The CoStone Reader Recommends Vol. 8



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Deng Xiaoping and the Transformation on China

By Ezra F. Vogel

    Never did a person have a greater impact on China’s history, the world history and individual destiny than De Xiaoping. In order to decode modern China and individual destiny, the political career and logics of Deng Xiaoping should be on the top agenda. Ezra Vogel puts a decade of painstaking effort in Deng Xiaoping and the Transformation on China and depicts a comprehensive picture of the twists and turns in Deng Xiaoping’s life and the reform and opening up of China. Vogel offers astute and absorbing analysis on Deng Xiaoping’s personality and governing style and unique and all-rounded interpretation on China’s reform and opening up. This is a meticulously researched book on the politics and transformation of the world’s oldest civilization and a monumental work of China’s boldest strategist.



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Where Does Chinese People's Anxiety Come From?

By Mao Yushi

    Where Does Chinese People's Anxiety Come From? is the just published book of the prize winner of the Milton Friedman Prize for Advancing Liberty, Mao Yu Shi. In this book, Mr. Mao expounds the “snail house” in China, disentangles the root causes for the gap between the haves and have nots, and prioritize people’ interest. Sharp as he always be, he uttered three questions about the government, society and livelihood. Mr. Mao provides a wealth of cases and data to portray and analyze the mental state and lives of modern Chinese.



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Philosophy and Life

By Fu Peirong

    Philosophy can be nonsense without life, and life can be dark without philosophy. Philosophy is not a privilege of elites, but a universal research on life and the world. It can be both intriguing and boring, which depends on the one who reads it. In Philosophy and Life, openness and curiosity are the basics of philosophy researches. Love and wisdom form the nature of mankind. The destination of the book is widening the cultural horizon of people, cultivate their independent thinking and help them take a righteous stand on certain issues.



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New Business

By Kenichi Ohmae

    Kenichi Ohmae offers astute insights on innovation, enterprise management, entrepreneurship and mental hurdles. He has cultivated 600 successful entrepreneurs with the methods in this book. New Business, for the first time, pieces together Kenichi Ohmae’s instructions on entrepreneurship for every reader who desires for a breakthrough in career.

Rewritten by: Luo Xinying, Edited by: Du Zhixin, Wei Yiyi

The year 2019 marks the fortieth anniversary of China’s Reform &Opening-Up, once again, we meet at the turning point of history. What’s the next step for the game, is there any clear guidance? The answer is affirmative.

Our country is enjoying a good momentum of development, which does not come from the Washington Consensus nor the Beijing Consensus. China’s experience has proved that both the visible hand and the invisible hand are crucial: the visible hand, stands for the government-led reform, and would yield benefits for reform and opening up; the invisible hand, stands for the Marginal Power represented by the private sector, and would improve economic efficiency and tax collection, create jobs and employment opportunities.

Provided that we want to protect and expand the benefits form reform, three simple but mandatory agreements are to be made and followed: No.1 Private ownership must be recognized, protected and treated equally with public ownership constitutionally, both ownerships are scared and inviolable;No.2 Make further clarification of the principal position of market economy, “deepen economic system reform by centering on the decisive role of the market in allocating resources”, as President Xi addressed in the third Plenary Session of the 18th CPC Central Committee;No.3 Implement the guiding principles of “comprehensively promoting law-based governance” of the fourth plenum. The rule of law is essential for economic growth, irreplaceable to protect private ownership, and necessary to encourage innovation and entrepreneurship.

Above are three rules for us to avoid falling into the Middle-income Trap. Assuming that we are breaking systematic barriers to private enterprises’ participation in market economy, and boosting innovation and entrepreneurship of our society, then we are heading towards a promoting direction. We are marching in the path of light, regardless of the ups and downs of Sino-US relationship, the drop in GDP growth rate, or the monetary policy.

These principals also apply on knowing how better to run a business: don’t be hedged by rules and regulations at the beginning, pay more attention to your survival, and you’ll learn more when you start your second business.

For many years, Huawei has been the only Chinese company on the list of the Top 50 R&D Spenders. Regardless of the economy and its income, what Huawei has been doing is investing in its future, dedicated to R&D, continuously and resolutely. This provisional work underscores Huawei’s accomplishments, making Huawei anindustry leader.

So, there are standard answers on how to run a company,which could be summarized as concentration and professional dedication, continuous investment on innovation and trying harder in R&D. Entrepreneurship is also important, every single company needs entrepreneurs to push aside all obstacles and difficulties, to implement strategies and ideas. We, as investors, are destined to look for such outstanding entrepreneurs and their companies, invest in them and partner with them.

At this key point of history, a country, a company, or asingle individual, will all need to find the right path. Four decades after the Reform and Opening-up, it’s time to learn from our experience and stop “wadding across


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