<i>> The capitalist system pursues frontier technologies and profits, but companies like Huawei pursue scalability to the forgotten people of the world. For better or worse, it’s San Francisco or Shenzhen. For many countries in the Global South, the model of development exemplified by Shenzhen seems more plausible and attainable. Nobody thinks they can replicate Silicon Valley, but many seem to think they can replicate Chinese infrastructure-driven middle-class consumerism.</i><p>Is the San Francisco model sustainable, even in the west? The USA has maybe a half century left before its 20th century infrastructure is entirely deprecated and it has to stop pretending the real world is made of bits.
Surprised that there is no mention of South Korea in this article. The so called "Chinese model of capitalism" is directly based on the public-private partnerships model targeting LDCs South Korea and Taiwan both leveraged, which in turn was largely based on the Singapore model, as LKY advised Chinese premiers from Deng Xiaoping onwards. That said, this is a magazine published by the Berggruen Institute, who are a bit weird to say the least.