Comments on: Entreprenuership: The Fourth Powerful Factor of Production http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/ for students and teachers of Economics Wed, 08 Feb 2012 23:39:55 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: kevinhuang http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2554 kevinhuang Fri, 07 Sep 2007 19:35:10 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2554 I agree that its really amazing how far the Chinese influence has reached, even into Africa! This demonstrates how in the market when people see an opportunity the can make money of they take it. I agree that its really amazing how far the Chinese influence has reached, even into Africa! This demonstrates how in the market when people see an opportunity the can make money of they take it.

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]]> By: jenniferchoi http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2299 jenniferchoi Fri, 31 Aug 2007 04:45:23 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2299 I think is really amazing how Chinese enterpreneurs actually brought in markets and competition into Africa. Barely anyone could have expected to bring in new markets into Africa. I think this article shows the importance of enterpreneurship is as a resrouce of production. I think enterpreneurship is actually the most important resource of all becuase with such creativity like this people could actually make huge amount of profits. But I do also feel uncomfortable about the fact that Chinese enterpreneurs are taking over local markets with their low prices. Chinese people are amazing to have brought into action such brilliant ideas, but they should at least try to respect the local economy. I think is really amazing how Chinese enterpreneurs actually brought in markets and competition into Africa. Barely anyone could have expected to bring in new markets into Africa. I think this article shows the importance of enterpreneurship is as a resrouce of production. I think enterpreneurship is actually the most important resource of all becuase with such creativity like this people could actually make huge amount of profits. But I do also feel uncomfortable about the fact that Chinese enterpreneurs are taking over local markets with their low prices. Chinese people are amazing to have brought into action such brilliant ideas, but they should at least try to respect the local economy.

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]]> By: Sunny Kim http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2291 Sunny Kim Fri, 31 Aug 2007 02:19:17 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2291 First, it was quite surprising to know that China has go all the way to Africa to set a new business leaving its huge and successive market. After reading this article, I could sense current status of Chinese economy and its markets, which I guess is already full and very competitive. But I agree with the people of Zambia. Africa, compared to the other continents, is a poor and weak continent. I think China shouldn't take everything away from those poor people. Moreover, I think it's better for Chinese to head Vietnam than Africa because all the western eyes are on Vietnam and it's also very close to China. I think I heard that Vietnam is a growing market like how Chinese market was before few years. One last thing, I guess now Chinese are everywhere. First, it was quite surprising to know that China has go all the way to Africa to set a new business leaving its huge and successive market. After reading this article, I could sense current status of Chinese economy and its markets, which I guess is already full and very competitive. But I agree with the people of Zambia. Africa, compared to the other continents, is a poor and weak continent. I think China shouldn't take everything away from those poor people. Moreover, I think it's better for Chinese to head Vietnam than Africa because all the western eyes are on Vietnam and it's also very close to China. I think I heard that Vietnam is a growing market like how Chinese market was before few years. One last thing, I guess now Chinese are everywhere.

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]]> By: Drew Venkatraman http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2270 Drew Venkatraman Thu, 30 Aug 2007 22:08:15 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2270 Wow. Well unlike everyone else. I did realize the Chinese were everywhere! I mean, we are in China! Although Africa is off the beaten path, I think these entrepreneurs deserve a pat on the back. Just for trying out Africa and getting lucky like our friend Yang, he has opened up a third world country to the billion Chinese people. Its obvious that the Chinese are smart business men, just look at how they have millions of dollars in the American economy. With this being said I don’t necessarily blame the Africans for getting angry, I would be scared and mad too if I felt so vulnerable to an outsider. I don’t think that they should be too worried yet because the Chinese have good intentions and although they are hard to compete with they are doing a good thing for these countries. Wow. Well unlike everyone else. I did realize the Chinese were everywhere!

I mean, we are in China! Although Africa is off the beaten path, I think these entrepreneurs deserve a pat on the back. Just for trying out Africa and getting lucky like our friend Yang, he has opened up a third world country to the billion Chinese people. Its obvious that the Chinese are smart business men, just look at how they have millions of dollars in the American economy. With this being said I don’t necessarily blame the Africans for getting angry, I would be scared and mad too if I felt so vulnerable to an outsider. I don’t think that they should be too worried yet because the Chinese have good intentions and although they are hard to compete with they are doing a good thing for these countries.

