Seriously? Are the Chinese for real, or just making this crap up to entertain themselves? The height of hubris and arrogance. If anything has been a failure so far, it's the Chinese exchanges establishing themselves as the 'cornerstone' of the bitcoin world. They will probably be completely out of business soon, while the Western exchanges continue to thrive. Sorry to rub salt in the wound, but the Chinese need to stop deluding themselves into believing that bitcoin won't survive without their involvement. We want the Chinese onboard just like we want the rest of the world onboard, but so far I haven't seen proper leadership from there.
I feel you did not finish reading that article. But I assume many others don't neither, so here is a teaser of
that article:
As a reporter, I enjoying the intellectual achievement of identifying hubris on both sides:) And I enjoy reporting it to both direction:) What you say about sillicon valley's indifference to Alibaba, world's biggest IPO? Not hubris? And put in consideration that Alibaba is a height of hubris themselves - that is, you (sillicon valley) don't shit he (alibaba) who doesn't shit anyone but Chinese government, and you don't shit Chinese government, ain't you (sillicon velley) a height of hubris? Quite so in Chinese eyes. If you talk ebay or amazone as mainstream (while in practise alibaba is bigger than these two competitor combined), they also would reply starting with "Are the Americans for real, or just making this crap up to entertain themselves?" Another example is Tencent. I won't keep listing.
Notice that Bitcoin Foundation did fail in the goal they vowed, the very line about "protect Bitcoin" - they did nothing useful in both Gox fiasco and China clash, but Bit Foundation did nothing useful to both case neither - in fact, Bit Foundation's effort on the Bitcoin 2014 Global Summit is counter-productive for Bitcoin in China, due to the political attention it attracted (they didn't see it coming). PBOC knows Bitcoin 2014 Global Summit is an event 'by the Chinese, for the Chinese, of the Chinese' and they know they are solving internal problems. No one wins the 'protect Bitcoin' competition.
The King of King of hubris is Chinese governmental newspaper "Global Times", but read the Chinese edition please for really good laughters, English edition caters English readership and English hubris and you just feel at home reading it, no entertainment. Too unfortunately Google Transalate doesn't handle Chinese acceptablly, and when human translated it all the funs are gone. I perhaps am one of the few to deliver Chinese in English without 'cater' for readership: I hope that provoking article opens the eyes of my English readers.