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"Some geniuses in the internet industry created miracles, but that does not tell the whole story," said Chen. "Business has its own rules. Before you start up, you have to know how to produce products, how to sell them, how to manage a company. Those lessons you cannot expect a fresh graduate to know."
It is up to other institutions — notably, Congress, courts and media — and the citizens at large now to do so.
The state-sponsored purchasing managers' index fell from 50.8 in October to 50.3 in November, the lowest reading since March. Any level above 50 indicates expansion.