Letter from Nikkei Asia's editor: China's tech trap
Hello from Tokyo. Joseph Schumpeter was one of the most famous economists of the 20th century. He is known for characterizing the core of capitalism as an evolutionary cycle of creative destruction, or innovation. His theory attracted many Japanese scholars, and Heita Kawakatsu, the professor turned governor of Shizuoka prefecture, was one of them. (Some people say that this is possibly because his own name, Heita -- which can also be read as Peta -- is similar to Schumpeter's.)
