https://www.youtube.com/watch?v=i5LqCAtNJJ4
- History inevitably repeats itself
- If a trend is occurring that you don't have a good idea of how it will pan out, it is more likely because you have not lived in a time where a similar situation had happened before and less likely because a similar situation had happened before
- Application of FinTech is to make it possible to leverage on assets that we have like the following:
Human Capital
- Social Capital
- Real Assets
- An economy built on talent versus an economy built on natural resources and tourism tends to grow faster
Singapore versus Jamaica
important to educate local population to ensure they do not become second class citizens in their own country to highly qualified expats
- Three Kingdoms - Cao Cao versus Yuan Shao
- Algorithms for decision making
Be wary of purely deriving algorithms through data mining and regression analysis.
The user of this algorithm will not be able to decipher causation versus correlation
- The training data available might be missing existing significant events
- The algorithm should instead be a derivation of your own thought processes. Computers/algorithms should be used to complement human decision making instead of replacing it.
- An environment of radical transparency is helpful towards supporting idea meritocracy
helps match individuals strong in one area with other individuals strong in complementary areas.
- A real world ensemble decision tree model
- On China
Main challenges the country face
Debt restructuring
- Economic restructuring - the need to shift away from export focused economy to domestic focused economy
- Develop capital markets
- Balance of payments
- Developments to date
debt being restructured
- economic restructuring happening dealing with state owned enterprises. Fast development of cutting edge industries. AI advancements comparable to US
- capital markets like Hong Kong depth of liquidity is impressive
- balance of payment is being dealt with effectively due to capable leaders and ability to control via levers unique to a strong central government
- Strong emphasis on kids education
- Reinforcing Integrity of law through eliminating corruption