Comments by "Scott Franco" (@scottfranco1962) on "How China Became So Powerful" video.
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Couple of comments:
1. The west passed China technologically, but a lot of the basic technology came from China originally. Gunpowder, rockets, mining, quite a few things.
2. "stakeholder economics". Anyone can become a "stakeholder" in companies by purchasing their stock. And in fact, for tech companies especially, companies encourage employees to purchase stock and give stock awards. Beyond that it is up to you. You can purchase Chevron stock, and you can even (with only one share!) come to stockholder meetings and advocate for what you want. They literally have to listen, and you can (and many have) get the other "stakeholders", ie., stockholders to rally behind you and do things like vote the management out. Beyond that you are talking about giving control to people who haven't done a thing to earn it. Are you a stakeholder because you buy Chevron gasoline? The idea of "stakeholder" economics as it is proposed really comes down to more government regulation of companies, that is, government flexing their power to force companies to give "stakes" to people who had nothing to do with the success of the company.
3. The USA has been declining in emissions while China is growing and yet we want to put regulations on the USA but let China go their own way?
4. Companies in the USA are responsive to both their shareholders and to the public. They respond to pressure. That does not happen in China, where companies are only beholden to the government.
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