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]]> By: Michael Daily http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2268 Michael Daily Thu, 30 Aug 2007 21:50:25 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2268 I think that going into Africa is a pretty interesting idea for a Chinese entrepreneur. It is certainly brave, but nonetheless a smart idea. Who would have guessed that Chinese people would choose to bring businesses to Africa and that trade between China and Africa would be so high. Local business will obviously compete, and it is bad that he is taking business away from them, but I give him respect for staying in Africa. He has certainly taken a risk but risk taking can greatly help the economy. I think that going into Africa is a pretty interesting idea for a Chinese entrepreneur. It is certainly brave, but nonetheless a smart idea. Who would have guessed that Chinese people would choose to bring businesses to Africa and that trade between China and Africa would be so high. Local business will obviously compete, and it is bad that he is taking business away from them, but I give him respect for staying in Africa. He has certainly taken a risk but risk taking can greatly help the economy.

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]]> By: Trevor Sun http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2253 Trevor Sun Thu, 30 Aug 2007 17:58:07 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2253 It is very fascinating to know that Chinese people have started businesses up in Africa. I thought that it would be the last place a Chinese person would be seen at but apparently not. Now that successful businesses in Africa have started up and attracted more entrepreneurs it is only a matter of time before more nations come. Africa certainly has the capabilities to become a big market like South East Asia is at the moment but I believe that it will still be a long time before that ever happens. It is very fascinating to know that Chinese people have started businesses up in Africa. I thought that it would be the last place a Chinese person would be seen at but apparently not. Now that successful businesses in Africa have started up and attracted more entrepreneurs it is only a matter of time before more nations come. Africa certainly has the capabilities to become a big market like South East Asia is at the moment but I believe that it will still be a long time before that ever happens.

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]]> By: Jeewon Oh http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2207 Jeewon Oh Wed, 29 Aug 2007 22:43:24 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2207 I knew that a lot of Chinese people were spread out all over the world for business, but I never thought that they would reach Africa! I guess overpopulation in China is causing 750,000 people to go to Africa and other countries. Like Helen said, it is a good thing that Mr. Yang's entrepreneurship allowed all the resources in Africa that could be used to make icecream to be effectively used, instead of being neglected. However, it is unfortuante that the local business owners in Africa are competing with Chinese entrepreneurs. Since the Chinese products are being sold in Africa at such low prices, the price of local products would have to decrease in order to compete. Mr. Yang's success is inspiring a lot of Chinese entrepreneurs to go to Africa to seek their fortunes, but then how would the local businesses survive? I knew that a lot of Chinese people were spread out all over the world for business, but I never thought that they would reach Africa! I guess overpopulation in China is causing 750,000 people to go to Africa and other countries. Like Helen said, it is a good thing that Mr. Yang's entrepreneurship allowed all the resources in Africa that could be used to make icecream to be effectively used, instead of being neglected. However, it is unfortuante that the local business owners in Africa are competing with Chinese entrepreneurs. Since the Chinese products are being sold in Africa at such low prices, the price of local products would have to decrease in order to compete. Mr. Yang's success is inspiring a lot of Chinese entrepreneurs to go to Africa to seek their fortunes, but then how would the local businesses survive?

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]]> By: soyeon yoon http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2194 soyeon yoon Wed, 29 Aug 2007 19:48:07 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2194 The Africans has both bright view and negative view on increase of Chinese entrepreneurship, since the competition in the market is totally disadvantageous for themselves. Chinese cheap goods are preferred to those of western or African goods, and thus weakens the competition or eliminate competition. Chinese entrepreneur knows how to avoid taxes, and they produce the goods in the low cost so that they can sell them cheaper then other entrepreneurships. To keep their positions stable in African economy, Chinese entrepreneurship should be cooperative with other entrepreneurs so that the competition in the market economy enables them to produce better goods in lowest prices. The Africans has both bright view and negative view on increase of Chinese entrepreneurship, since the competition in the market is totally disadvantageous for themselves. Chinese cheap goods are preferred to those of western or African goods, and thus weakens the competition or eliminate competition. Chinese entrepreneur knows how to avoid taxes, and they produce the goods in the low cost so that they can sell them cheaper then other entrepreneurships. To keep their positions stable in African economy, Chinese entrepreneurship should be cooperative with other entrepreneurs so that the competition in the market economy enables them to produce better goods in lowest prices.

