A Different China Perspective

Published on
August 18th, 2020
Duration
61 minutes

A Different China Perspective

The Kiril Sokoloff Interviews ·
Featuring Weijian Shan

Published on: August 18th, 2020 • Duration: 61 minutes

Kiril Sokoloff interviews Weijian Shan, Chairman and CEO of PAG and the Managing Partner of PAG Asia Capital. Shan is one of Asia's foremost investors and one of the great thinkers on the Chinese economy and U.S.-China relations. In a different kind of interview, Shan discusses how the impact of foreign occupation, civil wars, and invasions left deep scars on the Chinese people. He relates a gripping personal story. At the age of 15, during the Cultural Revolution, he was exiled to hard labor in the Gobi Desert where he spent six years. Along with the rest of China, he lost ten years of formal education. The desire to catch up was enormous. Not many years later, he was in a PhD program at Berkeley with Janet Yellen as his advisor. Shan also discusses why reforms of SOEs are likely to continue, although he hopes for much faster pace. Where are the best places to invest in Asia. Why IP protection in China is better than widely perceived. And, why the trade and technology wars are a zero-sum game. Shan has an MBA from the University of San Francisco and a Master's and PhD from Berkeley. He was a professor at the Wharton School for six years and is the author of two books: Money Games: The Inside Story of How American Dealmakers Saved Korea's Most Iconic Bank and Out of the Gobi: My Story of China and America. Filmed on August 10, 2020.

Comments

Transcript

  • sh
    steve h.
    18 August 2020 @ 17:11
    Wow they have millions in camps ...torture.. live organ harvesting ...a bunch of thugs,,,crooks,, the world needs to put a wall around them until the thugs are out of power... The and both our parties sold our good paying jobs to these crooks...
    • DR
      David R.
      5 September 2020 @ 23:53
      Who is "they" and "them" and "these crooks"?.... Presumably the trump admin.
  • MT
    Mike T.
    18 August 2020 @ 19:08
    Quick poll. Anyone reading this, those that have spent time in China thumbs up to this post. Those that have never set foot in China, please give this poll thumbs down.
    • EM
      Emerson M.
      18 August 2020 @ 21:26
      I have lived and worked in China for a few years (so thumbs up), learnt to understand China society through a Chinese lens, and based on that I think this is a very good and necessary interview.
    • MT
      Mike T.
      20 August 2020 @ 08:25
      at time of this post results 28 : 14 most interesting although of course small sample size
    • MS
      Michael S.
      22 August 2020 @ 14:34
      And it's self reporting. It's probably nowhere near accurate. My guess, at least several hundred people saw your comment. But interestingly, it's roughly in proportion with the thumbs up/down for this video, so maybe I'm wrong. Wouldn't that be telling, if it's true, that people who'd been to China tend to like this video and people who hadn't tended not to like this video? Once you see a bunch of people, and live and work with them, it's hard not to accept that they might have their own views? Like my thumbs up, the yes votes are half taking the chance to brag, while the lack of no votes is a wanting to hide their ignorance on the subject?
    • DR
      David R.
      5 September 2020 @ 23:49
      Michael S, good point about how working and living abroad changes perceptions for everyone, for the better. We need MORE exchange programs and human-to-human interactions. Not pompazz & trump aborting everything. Unless you seek the WW3 and extinction of the species that "rapture" Pompass wants. "We lie, we cheat, we steal". Nuff said.
  • DJ
    David J.
    19 August 2020 @ 05:42
    How did you go from a hard labor camp to Berkley? They were taking applications so I applied and got in and that’s about it. Hmmmmmmmmmmmmm
    • AI
      Andras I.
      19 August 2020 @ 22:41
      Where there is a will, there is a way. I had a colleague (Canadian born) whose grandparents managed to swim to HK - they must be around similar age and HK (that time of course under British rule) was accepting them as a refugee. It looks like a short distance on the map but it's a bloody long haul in cold water and serious patrolling. You can find some articles like this: https://www.nytimes.com/1972/06/22/archives/chinese-refugees-swim-across-a-perilous-bay-to-hong-kong.html#:~:text=The%20escaping%20refugees%20spend%20four,on%20the%20Hong%20Kong%20shoreline.
