On September 15th, at the 2010 Summer Davos Forum held in Tianjin, Lee Kaifu, former Google China president and now the president and CEO of Innovation Factory, suggested that it is very unlikely that China will foster entrepreneurial success with the likes of Apple Inc. and Google Inc anytime soon. "It is unlikely for at least 50 to 100 years. China needs to reconfigure an entirely new way of educating their young before something like this can be achieved," Lee is reported as saying.

"Most of us dream of becoming the next Apple and the next Google," Lee continued, "But the next Apple and Google won't be coming out of China, nor will they be from Asia. It is more likely that the successors to these innovative companies are going to come from America. Their entrepreneurs have been taught to think freely and look beyond the obvious for better innovation. America has always been a leader over other countries in this respect."

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Keywords: Lee Kaifu China entrepreneurial success unlikely former Google China president 2010 summer davos Lee Kaifu China education system lack of innovation