The CoStone Reader Recommends Vol. 9



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Common Minimal Responsibility

By Qin Hui

    Common Minimal Responsibility analyzes doctrines, cultures and institutions and illustrates the meanings of putting a line in the sand regarding to the existing social problems. A bottom line is not a compromise. I can be up for liberalism and social democracy. If the conflict between liberalism and social democracy becomes acute, I will find a middle way and abide by my principles.



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Met Some People In Tears

By Han Meimei

    The fate of every person is touching. Readers can call it a biography or a love diary. Every page of this book is immersed in the sadness, loneliness and fragility of these famous figures in human history. Anyone who reads their stories will love, hate and sigh with them. Their works are pitiful and breathtaking.




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Winning the Loser’s Game

By Charles D. Ellis

    The go-to guide for investors seeking long-term success, Winning the Loser’s Game expounded the all-important lessons learned on investment horizon, opportunities, variety, costs and the abilities required for investment manager and investors. The book underlines that the best way to become a winner in the market is to stop trying to fight against the market. This book originates from Ellis’ an award-winning essay. He added more details and turned it into a candid, pithy, easy to read book on how to succeed as an investor.



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The Willpower Instinct

By Kelly McGonigal

    Informed by the latest research and combining cutting-edge insights from psychology, economics, neuroscience, and medicine, The Willpower Instinct explains exactly what Willpower is, how it works, and why it matters. It is also the first book to expound the science of self-control and how it can be harnessed to improve our health, happiness and productivity. Each chapter can stand on its own as something helpful, but taken as a whole, this book can be downright life-altering.



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Journeys of a Lifetime: 500 of the World's Greatest Trips

By National Geographic

    National Geographic selects the world’s most fabulous journeys for readers. From cultures to history, this book can offer the answers people are looking for when travelling. Journeys of a Lifetime also features 22 fun Top 10 lists in all sorts of categories, including the world's top 10 elevator rides, ancient highways, bridges to walk across, trolley rides, or steam trains. It provides guidance and suggestions on the appropriate looks for travels and worthy souvenirs, and tips for unexpected occasions. Readers can enjoy the beautiful sceneries in world from the words of this book.

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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