Friday, October 26, 2007

Modern Chinese Secret

Check out this report by Becky Quick from CNBC. She's touring Asia with Warren Buffett and she's at a factory that Buffett's Iscar put up in six months. THIS is why China is kicking our ass (or will kick our ass) economically. Not the yuan peg, not sweatshop wages, not subpar labor standards - none of this is the secret to China's economic vitality. The secret is that China moves fast and gets things done. You want to build a factory? Boom. Six months. Done. Try doing that in America. Some companies can't get things built in six years in the good 'ole USA. Thank you radical environmentalists, NIMBYs, trial lawyers and inept local officials of America. You make China the business hotspot that it is.


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