    • RH
      Roger H.
      22 August 2020 @ 18:28
      Yes, and what about the red guard? Hard to believe that Mr. Shan did not get catapulted from elementary school to Berkeley because of his good graces with the government...or, because, perhaps, he was a red guard himself? Needs to be a bit more forthcoming about that incredible journey and how he was able to maneuver.
    • SO
      Shaun O.
      28 August 2020 @ 10:16
      your not a true businessman without some boring b/s story of how you came out of adversity. if you don't have one just make one up. the 1% that question you just say are being negative. btw my grandfather actually swam from Ireland to Australia as an orphan to take part in the gold rush he came broke, and needed to fight off killer koals to survive. thats how we learnt our values, how to swim and respect for our national animal. values to build a trustworthy business from. did I get the sale?
  • SM
    S M.
    24 August 2020 @ 00:33
    Very Political answers all the way. I felt like CCP came to him and said “If you like your family members to stay out of slave labor in Gobi Desert 🌵 then preach Chairman Xi’s propaganda in very innocence manner, Because your resume is convincing already.”
    • NA
      N A.
      27 August 2020 @ 07:08
      If your takeaway from listening to one of the most informed investors on China (who btw supports a US lead world order clearly) is that he is towing CCP lines during a voluntary RV interview you are beyond help. The China bashers here should thank their lucky stars that RV shows them a more balanced view from China so you can learn something, but instead you double down on your preconceived notions, sad. PAG is not some bucket shop, you might want to open your eyes when somebody of this caliber speaks about investment opportunities he is clearly much much closer to and better informed about than you likely are.
  • SC
    Sejong C.
    20 August 2020 @ 01:03
    Why do I feel that the interviewee was insincere?
    • JB
      Joshua B.
      20 August 2020 @ 01:49
      Surprise a corrupt rent seeker wants to keep things the same
    • NA
      N A.
      27 August 2020 @ 07:02
      Because you disagree with his view, that’s why.
  • SG
    Sashi G.
    26 August 2020 @ 10:23
    Interesting that Weijian expects Hong Kong's preeminent status as a financial center to continue. Leave alone whether China preserves HK's status or not, western governments may decide to go around it regardless as a part of global politics. Let's see
  • SG
    Sashi G.
    26 August 2020 @ 10:21
    This is NOT one of the better Kiril interviews. Maybe just because of the topic and who is speaking.
  • PS
    Patrick S.
    18 August 2020 @ 20:16
    So pre COVID, Weijian's video in early 2019 has ~10% thumbs down. And post COVID, after the wave of anti China media narrative, this video in mid 2020 has almost ~50% thumbs down
    • TP
      Timothy P.
      19 August 2020 @ 15:37
      Yeah, who knew if you suppress whistleblowers and then allow a virus to infect the world, that people may not like you. This pro-CCP sentiment I see in the comments is really a testament to how effective their propaganda is throughout the world.
    • AP
      Alex P.
      25 August 2020 @ 03:05
      Honestly thought his video in 2019 was more informational and interesting than this one. This one seems more PR like than truly in search of investment knowledge.
  • FM
    Fabio M.
    19 August 2020 @ 03:19
    Kiril is so in love with China that he could not see there was a state official in front of him... I do not say it to criticize China but it was really painful to hear so many biased and superficial statements in favor of everything Chinese. I would be as critical as this if I watched anyone talking about any other country (including the US) this way. I like over 90% of RV videos but this one was really bad.
    • GH
      Gregory H.
      19 August 2020 @ 07:06
      My favorite part was when Weijian said that the US standing up to China is "self-defeating"... just go back to how things were progressing... "don't shut yourselves out of [China] that growing market"... oh, the one where US corporates can't have majority ownership and turn over IP or have it stolen... yes, yes I see... if only we trade more with China, its markets will open and function like the west... that ship sailed in 2015 with Xi...
    • PL
      Pierce L.
      19 August 2020 @ 12:02
      Also could be said Kiril is being a good interviewer by allowing him the respect and space to make his point. The idea of the interview is to hear the perspective from China which I found valuable.
    • SL
      Sean L.
