'A closed China willfully narrows its access to the global pool of professional talent.'
This is the statement made in the linked article by the Economist. I don't by it! Here's why.
There's scores of exceptional individuals who want to work remotely either on a freelance basis or in their own business. However, western corporate interest have been slow in adopting this collaboration model. China can have the pick of the litter of global talent if its industries beat the west in embracing the remote collaboration model.
It's an interesting phenomenon though, legacy western states and their industries appear to be desperately trying to attract exceptionally talented individuals at the moment. All with little success I might add. The internet has made migration unnecessary for many professions and most professionals, particularly from South Asia, aren't interested in migrating to the west like they use to.
This has caused a panic in the legacy western jurisdictions, with some firms like Goldman Sachs and Ernest and Young ditching university degrees in their entry requirement criteria among other things.
The power of the legacy west, especially the U.S., has rested on their ability to control and exploit the best of the world's resources, that includes human resources. Exceptional individuals from the world over have been lured to legacy western states in the past out of necessity. They have contributed to the wealth and power of the legacy west through industry and invention. These have produced the revenue base which supports the welfare and warfare pillars of the legacy western society.
The world's exceptionals are loathed to migrate to the west today and this presents and opportunity for China and other jurisdictions who need exceptional talent yet don't want to upset their native ethnic balance. Remote work and telecommuting is the solution for most of their needs.
There's a huge opportunity here for the first movers in this space, be it China, Russia, India, KSA, etc. The first mover will command the loyalty of the world's remote workers and exceptional individuals.
Do you see the logic? :-)
Attribution: This content was originally posted on the 5th March, 2017. https://plus.google.com/+MikeHydes/posts/LcTjZNZe5YX