Looking back in the rearview mirror, the judgments of the big shots from back then about the future were almost as nonsensical as the ramblings of a madman in his sleep. Why were they so wrong? Because what they said lacked logic.

What is logic? It refers to what you call "industrialization" and "productivity." Under what circumstances can they be formed?

The biggest driving force is still the demand side. With demand, the supply side, at least in China, does not need to be worried about; there are people and money to make it happen. The Alibaba of 2014 and the later Pinduoduo represent the demand side.

Europe took the wrong approach, focusing on the supply side. Without the demand side, no matter how clever the supply side is, it is just a fun novelty. It's somewhat like Japan's robots back in the day, which were well-received but never commercially successful.

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