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South China Morning Post
18 hours ago
- Business
- South China Morning Post
China offers an alternative to Western ‘technofeudalism'
At the turn of the century, global innovation followed a Western script. Silicon Valley dominated the world in innovation. Europe exported standards and governance. Asia, in contrast, was cast as the manufacturer, assembler and consumer. But the global innovation order is shifting. According to the latest Edelman Trust Barometer, change is under way not only in technical capability but also in public sentiment. In China, 72 per cent of people trust artificial intelligence (AI), compared to 32 per cent in the United States and 28 per cent in the United Kingdom. Similar patterns hold across India, Indonesia, Malaysia and Thailand as developing Asian markets consistently outperform Western and developed peers on public trust in innovation. This matters as without trust, even the most advanced technologies stall. Where trust is high, adoption accelerates, institutional alignment strengthens and public-private collaboration deepens. This serves as a powerful catalyst, especially for a country like China, whose innovation strategy is tightly interwoven with national development goals and the self-sufficiency mission . These dynamics play out against a broader philosophical divergence in how innovation is governed. Broadly speaking, two models dominate the innovation landscape. The first is the 'permissionless' model, which gave Silicon Valley its mojo. It champions speed, risk-taking and deregulation, based on the belief that innovation should be free to develop without prior approval. Although this laissez-faire approach has produced some of the most valuable technology companies globally, recent years have also seen such companies face accusations of acting against the public's best interests, sparking debates on their influence and societal role.
Bloomberg
18-05-2025
- Business
- Bloomberg
Wall Street Banks Say Emerging Markets' Wasted Years Are Over
Wall Street's emerging-market faithful are finally seeing better returns after missing out for years as US stocks soared. Morgan Stanley Investment Management, AQR Capital Management, Bank of America Corp. and Franklin Templeton are among those betting the tables may finally be turning in favor of developing-market equities.
