China's Internet users has now reached 100 million. When the world is cheerful on the huge number, China's Internet business idea is still leaded by others, say, Eachnet after Ebay, bokee after blogger(the concept of blo), now, Baidu after Google. The search engine in China created another miracle listed in Nasdaq.
CNN reported: Baidu.com shares surged about 195 percent, to about $78, from their initial public offering price of $27 per American depositary share, nearly tripled.
All those good Interent business model seems applied to China. I call it good "localization". China is the world's largest manufacturing factory, which is also a good example of "localization", too. But the advantage is only based on cheap labor. If it disappears, the money flowing in will disappear in a few seconds, too.
The latest edition of businessweek told Americans that they should be more and more creative and innovative to maintain the advantage, after China and India becoming the world's factories. But could China keep the advantage forever with the growing property and labor prices, I wonder? How long should China's economy, including Internet economy, grow fast following others' ideas?
6 comments:
toodou.com and douban.com are two home-grown ideas I think are unique and not merely a copycat. The later seems to have more of a viable business potential while the former doesn't have a clear business model yet - but it's all too early to tell. We'll see.
right, but toodou.com is based on the idea of podcasting, isn't it? But it seems the website are shifting to a production company....
To be honest China can probably use other people's ideas for a while yet (like about 20 years, at a guess.) There is lots of room to improve in boring old industries like banking, manufacturing and retail.
That doesn't mean you can't invent something of your own as well, of course.
Dave
Hmmm, interesting, Dave. why you think banking, manufacturing and retail are boring old industries? I would like to know more about it and how you get to the conclusion.
*I* don't particularly think that they are boring old industries. But because they are old (hundreds of years old) industries, many people think they are boring (compared to businesses like Google, I suppose.)
hmmm, not exactly in Hong Kong, Dave. Investors here are still interested in buying the shares of Chinese banks, such as Bank of Communications and China Construction banks. People think it will make money.
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