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b'We have a special investigation from Professor Ed, who takes us on a journey through the history and development of innovation policy and venture capital in China. We begin with the massive government Torch Program that, starting in the 1980s, set about engineering a national innovation sector on a scale never seen before. Then in the 1990s we see China begin liberalizing its markets, opening up for different forms of investment both domestic and international. But doing so in its own unique way \\u2013 not in the style of structural adjustment shocks but as carefully controlled market reforms.\\n\\nSome stuff we reference: \\n\\u2022\\u2022\\u2022 Steve Blank\\u2019s series on VC in China: https://steveblank.com/2013/04/10/china-the-sleeper-awakens/\\n\\u2022\\u2022\\u2022 OECD report on China\\u2019s innovation policy: https://www.oecd.org/science/inno/39177453.pdf \\n\\u2022\\u2022\\u2022 CIGI report on China\\u2019s Experience in Building a Venture Capital Sector: https://www.cigionline.org/static/documents/documents/no.248_0.pdf \\n\\nSubscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills \\n\\nGrab fresh new TMK gear: bonfire.com/store/this-machine-kills-podcast/ \\n\\nHosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)'