      19 August 2020 @ 20:27
      No, Pierce, a good interviewer has to push back at least a little. The idea that the US is 'shutting themselves out of the market' is so completely absurd that letting it slide ruined the whole interview.
    • PL
      Pierce L.
      20 August 2020 @ 00:32
      Fair point Sean. I agree he could have dug deeper on that. Still enjoyed hearing the counter narrative all things considered
    • LS
      Lemony S.
      20 August 2020 @ 14:04
      I've found in discussions over the last 10+ years that anyone from the older/boomer generation who is 65 or older doesn't even want to bother with critical thinking or how things might change. If it weren't so dishonest I wouldn't mind, but they act like they care about others or the future and in reality, status quo self preservation is all that drives them. It's quite sad.
    • MS
      Michael S.
      22 August 2020 @ 14:14
      The reason you "like over 90% of RV videos" is because they agree with your world view, and something that doesn't is "really bad"?
    • FM
      Fabio M.
      23 August 2020 @ 19:46
      It is because there is something useful in terms of knowledge and/or opinion (even if I do not agree with them) that can make me a better investor. In this case, the answers came in a very predictable fashion from someone whose only purpose was, clearly, to paint a very rosy picture of China. Did you get anything really useful out of it? For me, it was like watching an interview with the ambassador of China (which, frankly speaking, I would not do in the first place)—or with an ambassador of the US for that matter.
  • SB
    Stewart B.
    18 August 2020 @ 10:52
    I was surprised by the thumbs downs on this. I thought it was a great interview! We can all learn a lot from China's mistakes too. To me, the Federal Reserve (and other central banks) is not too different to the China's Great Leap Forward. A bunch of self-indulged academics and bureaucrats who think they can manipulate people and the economy better than allowing the free market to function.
    • WC
      Wilson C.
      18 August 2020 @ 12:15
      unfortunately it is a trigger, anything China can't be good. Kiril is a student of history.
    • LS
      Lemony S.
      20 August 2020 @ 14:09
      When Kirill doesn't call out Biden as a walking zombie, it is hard for anyone to take his analysis of current events or "history" seriously. The same Biden who has been bought by Chinese billions (another Hunter project) for decades.
    • MC
      Mark C.
      22 August 2020 @ 14:53
      Dear Wilson, you probably meant anything Chinese.... can’t be good. You poor specimen of humanity. You have my sympathies.
  • TP
    Timothy P.
    18 August 2020 @ 16:31
    Anyone following the Saleen story knows that IP in China is a toss-up, and most companies get outmaneuvered due to a chinese-business-favoring judicial system. I'm sure he has a high opinion of his homeland, and I'm astonished he was put through arduous hard labor -- the CCP regime is truly criminal in terms of treating their citizens like garbage. Its hard to have a "zero sum game" in technology when your achievements rely on stealing them from everyone else. Its more a parasitic relationship, and one that is ending due to the delisting of Chinese companies on U.S. Indexes who aren't conforming to the same audit rules that american companies do. As for his comments on Tencent, there are still bootleg Apple stores in the top-tier cities, you can buy knockoffs for most major brands there as well. China simply doesn't care, unless they get called out on it -- but since most of these companies can't restrain themselves, they overlook the parasitic behavior to get access to China's citizens. I'm also surprised that the interviewer said Mr. Shan was still in Hong Kong, seeing how the CEO of Apple News Daily got thrown in jail under the "National Security Law". He could very well be next, especially after discussing his hard labor sentence. (Not that I wish that, but its a true risk.) In short, companies and investors that are enabling the CCP regime to increase their dollar reserves should take a hard look at what they are party to. There's more going on here than just investment "opportunities".
    • AB
      Alastair B.
      18 August 2020 @ 17:34
      People forget that America used to be the country most famous for blatant copyright violation: https://creativelawcenter.com/dickens-american-copyright/
    • TP
      Timothy P.
      18 August 2020 @ 19:30
      @Keith - If that is the only thing you can push back on, you've got a pretty weak argument. Backing up to the high-level view, I have to wonder personally why you'd stand up for a country that is accused of and has been proven to be abusing their citizens rights -- to the extremes of maintaining concentration camps for "wrongthink", live organ harvesting, and recently letting the floodgates open on dams to innundate their own cities without any warning. Given what is going on in China in Hong Kong and elsewhere, I wonder about your motivations at trying to bolster a regime that has killed its own people to advance the CCP agenda. Ridiculous and reckless, if you ask me.
