“‘The last century was America’s century,’ says our Chinese colleague. ‘This is China’s century.’  ‘You know why America was such a success,’ he continued. ‘Because it was a fairly free market with massive domestic demand. Companies could scale up in the highly competitive US market. That would make them larger and more advanced than their foreign competitors. They could then enter foreign markets and easily beat the locals. China is full of new companies. Everything is new. And the internal market is fairly free compared to America. Talk about scale. These companies have massive domestic growth and learning capacity before they have to compete on the world markets.”

http://bonnerandpartners.com/secret-tiny-number-investors-understand/

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