Chapter 248 December 8: Institutions Create Wealth, Leaders Don’t

After a period of pondering, I found a phenomenon: only the system can create wealth, the leader does not create wealth. Around the National Day in 2004, I went to North Korea with Wang Shi and Mr. Zhang (Zhang Yue, chairman of Broad Air Conditioning) for a week. After returning, I stayed in Beijing for a week, and then went to New York for a week.These three weeks have shown me that the gap between systems is more than 200 years. Feng Lun believes that China should establish a system that is rational, ruled by law, and capable of self-correction.China is on the right path of reform and opening up, but how long did it take to find this path? For 70 years, 70 years, China has been struggling to find this path. Seventy years later, China continued to accumulate wealth. If China had started to do this in the 1920s when national capital was booming in Shanghai, wealth would have accumulated better.But China didn't do that.If we find a rule to select leaders in China, and then everyone tries for 5 years, then China's wealth will account for far more than 5% of the world today.This is largely due to China's long-term lack of a stable and rational law that can correct errors.

Whether wealth can be accumulated depends on whether there is a good and complete legal system.This legal system allows all kinds of opinions and behaviors to be screened under the legal system, so as to ensure that the process of wealth creation and accumulation will not be interrupted.