    • sh
      steve h.
      19 August 2020 @ 01:59
      Keith please go read something and get a brain
    • WC
      Wilson C.
      19 August 2020 @ 04:18
      1- suggest you read Kai-Fu Lee's AI Superpowers book, and spend more time in China if your outdated perspective is "all they do is steal tech". 2- bootleg apple stores, again outdated view. it used to be easy to find copies of almost any brand goods years ago, not now. same for streaming movies, harder now. people forgot how big China is (country wise), there will always be cheaters but in general, it's gotten much better. 3- Jimmy Lai is well known to locals as Mr. Anti-China since he founded Apple Daily. no surprise he's gotten arrested given his relationships with US officials.
    • MC
      Mark C.
      22 August 2020 @ 14:48
      Dear Tim, have you ever been to CHYNA and seen these bootleg Apple stores?
  • WM
    William M.
    19 August 2020 @ 05:40
    Outstanding and very worthwhile. Both China and the US could each improve in many ways - let's encourage both to do so versus convincing ourselves we need a new cold war....
    • GH
      Gregory H.
      19 August 2020 @ 07:00
      The US sat for 15 years (WTO entry 2001-2016), while China was fighting an economic stealth war... many of us in the US are happy to see us just evening the playing field... if that means "a new cold war" then so be it... but just remember the order of operations for this situation...
    • LS
      Lemony S.
      20 August 2020 @ 14:01
      What's worse is that China knew that many of our politicians (the foremost, Joe Biden) could be bought off to allow it to happen. Biden is the example par excellence of why America is in decline, a likable guy on the outsider with a back slapping and beer drinking veneer, but an utter sellout, selfish, self (they say "public") servant that allowed for America's demise on countless levels. That's why it's so amusing that he's actually the [half dead] Democrat candidate for president.
    • MS
      Michael S.
      22 August 2020 @ 14:11
      Lemony: Never mind those vague and very general charges are ones that you could make against half the citizens any political class or half the citizens of the U.S., everything you said could certainly also be said about Trump, except for the likeable part. Very specifically: Trump has his products made in China, and then goes after them for "taking our jobs"? He'd rather sue his American workers and vendors than pay them? How's that for complete lack of personal integrity, on this front?
  • NI
    Nate I.
    19 August 2020 @ 04:41
    The great institutions discussed in the interview that have supposedly served everyone so well have basically made a few people very wealthy at great expense to the vast majority. Frankly I count myself among the few that profited but I'm not cheering. The system has hollowed out American manufacturing and security so that a few people could capitalize on cheap Chinese labor selling products to an ever more indebted US. Look no further than the still ongoing shortage of medical supplies and medicines in the US to deal with the virus. Dr Ben Hunt at Epsilon Theory is still trying to hunt down N95 masks for frontline US healthcare staff. This is a national security and independence issue. It's imperative to onshore these critical functions regardless of whether or not it's more expensive. The select few are rich enough - myself included. The US is right to back away a bit from these great institutions and from offshoring to China. This isn't even all that great for China. The US debt is so massive that all of those Treasury bills China holds probably aren't worth the paper they're printed on. Oh China will get their dollars alright, but those dollars won't buy anything if we keep marching down the current path.
    • DS
      David S.
      21 August 2020 @ 23:17
      It was corporate labor cost arbitrage that started the hollowing out US manufacturing in the 50's. This can be seen with automation of the steel industry in the US - the movie "The Deer Hunter." Globalization accelerated the process. This was bound to happen as corporations went to greater and greater efficiencies demanded by Wall Street. Western consumers gladly bought everything cheaper and cheaper. Now we are trying to bring manufacturing back to the US using automation to arbitrage labor cost again. Where we failed was not upgrading and retraining our labor force. Retraining became more important with the digital revolution. It is easy to state the problem. It may be impossible to find the solution, especially during a pandemic. It is certainly above my pay grade. DLS
  • VK
    VIKRAM K.
