Thomas Friedman provides a
helpful snapshot of what China's doing with its taxpayers' money...versus what we're doing with ours.
Here's what China's doing:
China is doing moon shots. Yes, that’s
plural. When I say “moon shots” I mean big, multibillion-dollar,
25-year-horizon, game-changing investments. China has at least four
going now: one is building a network of ultramodern airports; another is
building a web of high-speed trains connecting major cities; a third is
in bioscience, where the Beijing Genomics Institute this year ordered
128 DNA sequencers — from America — giving China the largest number in
the world in one institute to launch its own stem cell/genetic
engineering industry; and, finally, Beijing just announced that it was
providing $15 billion in seed money for the country’s leading auto and
battery companies to create an electric car industry, starting in 20
pilot cities. In essence, China Inc. just named its dream team of
16-state-owned enterprises to move China off oil and into the next
industrial growth engine: electric cars.
To read the full, original article click on this link: Check Out What China's Doing With Its Taxpayers' Money
Author: Henry Blodget
