From the Heyday of Emperor Qianlong to Silicon Valley Wonder

 From the Heyday of Emperor Qianlong to Silicon Valley Wonder

A backward industrial structure may lead a very advanced economy towards decline, but an advanced industrial structure may lead a backward economy to prosperity!

Let’s turn our eyes to the 1980’s. Japanese economy shocked America violently,plunging America into a great panic, and every American was worrying about “Japan’s possible purchase of America”. For a time, economists all over the world were lost in the study on the Japanese mode,crying up Japan’s wonder. However,in a short period of one decade, everything changed. Japan’s economy got into a period of wandering and sagging, whereas America worked a “new economy” wonder lasting as long as 110 months, which not only released the terrible alarm of that year, but also consolidated its throne as the overlord of global economy. What helped US economy turn defeat into victory was just their industrial structure transformation! US economy underwent the greatest industrial transformation in the century:Manufacturing industry has shifted to hi-tech industry,the former manufacturing industry has almost degenerated as an appendage of economy, whereas the high-grade technology industries represented by network technology and information technology have become the greatest powers boosting the sustained growth of American new economy. “The Silicon Valley Wonder” has replaced “The Japanese Wonder”. Yet,Silicon Valley is merely a valley 48 km long and 16 km wide in America, even smaller than a county, but its annual production value is equivalent to 1/4 of China’s GDP! The wealth in astronomical figures generated from it has shocked the whole world, thus, Silicon Valley has become a target of worship and imitation, hence, Singapore, Japan, Taiwan, Hong Kong, Korea, China and so on are vying with each other to build up their own “Silicon Valley”.

History has proved repeatedly:Transformation of the industrial structure and change of the leading industry play a decisive role in economical development!

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