Bill Gates and the New Capitalism in China

Bill Gates, in Davos during the World Economic Forum , praised China's economic model as new capitalism.

"It is a brand-new form of capitalism, and as a consumer its the best thing that ever happened."

He appreciates the the scale economies of manufacturing. China contrasts Korea, that had to create more value add to its products after its wages moved up - may be Korea is too competitive in the same space as Microsoft?

He also likes that the current leaders in China are smart. "They have this mericratic way of picking people for these government posts where you rotate into the university and really think about state allocation of resources and the welfare of the country and then you rotate back into some bureaucratic position."

What do you think?

(By Asia Business Consulting)