    20 August 2020 @ 12:34
    Weijian Shan has clearly had an admirable life journey and his account of the cultural revolution is vivid and informative. He has also made some savvy investments. But the interview fails to even touch on some of the daunting domestic issues China faces today - its enormous public debt, its demographics, its widening inequalities. Externally, it has tense, if not hostile, relationships with not only the US but all of its neighbours from Japan through Southeast Asia to India. Australia too, and even the EU. It's only real allies are North Korea and Pakistan. Solofoff should have asked Shan about the consequences of all of this. Although one would not expect Shan to be honestly critical, given his vested interests as an investor in China, he should nevertheless have been asked. His view that all will be well in Hong Kong after the security law should also have been questioned. Overall, an interesting, but shallow and disappointing interview.
    • DS
      David S.
      21 August 2020 @ 22:50
      I understand your disappointment. I thought this was an excellent interview of the positive developments and history of China. We see and understand many of the negative points of view from other interviews. It is up to us to develop our own investment picture and sizing. It would be difficult for an American or Chinese citizen living in China to speak with candor. Sometimes I think it is difficult to speak with candor in the US also. DLS
  • sh
    steve h.
    18 August 2020 @ 18:24
    Blows me away they did not mention once the torture of there people.... Disgusting.....
    • PS
      Patrick S.
      18 August 2020 @ 20:18
      Meanwhile white cops are kneeling on black people's necks
    • LF
      Liam F.
      18 August 2020 @ 23:12
      And the Commander in Chief (sic) tortures ~60% of the population on a daily basis.
    • VM
      Veliko M.
      19 August 2020 @ 02:13
      All due respect to Patrick and William, but you need to have lived through an actual communist regime to really know the difference. Your leader might irritate you and cops may be biased, but it still does NOT come even close. Comparing a western democracy like the USA to a communist regime is just funny. Like looking at an S Class Mercedes vs a Moskvich. You just have NO idea how good you're having it here. Take it from someone who has lived in both systems.
    • LS
      Lemony S.
      20 August 2020 @ 14:06
      You mean cops followed their department protocol on an overdosed black man on multiple drugs who wouldn't get into the safe car they planned for him. Then died because of his bad health and drug use, not helped by having another confrontation (one of a long career of them) with cops. Patrick, you should be ashamed of yourself.
  • JG
    Job G.
    19 August 2020 @ 21:23
    How deep do you need to lick China's ass to be able to invest in goverment companies going private ?
  • RM
    Robert M.
    19 August 2020 @ 00:11
    Excellent interview. Good perspective on China for investors. Based on comments I read: 1. Weijian Shan didn't agree to do a free interview on RV to be grilled on China like it is 60 minutes. Thought Kiril asked useful questions for US investors. 2. Weijian is not going to an online interview criticizing China. Be realistic to the political repercussions. Plus it is his home country and where he has made his wealth. 3. You may not like how China operates, and there are a lot of negatives, it is the world's 2nd largest economy on the way to possibly being the largest. It is a large market for US companies. As investors, we need to stay abreast of their thinking. 4. If you invest in semiconductors, that is one big takeaway from the interview. As Covid may have accelerated the US move to online shopping, the trade war accelerated China's desire to be self sufficient. If they develop the in-house capacity to produce semiconductors, US companies will be greatly impacted. Don't believe markets are currently pricing this in. 5. The history lesson is important to understanding China's approach to trade negotiations. They are not going to be run over by the US. Market pops every time a "Phase 1" is announced. Reality is that China will do what benefits China. Investors need to discount this news as this love-hate relationship between the two countries will stretch for years as China looks to become the #1 economy in the world.
    • SL
      Sean L.
      19 August 2020 @ 20:30
      If there are discussions ahead of the interview about avoiding specific topics and honest criticisms, RV should include a censorship warning.
  • PL
    Pierce L.
    19 August 2020 @ 01:01
    Great interview. So valuable to get a counter narrative perspective. Kiril is a wonderful interviewer. Appreciated the flow from history of the cultural revolution into the current events. To hear what it’s like in an inefficient SRE Vs. a private corporation was interesting. It seems logical that there are people in China who want continued privatization. The big wild card is if CCP will respect the rights and laws and framework of the free market economy. Maybe over time the inefficiency of their state run economy will force it. Incentives otherwise don’t really line up for it to happen short term though. For them to cede power they already have is unlikely.
