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TEDxAmsterdam 2013 China's rise by Mind Map: TEDxAmsterdam 2013
China's rise
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TEDxAmsterdam 2013 China's rise


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...the author

Helen Mees, interview with Helen Mees by Frenk van der Linden, @helenmees on Twitter,

...this talk

What the video of this talk on YouTube


Related talks


this is a a mini-lecture

about China

about the real cause of the financial crisis

...and how to get out of it

the cause of the crisis

5 years ago

...after collapse of Lehman brothers

pictures flooded TV-screens, foreclosed houses, displace home owners

before, most people never heard of, credit default swaps, colloaterlide deb obligaton, subprimsemortages

Wallstreet, was singled out, as the vilan oft he financial crisis

greedy bankers

did contribute to inital banking crises

however, they're not the main cause of:, the housing bubble, ecnonomic crises that follwed when the housing bubble went bust

We need to look East instead of West

China instead of Wallstreet

The building and bursting of the bubble

wat happened

corporate profit soured

corporate savings soured as well, only part of profits reinvested

China's households saved a lot of their income, Beacuse No social safety net

Chinese government invsted excess saving in US treasury, i.e.government bonds

this bubble was bound to burst

result, housing interest rates fell, housing prices rised

happened in, US, Canada, Austalia, Europe

example of results in Spain and Ireland, Interest rates cut in half, housing prices doubled, all within a matter of years


housing markets in western hemispheres started to collapse

stock markets followed suit

people stopped buying things, realised they were not a wealthy as they previous thought, afraid to lose their jobs, ... or being able to hold on their job at all

the recovery


was not only the reason we got in this mess

was also the reason the recovery was painfully slow

still has more workers than it actually needs

it's like a pyramid scheme, theory by Paul Krugman, high investment, low consumption


As long as China has an excess of labour...

...wage growth will be muted here at best

...and so will consumer demands

What we can do, in the future

even when China eventually gets rid of their excess workers we're still not out of the woods

we wil lose out

if China closes the innovation gap, e.g. if they outsmart us

both, relatively, absolutely

China is more than a giant sweatshop

also in the forefront of, medicine, hight tech, computing

i.e., the worlds fastest computer is in China, the world's lightest materal is developed by Chinese scientists, currently on the forefron of human genomen mapping

What we can do

we will have to outsmart ourselves, i.e., Elon Musk, founder Space-X, Paypayl, tesla motors

think the unthinkable, imagin the uninmageable, i.e., Picasso, "woman with a mandolin", 1910, before 1910, even the most avant-garde artists had a hard time imagining an abstract work, e.g. a picureof something that is not a picture, now, it's hard to imagine a world without abstract art

The rise of China

1.3 billion people

e.g. the world's most populous nation

50 years ago

45 million people died in starvation, estimate, in communist China


China's government embarked on economic reforms

gently opening up the country up to the forces to the marker


China's accessing to World Trade Organization, culmination of economic reforms

one billion workers added to the global workforce, very cheap labor, China became the factory of almost the entire world

the West: paying their workers 3rd world wages, selling their product for 1st world prices