China has the ingredients that entrepreneurism needs for success:

1. Intellect and great ideas. Today, it’s easier than ever to develop great ideas, and they can ferment anywhere in the world.

2. Access to capital. China has a huge amount of capital, and it’s increasingly investing at home.

3. A market for your goods or services. China is a giant market, and its people are increasingly prosperous. But China also has access to the global market. These days, doesn’t matter where a technology is developed; it can be used anywhere.

4. Talent and human resources. Those multinationals in China created a generation of educated, capitalism-minded workers. Now, China is one of the best places to find new hires, and they are increasingly willing to leave the safety of a multinational for the opportunity at a start-up. This is a crucial difference from how things used to be.

5. A sense of hunger, enthusiasm and confidence. This is the feeling we had in Silicon Valley maybe 10 or 15 years ago. The sense I get when I’m in China is one of effervescent enthusiasm about what is possible. Alibaba gave millions of people a taste of what success feels like. All you need is one success to make you start thinking you can do it, too, and with Jack Ma and Alibaba, you have a million people who’ve begun to think maybe they can do the same thing.

6. China’s very large 19-35 productive age population count.

-- The Washington Post on March 5, 2015