    • SL
      Sean L.
      19 August 2020 @ 20:28
      Is it 2003 where you are?
  • BS
    Bevyn S.
    19 August 2020 @ 00:59
    "China the victim" from the start. Incredible bias. Love Kiril, but encouraging and pandering through the whole interview to this theme takes away value. More propaganda than anything else.
    • AB
      Alastair B.
      19 August 2020 @ 13:43
      China is the victim in China, just as the USA is the victim in the USA. Good luck finding Chinese perspective in western media at the moment, as they have been demoted to ‘2D villain’ status. It’s not so simple though - be lucky that you have the privilege of being able to see both sides
  • TR
    Tara R.
    19 August 2020 @ 07:32
    So much more engaging than watching Kyle Bass froth at the mouth about China doing to the US what the US did to Britain
  • SU
    Shakeel U.
    19 August 2020 @ 04:16
    Excellent 10/10 😀
  • mc
    miroslaw c.
    19 August 2020 @ 01:46
    Unnecessarily difficult to have to strain to understand Kiril's voice. Bad microphone.
  • sp
    spencer p.
    19 August 2020 @ 01:33
    "open and free society" lol. no talk about china stealing tech to become competitive. No condemning Chinas takeover of HK.
  • MA
    Muhammad A.
    18 August 2020 @ 21:49
    Hi, is there a way to speed up the play to 1.25 / 1.5x? I couldn’t find any options.
    • MK
      Michael K.
      18 August 2020 @ 22:26
      Yes
    • ML
      Michele L.
      19 August 2020 @ 01:25
      if you hover over the video, look at the bottom and to the left of the "cc" you can change the speed by clicking on the 1x
  • WA
    Wissam A.
    18 August 2020 @ 10:42
    Lots of misleading statements by Weijian. Let us examine few of those: 1) Intellectual Property protection and theft: It has been well documented that Huawei stole Cisco's technology and incorporated that tech into their networking products. Also their mobile phones are just a copy cat of the iphone. China's court system are not independent of the CPC, therefore their rulings fulfill the CPC's wishes. No independent courts therefore you cannot have a serious regime in protecting intellectual property. Micron Technology was a victim of IP theft by the Chinese state and tried to block Micron from selling their products into the Chinese market. Bloomberg last year uncovered how the servers made in Chinese factories shipped to Cloud providers to the US had firmware stealing and spying on those cloud providers. There are many more examples of IP theft to be honest. 2) China is a leader in 5G technologies: No they are not. Huawei and ZTE pretty much buy all of their components from US, Korean, and Taiwanese tech companies. Because they are heavily subsidized by the CPC and wage suppression of their workers they have successfully undercut Ericsson and Nokia. Ask yourselves is this playing by the rules? Is this really innovative? Is this really competing? Alibaba just a copy cat of Amazon's business model. Tenecent all they do is borrow business models from American companies and incorporate it into their own business models. Where are these great Chinese innovations that Weijian is talking about. All is see copy and paste!!! 3) China is big market: No they are not. They have around 200 Million people that can do the actual consumption. The rest are poor. You can check yourselves about income per capita, median wages and incomes, and other income statistics. Not to mention it is ageing very fast. Faster than Japan. 4) I will give the Chinese this: Their railway system is top notch. Their bullet trains are the best in the world. Give credit where it deserves and when it comes to rail they are brilliant. I could go on and on about China. Kiril this the first interview where I am genuinely disapointed by you. Not a single push back on some of the claims mentioned by Weijian.
    • GW
      Geoff W.
      18 August 2020 @ 11:47
      Well said. And who built the Maglev Shanghai line - Siemens. So I guess there was a copy and paste of the railway system to nowhere. I appreciate interviews which challenge the interviewee rather than keep a big smile on his face, especially on a subject so important as China
    • WC
      Wilson C.
