Keyu Jin: prediction

Transcript context

…It’s a surprising idea, right? So, that there is a kind of, in the west conception of Chinese culture, Chinese economy, that everything is usually 50, 100, 200 years out. You have this long vision, but you’re basically saying that there’s a deep, in the business sector, impatience about everything. That’s a transitory phenomenon, I’d say, but if you look at the cheaper stuff, poor quality, that’s a reflection of that, the copying, it’s the same kind of mentality. Just get ahead quickly, but again, that is all shifting. That is all shifting, because China’s now in a different stage of development. If you ask the younger generation, they really care about quality. They care about values, and these companies, these very successful companies, successful in five years, ten years, found themselves in a very difficult position after a longer period of time. That short, flat, fast attitude, which was so popular, especially before the pandemic, that’s actually somewhat disappearing, so in some sense, this economic downturn is not that bad for China, because it made the Chinese realize that it’s not always going to go up, and it made them really look down deeper into what they really should be focused on, that there will be cycles, there will be up and downs, and so these very short-termist thinking and opportunistic way of driving business will ultimately fail. It’s bad for China that we’re having a sustained economic softness, but I think it’s also a very, very important lesson for the Chinese people to go through. Let’s go, if we can, a bit to the personal. So, you grew up in China. What are some moments from childhood that were maybe defining to your understanding of Chinese culture and Chinese economy?…

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