China’s Disruptors

On a typical Summer afternoon in China, any number of people could be using Xiaomi smartphones to buy Haier air conditioners on Alibaba.com, all while connected to a high-speed Huawei network. For the Chinese, argues business consultant Edward Tse, this is revolutionary: after decades of state capitalism, they finally have a booming private sector–one that’s increasingly making waves beyond China. The record-setting Alibaba IPO was just Step 1. And although recent market turmoil has taken a toll, Western companies should pay close attention. After all, Tse writes, China may well be entering a golden age not unlike the Tang dynasty–when, over a millennium ago, the nation’s inventors changed the world with compasses, gunpowder, printing and papermaking.

–JACK LINSHI