https://www.youtube.com/watch?v=A8GwmsLXOx8
There are two rule of laws in China. One for the 76 million Communists and one for the rest.
Singapore could not have competed on certain fronts because China would do better.
But certain things China cannot catch up.
Opaque vs Transparent
No protection of IP vs protection of IP
That's why all pharmaceutical companies are based in Singapore and doing joint research. They sell to China but are not located in China.
What is remarkable about Obama. He put very capable men in the office.
He put people of opposing views: Lawrence Summers and Paul Volcker.
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