China Is More Open to New Ideas than Silicon Valley, Top Entrepreneur Says

China, we’ve been told for years, never will overtake the United States because command economies can’t innovate, only copy or steal. As a partner in a Hong Kong investment banking boutique, I saw plenty of innovation in companies we took to the stock market, notably by young Chinese scientists trained at America’s best universities. China may be a tortoise in terms of innovation, but the American hare has been asleep. Bound and gagged might be a better description.