A Quote by Park Won-soon
With regard to the 5G market, China is rather a competitor than a partner.
Related Quotes
U.S. exports to China have more than quintupled since China entered the WTO and have grown more quickly than imports. In fact, China is America's fastest-growing export market.
When an entrant competitor attacks the low end of any market, the rational reaction of the incumbent firms is to abandon rather than defend it - because the low end is the least profitable of their possible investments.
You never know where your career will take you. A competitor in the market could suddenly become an unlikely partner. Be flexible, keep your slate clean, and stay open to unlikely collaborations.
With a population of 1.4 billion, China is a lucrative market. But getting into that market isn't cheap. At best, the price of doing business in China is silence; at worst, it's reading talking points straight from the Chinese Communist Party. Beijing is not subtle about it.
You cannot just depend on the market, because the market will say: China needs oil; China needs coal; China needs whatever, and Africa has got all these things in abundance. And we go there and get them, and the more we develop the Chinese economy, the larger the manufacturing is, the more we need global markets - sell it to the Africans which indeed might very well destroy whatever infant industries are trying to develop on the continent. That is what the market would do.
In America, when you bring an idea to market, you usually have several months before competition pops up, allowing you to capture significant market share. In China, you can have hundreds of competitors within the first hours of going live. Ideas are not important in China - execution is.
At the moment we are hard-wired into the European markets - 50% of our exports go to Europe - and that has not been good for the UK. So I'm not saying "make Britain entirely dependent on China". I'm saying "let's diversify a bit". When I became chancellor, China was our ninth largest trading partner. This is the world's second biggest economy. China was doing more business with Belgium than it was with Britain.
Our message to China is very clear: we want the U.K. to be China's best partner in the West.
Of course I have the license to make up things, but I think a lot of what's written about China is misleading, and most Americans don't know much about China, in-depth, even though China is such a crucial business partner, rival, whatever.
The Secure 5G and Beyond Act is a clear step toward developing a nationwide gameplan to mitigate the threat posed by foreign-based 5G companies.
China has seen a great deal of economic progress. It's certainly rather of a miracle. The growing role of the market in the economy will force China to open up its political system over time and to move toward a more democratic society. So taken as a whole, the one real failure in this whole business has been Russia.
The reason why China forecasting has such a poor track record is that Westerners constantly invoke the model and experience of the West to explain China, and it is a false prophet. Until we start trying to understand China on its own terms, rather than as a Western-style nation in the making, we will continue to get it wrong.
The United States is paradise compared to China, Russia, Ecuador and Cuba, with regard to the press. And with regard to secrecy and transparency.
After all, China is our largest trading partner. As I said, country-wise, Russia trades the most with China. That is my first point.
In order to seize the opportunity presented by the acceleration of 5G, we plan to invest approximately €100 million in 2018 to meet near-term customer requirements for early 5G trials.
Even if your competitor is still small in size or weak, you should take him seriously and treat him as a giant. Likewise, even if your competitor is massive in size, you shouldn't regard yourself as a weakling.
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