Business Daily - China's Silicon Valley
Live from Shanghai, we ask if China can ever recreate Silicon Valley's technology success. While across the Pacific, we look at what California is doing to stay one step ahead.
Simon Jack in Shanghai asks if China can ever recreate Silicon Valley's technology success. Meanwhile, across the Pacific Jonny Dymond looks at what California is doing to stay one step ahead of the United States' great trading rival. Saeed Amidi was California landlord to giants such as Paypal and Google when they were just starting out. Cannily he took a stake in many of his tenants' companies and has now set up a tech home for the next generation of innovators. Dr Scott Rozelle, an expert in China and economic development at Stanford University in California, says the education system in the world's second-biggest economy could be stifling innovation. He says the college entrance exam in China -- the one and only deciding factor for who goes to college -- is part of the problem. But China is aiming to see if it can beat California at its own game. Its technology park in Zongguancun near Beijing is next door to its two best universities - Simon Jack went along to find out more. Plus, Shanghai is home to 24 million people and its banking and finance industry. The government wants this to be a truly global financial centre. Keeping an eye an all that is Dr Fang Xinghai, former World Bank economist and now director general of its Financial Services office - the city watchdog.