So after giving up on the book and I had the great honor to be able to join Kleiner Perkins about a year ago, and to work through venture capital on the innovative side, and to try to find some innovations that could address what I saw as some of these big problems.

In 2007, the economists Dwight Perkins and Thomas Rawski estimated that, in order for China s economy to maintain a 9 growth rate and a 25 35 investment ratio until 2025, it would need to maintain an annual TFP growth rate of 4.3 4.8 . Given that China s TFP growth has averaged 4 for more than 30 years, and is likely to slow in the coming decade, this scenario is improbable.