Zhang Weiying: China Can Not Die Without A Batch Of Enterprises. It Is Impossible For China To Transform Its Economy.

Professor, Guanghua School of Management, Peking University Zhang Wei Ying

The following is the record of the speech:

Zhang Weiying: first of all, the important work of an entrepreneur is to judge the future. If we judge correctly, we will have the hope of success. Judging wrong is definitely the result of failure. I am not quite the same as you see. Just now, we have so many companies, Kodak, SONY, etc., that all the problems are outstanding. From our perspective, it is a good thing. It is precisely because there are good companies that have problems that prove that our society is developing. We are the best enterprises. Alcoa or Carnegie, or Kodak is still so popular 20 years ago, we now enjoy a lot of things that are impossible. Therefore, this is a basic feature of economic development, that is, a batch of excellent things will fall down and a batch of new ones will come out.

The more fierce competition is, the more enterprises will have to adapt, but no enterprise can continue to adapt. If you will continue to trial business, there will be no development, no enterprise will consciously change their own lives, but others will soon destroy it. It may make efforts. If no one destroys you, no enterprise will really revolutionize, we call creative destruction. This is unlikely. So, which enterprise should not think of being a centenary shop, this is almost impossible. Occasionally there is such a possibility that it must exist as a process. If you are the best entrepreneur in your life, you can do your best and play your role.

The second point is about speed. I was thinking about the British Industrial Revolution two hundred years ago. Then the industrial revolution in the United States did not have those statistics at that time. The statistics we are talking about are coming later, and the economy is still growing. What are we going to do now?

We now have statistics, especially Gross domestic product We are a goal, plan economic remains, I do not say that growth is not good, growth is good thing, but if like a person, your nutrition is full, good exercise will be normal, if I eat more food today, and more tomorrow, this person is not healthy, there is a fault itself, this is my basic view. The speed of our growth, including those we started to talk about, is that some people are bad mouthing China. It seems that people are malicious to us. Those who say that China's problems may be wrong, but we must not have that mentality, that is, only those who sing praise to China are good people. This is like China's love for China. So these people are bad at China. Those who really care about you will point out your faults.

I know that the poor are very obvious. He is annoyed when they speak a little bit of him. He is not confident. If a country is confident, he is not afraid of others to be bad mouthing himself. Just like we two have published a crime that is harmful to the image of a country. Who can damage your image in a great country? Only your own unconfident people are afraid of being harming your image. We are growing now. This figure can be built by man.

I recently went to Singapore, National University of Singapore two professors to do a very interesting research, he from the Republic of China dozens of years to 1949, the temperature of twenty cities in China every day has recorded, collected data, after 1949 to 2012, mainland China's temperature research, like Wuhan, before 1949, Wuhan often appear high temperature, more than 40 degrees of air temperature, four big stove, 1949 after you have never seen Wuhan more than 40 degrees of temperature, after 1949, our regime has changed, the temperature will change, right? This is very interesting. The government stipulates that you can't do outdoor work on 40 degree temperature, so you have to take a vacation, so the temperature in China will never exceed 40 degrees. So we are constantly pushing us by what we have compiled. {page_break}

I think it is even more strange for us, including our prime minister, and all of us here. We are all thinking about the figures of this month. What do we do? Anyone who stares at today's figures, great ideals, we should consider more long-term problems. As a country, I think that too many of us are commanding us from the top to the bottom. Why can't we see farther? What is the most taboo in a policy? Taboo is to sacrifice the long term for the immediate benefits, but unfortunately, all our policies are sacrificed for the sake of the present. Therefore, we should have some changes in ideas, including a lot of good things we talked about before.

Finally, when we talk about the future, I think of two questions, one is the trend, and the other is the trend. Another cyclical problem. From the point of view of trend, I think it is natural to adjust the speed of growth. It is healthy and normal. Only one point has to be adjusted, because our original speed is based on the great gap between us and the West. We often say that China has been in the West for two hundred years in the past thirty years. Let's think about what you are going to do for two hundred years. Your genes are more advanced than others. Wisdom is superior to others. Obviously not. The way we walk is definitely faster than him. A road that you have repaired for five years, and I have finished in five days, is a very natural thing. All of our development is from a technical point of view, it is all on the basis of other people's creation to us, so we are just imitating the economy. We are imitating the economy. We are not an innovative economy. Of course, it is very easy. Any technology can be used immediately to the oil market. My cost is lower than that of people. Now the gap is getting smaller and smaller. It is very easy for the pupils to take a naughty trick and grasp five or six. It is very easy to get five or six. How can we walk 200 years? It's very simple.

Therefore, the trend must be falling down, the second cycle, the cycle is artificial, and the trend is inevitable. In 2009, in order to stimulate the economy and our huge cost, we must bear this thing. What does Wenzhou look like now? What do you think of the present situation in Wenzhou? Let's not think that there is a lot of money in 2009. Every bank will find a loan for each entrepreneur. After you get the money, you will get real estate and die now. There is no difficulty in the real manufacturing industry in Wenzhou. Why do we have these problems now? That is, the government's flickering is just for the immediate fear, to show off, and you can't do it all over the world. This is something we could have avoided, but we have already suffered. The leadership of the former leader must bear the blame. No matter how high you are, it is unavoidable. You can reduce some aspects, but it is impossible for you to avoid these things completely. So, I say that I don't feel very clear about knowing these things. If five years ago, the Chinese economy began to turn, and entrepreneurs always wanted the simplest way to make money. When he could make money in real estate, he would never work hard to make a big innovation. Only he had no way out. Therefore, if China wants to transform itself without death, a batch of enterprises can not be transformed. If China's economy does not fall down, it will not be possible to transform. So, I think this is a good thing to see. China's economy It should be dropped, that is, there should be many enterprises can not survive, there must be some bankruptcy, we have the opportunity to rebirth. Thank you.