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]]> By: timothysun http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2179 timothysun Wed, 29 Aug 2007 17:33:36 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2179 I find that the interest in Africa was highly interesting and unexpected at the same time. If the Chinese truly have its famed entrepreneurship (hard word to spell :/), then they must have also realized the great potential in Africa. The continent's diverse environment allows for a greater usage of "land" (the resource), while the Chinese entrepreneurship is there. Land has become increasingly scarce as China faces overpopulation. Additionally, according to the article, labor is also present, so it all boils down to whether or not there is a great amount of capital; it is obvious that (in a Laplace-like style) that Africa has potential to develop into the next China. I find that the interest in Africa was highly interesting and unexpected at the same time. If the Chinese truly have its famed entrepreneurship (hard word to spell :/), then they must have also realized the great potential in Africa. The continent's diverse environment allows for a greater usage of "land" (the resource), while the Chinese entrepreneurship is there. Land has become increasingly scarce as China faces overpopulation. Additionally, according to the article, labor is also present, so it all boils down to whether or not there is a great amount of capital; it is obvious that (in a Laplace-like style) that Africa has potential to develop into the next China.

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]]> By: Kathie Lee http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2171 Kathie Lee Wed, 29 Aug 2007 15:38:23 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2171 I find that the expansion of the Chinese Market especially to Africa is both amazing but also unexpected. It makes me wonder what countries in the world hasn't had the influence and benefits from the Chinese Market. I'll be honest that I was surprised when I learned that entreprenuership is considered to be one of the powerful factors of production as it is distinctively different from the other factors. However, without entreprenuership, there would be no production. Entreprenuership is priceless, therefore I believe that the Chinese Market will successfully expand all around the world. I find that the expansion of the Chinese Market especially to Africa is both amazing but also unexpected. It makes me wonder what countries in the world hasn't had the influence and benefits from the Chinese Market.

I'll be honest that I was surprised when I learned that entreprenuership is considered to be one of the powerful factors of production as it is distinctively different from the other factors. However, without entreprenuership, there would be no production.

Entreprenuership is priceless, therefore I believe that the Chinese Market will successfully expand all around the world.

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]]> By: Jessica Chiang http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2145 Jessica Chiang Tue, 28 Aug 2007 23:53:52 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2145 I didn't realize there were so many Chinese in Africa. I mean, 750,000...wow! I must admit that I think going to Africa is a strange choice, but these entrepreneurs should be admired for taking such a huge risk; they have no idea if they will succeed there, they have a language and culture barrier, and they will truly have to keep their prices low in order to survive. Also, I think they are smart to go to developing countries in Africa because they have a chance of succeeding there, whereas if they went to America, their chances of succeeding would be much lower due to increased competition. The Africans are worrying (and they should be!). If the number of Chinese entrepreneurs continues to increase, then the Africans would be put out of work because they can't compete with such low prices. This will cause the unemployment rate to increase. However, if the Chinese were to build factories (as stated in the article), then they would be able to hire Africans, and both sides would benefit. I didn't realize there were so many Chinese in Africa. I mean, 750,000…wow!

I must admit that I think going to Africa is a strange choice, but these entrepreneurs should be admired for taking such a huge risk; they have no idea if they will succeed there, they have a language and culture barrier, and they will truly have to keep their prices low in order to survive. Also, I think they are smart to go to developing countries in Africa because they have a chance of succeeding there, whereas if they went to America, their chances of succeeding would be much lower due to increased competition.

The Africans are worrying (and they should be!). If the number of Chinese entrepreneurs continues to increase, then the Africans would be put out of work because they can't compete with such low prices. This will cause the unemployment rate to increase. However, if the Chinese were to build factories (as stated in the article), then they would be able to hire Africans, and both sides would benefit.

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]]> By: Annie Sung http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2141 Annie Sung Tue, 28 Aug 2007 23:15:36 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2141 So...I think we've established that it's surprising that there are Chinese entrepreneurs in Africa. I understand where some anti Chinese sentiment can arise from, especially if they are there to compete with Africans, instead of help them. It seems as though many entrepreneurs are in Africa purely through self interest, to maximize profit as much as they can. I feel that Chinese and Africans should work similarly to the circular flow model - the Chinese can profit from African consumers, but Africans can also better their financial issues through employment in Chinese factories. However, it's still relieving to know that in this still growing economic relation between China and Africa, there are still Chinese entrepreneurs like Mr. Yang who seem to genuinely care about the people in his host country. So…I think we've established that it's surprising that there are Chinese entrepreneurs in Africa.

I understand where some anti Chinese sentiment can arise from, especially if they are there to compete with Africans, instead of help them. It seems as though many entrepreneurs are in Africa purely through self interest, to maximize profit as much as they can. I feel that Chinese and Africans should work similarly to the circular flow model – the Chinese can profit from African consumers, but Africans can also better their financial issues through employment in Chinese factories. However, it's still relieving to know that in this still growing economic relation between China and Africa, there are still Chinese entrepreneurs like Mr. Yang who seem to genuinely care about the people in his host country.

