[Sustainable,Industrial,Development,Requires,Innovation,and,Patience]and

　　China’s industrial development has been an undeniable success, garnering huge benefits for hundreds of millions in just over thirty years. But behind the successes lie serious obstacles. A business culture of impetuousness and flamboyance is one example. Furthermore, instead of focusing on quality and innovation, businesses spend too much time and effort lobbying for preferential policies and cashing in on capital operation, speculation and IPOs. They strive for unrealistic and stupendous overnight success. The emergence of the Chinese billionaire has set up a model for others to follow – short-term performance, rapid expansion and quick wealth are replacing a culture that was centered on attention to detail, employee devotion and managerial commitment.
　　Industries cannot simply opt out of basic laws of gradual growth and expansion. Progress cannot be made without years of difficult, oft-grueling research and development. Emerging industries in particular must refrain from being too hasty. Yet in China, there is the entrenched belief that an industry can be created out of thin air given enough investment. The results of this kind of investment, however, tend to be excess capacity, falling prices, huge losses and anti-dumping and anti-subsidy lawsuits from abroad.
　　Chinese manufacturing is characterized by large capacity and low-level technology. China’s weaknesses are concealed by rapid quantitative industrial expansion without any compatible improvement in quality. There is much work to be done before China achieves the levels of delicate manufacturing, managerial expertise and overall sophistication required for China to become truly developed.
　　Early-stage, large-scale development has indeed been instrumental in China’s rapid industrialization. But high profitability in commercial sectors such as trade, finance and real estate has drawn away resources from other industries, concentrating them in these few highly lucrative arenas.
　　China’s long-term success cannot be assumed as a matter of course. Some countries in modern history have indeed suffered decline even after an extended period of development. This happened usually in countries without a modern manufacturing base, a conducive culture, or the national systems and mechanisms needed to support the transition from developing to developed status. China’s ability to avoid this sad fate will depend on whether my countrymen have enough humility, dedication, innovation, and attention to detail going forward.
　　There is cause for optimism although the next steps will not be easy for China. We need only look to the millions of Chinese entrepreneurs who are dedicated to improving the quality of their employees, their products, and themselves. They are the fabric of any modern industrial civilization and the basis of the social mindset that will in time allow China to emerge as a competitive, modern industrial nation.