This is the most incredible thing about China. The numbers are very clear: there are about 10_000 companies are being formed each day in China [1]. The governme

This is the most incredible thing about China. The numbers are very clear: there are about 10_000 companies are being formed each day in China [1]. The government is actually investing heavily in these new firms and they receive all kind of economic, political and social support. Meanwhile in the US and much of the West new firm formation continues to plummet [2] and labor fluidity has collapsed leading to stuck wages [3]. You can see by the comments in this thread how much this state of affairs frightens people and of course all positive news out of China must be propaganda. It's unfortunate but all signs indicate this will likely continue until it's too late and Silicon Valley finds itself on the outside looking in. [1] https://news.ycombinator.com/item?id=13793288 https://news.ycombinator.com/item?id=13793288 [2] https://www.nytimes.com/2017/09/20/business/economy/startup-business.html https://www.nytimes.com/2017/09/20/business/economy/startup-... [3] https://www.federalreserve.gov/econresdata/feds/2016/files/2016015pap.pdf https://www.federalreserve.gov/econresdata/feds/2016/files/2...