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Chinese entrepreneurs used to be known to be passive learners, but they are now shedding this image by becoming innovators. Earlier they were simply following on from the trends by top US tech firms. Now business innovations such as video applications and shared bikes are being launched by them. While US businesses are increasingly looking inward, Chinese firms are keener to learn from their American counterparts. There is also a difference in the model of how Venture Capitalists (VCs) do their work between these countries. American VCs are better at spotting trends, while their Chinese counterparts take in a more pragmatic, balanced view. China still needs to up its game when it comes to creativity. This where the US has a more entrepreneurial ecosystem thanks to the combination of MBA and PhD.

Source:http://www.xinhuanet.com/english/2018-11/12/c_137601570.htm

Uploaded Date:15 November 2018

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