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]]> By: kevin ma http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2135 kevin ma Tue, 28 Aug 2007 22:50:37 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2135 Wow... I'm surprised Chinese people would go to Africa to open businesses, but also smart at the same time since there is probably less competition. All the Chinese people that went to Africa to open businesses really took a big risk because starting an enterprise is very risky. If ones enterprise was to fail, the entrepreneurs could lose a lot or even all of their money. And in order to start it they have to dig into their own personal stack of cash. Like how Mr.Yang borrowed money from family members. Also to open a Chinese store which is filled with their culture is risky because there is a possibility it doesn't fit with the African culture and then the business would not be successful. Mr.Yang had the performed the three fucntions for being an entrepreneur. He had an innovation, which was to ice cream. He had an organization, opening the factory and hiring workers. And last but not least he took the risk of going to Africa with some money and opening the business. Wow… I'm surprised Chinese people would go to Africa to open businesses, but also smart at the same time since there is probably less competition. All the Chinese people that went to Africa to open businesses really took a big risk because starting an enterprise is very risky. If ones enterprise was to fail, the entrepreneurs could lose a lot or even all of their money. And in order to start it they have to dig into their own personal stack of cash. Like how Mr.Yang borrowed money from family members. Also to open a Chinese store which is filled with their culture is risky because there is a possibility it doesn't fit with the African culture and then the business would not be successful.

Mr.Yang had the performed the three fucntions for being an entrepreneur. He had an innovation, which was to ice cream. He had an organization, opening the factory and hiring workers. And last but not least he took the risk of going to Africa with some money and opening the business.

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]]> By: Taka http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2126 Taka Tue, 28 Aug 2007 21:09:59 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2126 Ahh the chinese spreading like a plauge... (don't take offence). It is interesting to see that Chinese entrepreneurs are located in Africa and it is a very smart move but this may stray off a bit from entrepreneurship but I remember reading a news article about China seeking nuclear power in African nations. With China growing so rapidly, there is no surpise here that China is seeking energy resources from otehr nations. On the outside its very positive to establish trade with African nations who are desperate for trade and economic growth however in exchange for nuclear power, china is not only exchanging money but also weapons. Now I am not too sure to what extent these weapons are used just for secuirty or for corrupt means but maybe some one should look more into this. I could be wrong. Ahh the chinese spreading like a plauge… (don't take offence).

It is interesting to see that Chinese entrepreneurs are located in Africa and it is a very smart move but this may stray off a bit from entrepreneurship but I remember reading a news article about China seeking nuclear power in African nations. With China growing so rapidly, there is no surpise here that China is seeking energy resources from otehr nations. On the outside its very positive to establish trade with African nations who are desperate for trade and economic growth however in exchange for nuclear power, china is not only exchanging money but also weapons. Now I am not too sure to what extent these weapons are used just for secuirty or for corrupt means but maybe some one should look more into this. I could be wrong.

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]]> By: Kristie Chung http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/comment-page-1/#comment-2113 Kristie Chung Tue, 28 Aug 2007 19:32:24 +0000 http://welkerswikinomics.com/blog/2007/08/21/entreprenuership-the-fourth-powerful-factor-of-production/#comment-2113 I'm also surprised to read that there are Chinese entrepreneurs in Africa. I think it was smart for Yang to invest in producing ice cream in Africa, instead of investing in other countries with more well-established markets and competing with many other ice-cream makers. Entrepreneurs must not be afraid to take risks, and should carry out their "big ideas," and if successful, they like Yang will make a lot of profit. However, the fact that many Chinese who go to Africa not only bring their own workers, but also send their money home, may prove to harm the African economy. It is essential for there to be circular flow in the economy, and if the Chinese do not put the money they earn back into the economy, it would most definitely hurt the economy in Africa. I'm also surprised to read that there are Chinese entrepreneurs in Africa. I think it was smart for Yang to invest in producing ice cream in Africa, instead of investing in other countries with more well-established markets and competing with many other ice-cream makers. Entrepreneurs must not be afraid to take risks, and should carry out their "big ideas," and if successful, they like Yang will make a lot of profit.

However, the fact that many Chinese who go to Africa not only bring their own workers, but also send their money home, may prove to harm the African economy. It is essential for there to be circular flow in the economy, and if the Chinese do not put the money they earn back into the economy, it would most definitely hurt the economy in Africa.

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