: 0,0:16:40.17,0:16:42.46,Default,,0000,0000,0000,,passionate about \Nthe surroundings in the world.
Dialogue: 0,0:16:42.46,0:16:46.98,Default,,0000,0000,0000,,This opens up an opportunity \Nto not only change the life of one person,
Dialogue: 0,0:16:46.98,0:16:52.28,Default,,0000,0000,0000,,but the opportunity to change\Nthe lives of 1.34 billion and beyond.
Dialogue: 0,0:16:52.28,0:16:55.14,Default,,0000,0000,0000,,To leave an impact \Nnot only for one country,
Dialogue: 0,0:16:55.14,0:17:00.40,Default,,0000,0000,0000,,but to leave an impact for the rest of the world\Nand the global economic powerhouses
Dialogue: 0,0:17:00.40,0:17:03.56,Default,,0000,0000,0000,,of where the conversations just go.
Dialogue: 0,0:17:03.56,0:17:05.85,Default,,0000,0000,0000,,For us, that are naturally curious,
Dialogue: 0,0:17:05.85,0:17:11.39,Default,,0000,0000,0000,,this is an avenue for you\Nto think of new solutions to old problems,
Dialogue: 0,0:17:11.39,0:17:13.72,Default,,0000,0000,0000,,and we should all get excited about that.
Dialogue: 0,0:17:13.72,0:17:17.97,Default,,0000,0000,0000,,And the Chinese are welcoming\Nto these kind of solutions
Dialogue: 0,0:17:17.97,0:17:21.83,Default,,0000,0000,0000,,and I challenge you to see if there's new way \Nfor you to take part in this conversation,
Dialogue: 0,0:17:21.83,0:17:26.02,Default,,0000,0000,0000,,and to write a new chapter\Nin the new world's history.
Dialogue: 0,0:17:26.02,0:17:28.28,Default,,0000,0000,0000,,And hey, guess what?\NMaybe we would be part of the story
Dialogue: 0,0:17:28.28,0:17:31.07,Default,,0000,0000,0000,,that's being told for generation to come.
Dialogue: 0,0:17:31.07,0:17:33.12,Default,,0000,0000,0000,,And with that, welcome to China,
Dialogue: 0,0:17:33.12,0:17:36.54,Default,,0000,0000,0000,,and maybe even for some of you,\Nwelcome to your future home.
Dialogue: 0,0:17:36.54,0:17:39.96,Default,,0000,0000,0000,,Thank you for joining me today\Nand if you like to continue the conversation,
Dialogue: 0,0:17:39.96,0:17:41.98,Default,,0000,0000,0000,,feel free to follow me on Twitter,
Dialogue: 0,0:17:41.98,0:17:45.03,Default,,0000,0000,0000,,there's a list of China's shakers and movers\Nthat you could follow,
Dialogue: 0,0:17:45.03,0:17:47.45,Default,,0000,0000,0000,,that might suffice your interest.
Dialogue: 0,0:17:47.45,0:17:50.91,Default,,0000,0000,0000,,Thank you.\N(Applause)