      18 August 2020 @ 12:31
      could be Kiril actually talks to more "in-the-know" people than you? read Kai Fu Lee's AI Superpowers. Money flow keeps coming east (incl. here in HK). Sounds you have your mind made up regardless. Chinese are hard working and innovative (as Weijian says). No shame in copying and making something better. Back in the day, they ripped off copies of European brand luxury bags (the so-called "A" fakes), and did it so well that you could take the bag to the real store here in Central (HK), and they would fix it for you, even the sales clerks couldn't tell the difference. same with Maglev, they built, had tech transfer, and made it better. There's more of an entrepeneur spirit in China than most realize (esp if you don't live around here or visit often). Think x millions iterating/innovating on everything from dishwashers, bus, tech, fashion, furniture, etc for a 1.2B market. But yeah, the force is strong with the media narrative.
    • JD
      James D.
      18 August 2020 @ 20:15
      Train system was created to move military troops to outlying areas in case of invasion...
    • DZ
      Dan Z.
      18 August 2020 @ 20:26
      Anyone looking for a great overview on how china modernized, how it robbed its citizens, stole IP, got its money to build out its cities over the last 30 years '' Chinas great wall of debt'' by Dinny Mcmahon is quite good.
  • nw
    nicholas w.
    18 August 2020 @ 14:36
    Kiril seems a good man, and clearly very bright; I also liked Mr Shan. But whilst the interview was interesting , KS let China off far too easily in my view. All that nonsense about Tencent Music being proof that IP is now safe.. Maybe from other Chinese Companies, where there is a clear Digital footprint and Tencent is the Plaintiff... But for a small European Company? Do me a favour. No more Fluff pieces please.
    • JD
      James D.
      18 August 2020 @ 20:13
      Both speakers know they would never earn a penny in China if they were critical. Ask Facebook, Twitter and so on... This is especially bad after HK and the reeducation camps..
  • PU
    Peter U.
    18 August 2020 @ 19:56
    Not Kiril's best interview. No credible push back on Weijian's narratives.
    • PD
      Pere D.
      18 August 2020 @ 20:11
      It’s an interview, not a debate.
  • PD
    Pere D.
    18 August 2020 @ 20:11
    I read Shan’s book last year. Excellent read. Very impressive individual.
  • Dv
    Daniel v.
    18 August 2020 @ 10:00
    I really can not believe that China's export and production has recovered like their official number are showing. I mean, to which countries can they export more year-on-year in the last months? Most countries have seen enormous negative GDP growth, yet China's exports are up? So that can only mean that, as countries are shifting imports from other countries towards China. Not sure about that.
    • AP
      Ananth P.
      18 August 2020 @ 15:18
      It's possible that in the short term, consumption is veering away from 'services' (airlines, hotels, restaurants etc.) to goods (masks, medicines, home improvement, tech for work from home etc.). China benefits from many of these trends, at least in the short term.
  • jG
    james G.
    18 August 2020 @ 15:00
    Great interview. more please. My take. .... China strong becoming stronger. US strong becoming weak. Mr Shan telling the US that they had better find a way to get along with China or China will eat them alive
  • AR
    Alexander R.
    18 August 2020 @ 12:48
    In totalitarian society, you are not free to speak your mind This interview could be very informative to learn what : official view of CCP and what is more importantly omitted. I do not bielibe majorly of RV viewers have the ability to interpret the interview In this light
  • JJ
    Joseph J.
    18 August 2020 @ 11:32
    Weijian has to tow the party line if he wants to continue to do business in China. Not unlike U.S. billionaires who have financial interests in China, they are constrained (or shaped) by those interests in what they say.
    • WC
      Wilson C.
      18 August 2020 @ 12:13
      nope, he doesn't. don't get fooled by US media narrative. China is more capitalist than USA (private business). Read Kai Fu Lee's AI Superpower book for another perspective.
  • AM
    Alastair M.
    18 August 2020 @ 12:05
    Wonderful interview and refreshing to get on the ground perspective from someone with real skin in the game
  • PB
    Pieter B.
    18 August 2020 @ 10:43
    Fascinating! Thanks a lot Kiril and Weijian!
  • sS
    sille S.
    18 August 2020 @ 08:10
    It’s not a different view, it’s the old view.
  • LS
    Lewis S.
    18 August 2020 @ 08:07
    More efficiency tends to mean less redundancy.. systems without redundancy are fragile. The balance needs to be right.