YES and NO. Before I explain this contradiction, let me say that I’ve spent a considerable amount of time in China working with entrepreneurs and running incubator programs, so I’ve gained insights into the country and its business culture. This has allowed me to see the differences between the startup ecosystems.
First, China’s economy, geography, culture, politics and history are fundamentally different from that of the United States. China was the world’s leading innovator for a thousand years, with the invention of everything from porcelain and gunpowder to paper currency. However, like all great empires, it missed a step or two, and others overtook it. But China is back in the game now, and it has more people than any country on earth and more potential for innovation than ever before in its history.