Image by Getty Images via @daylifeOften in discussions of China’s economic progress the role of the private sector is forgotten. The economist article below quotes an official saying that more than 90% of businesses operating in China are private. Development of the entrepreneurial sector has never been more important than it is today. Innovation, creativity, and nimbleness are the strengths of small and emerging businesses. In a rapidly changing environment where the playing field and rules keep shifting, the ability to turn on a dime will be critical to survival and success.Developed economies truly have the ability to impact global economic growth by nurturing small and local business development in emerging economies. By empowering those on the ground in lesser developed countries, it is possible for the multitudes to lift themselves out of the conditions of poverty. We have the experience to support the development of infrastructures that will be incubators for burgeoning business owners. But we also have to allow space for our experiences and knowledge to be adapted to these new environments. The developing world has the capacity to leapfrog over many of the old technologies and ideas that we have used and bring fresh ideas and solutions to old problems. We cannot view this as a threat, it is a great opportunity, from which we will also prosper. This is the promise of the opening of Egypt, Tunisia and the rest of the autocratic regimes worldwide that are now on notice.
http://www.economist.com/node/18332610
China's Entrepreneur Confidence Index Slightly Up in Q1
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