Moreover, as everyone knows, look -- it's energy, not oil, which counts. And higher oil prices mean a greater incentive to invest in energy R and D. 此外，正如大家都知道，能源，而不是石油，是最重要的。而且，油价越高，投资新能源研发的动力越大。
But what we quickly found was 但是百度 that we were still losing money. 仍然在亏损 Although we probably signed up the portal companies that 尽管占中国搜索流量超过80%的门户网站 represent more than 80% of the Chinese search tra
You know, Baidu was founded at the beginning of 2000, 百度成立于2000年初 and quickly NASDAQ reached its historical high of 5,000. 不久，纳斯达克指数创下5000点的新高 I remember it was March of 2000. 那是2000年的3月 Then it dropp
Communication walls, I don't have to tell you -- the Internet -- have come tumbling down. 通信壁垒，不用我多说，随着互联网的出现也已不复存在了。 And of course the iron curtains, political walls have come tumbling down. 当然还有铁幕的瓦
Alright. Well if larger markets increase the incentive to produce new ideas, how do we maximize that incentive? 好。那么，如果市场越大，创新的动力越大，我们如何能最大限度地发挥这一动力呢？ It's by having one world market, by globalizing t
Here is GDP per capita from 1900 to 1929. Now let's imagine that you were an economist in 1929, trying to forecast future growth for the United States, 这是人均国内生产总值从1900年到1929年。让我们想象一下，在1929年，如果你是一位经济学家
Now you can see some of the reasons why I'm optimistic. Globalization is increasing the demand for ideas, the incentive to create new ideas. 现在你可以理解我为什么对此充满信心。全球化在增大对创新的需求，这是创新的动力。 Investments in educ
The first half of the 20th century was an absolute disaster in human affairs, a cataclysm. 20世纪的上半叶是人类历史上一个彻底失败的阶段，那是一场浩劫。 We had the First World War, the Great Depression, the Second World War and th
And we can see the tragedy of Africa in the first few bars here. Growth was negative. 我们可以看到非洲的悲剧就从这个条形图的前几个条。负增长！ People were actually getting poorer than their parents, and sometimes even poorer tha
But consider the following: if the world as a whole were as wealthy as the United States is now 但是，请大家考虑一下：如果整个世界都象现在的美国一样富裕， there would be more than five times as many scientists and engineers contr
And to explain why this is so, I have a question. 为了解释为什么会是这样，我先问一个问题。 Suppose that there are two diseases: one of them is rare, the other one is common, but if they are not treated they are equally s
