For the Chinese, taking risks is no stranger. It’s probably the reason the Chinese invented paper, the printing press, gunpowder, built multi-stage rockets centuries before anyone in the West did, and the cross bow—China’s list of revolutionary inventions is long so I’ll stop here. Many eventually appeared in the West where Westerners took credit for them. Now you know the truth.
In “What the Chinese Want even More than Oil or Gold”, the focus was on Chinese gambling and about illegal lotteries going legal and national. Since I married into a Chinese family, I understand what the author of this piece is saying, but the topic is more complex than that.
To learn more, I suggest you read the Investoralist, “Where Curious Minds Meet”. The Investorilist piece says that gambling is China’s Achilles heel.
I believe it is risk taking that brought China to greatness in the past. It’s when most Chinese stopped taking risks that China lost its spot as a regional superpower. It’s all about Face. Take a risk and win but make a mistake and get caught, you lose ‘Face’ and maybe your life too. Countries like China, Japan and Korea have a high suicide rate.
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