US Press: pick of the papers

The ten must-read opinion pieces from today's US papers.

1. My plan to turn around the U.S. economy (USA Today)

Initiative of entrepreneurs, not government, is key to putting people back to work, writes Republican presidential hopeful Mitt Romney.

2. The President's Speech Impediment (Wall Street Journal)

The grander the stage, the smaller Mr. Obama comes across, argues William McGurn.

3. When the towers fell (New Yorker)

David Remnick's commentary on the tenth anniversary of the September 11 attacks.

4. Teachable moment (Daily News)

It's the day after Labor Day. Do you know where your children are? asks Anthony DelMundo. They're not where they belong: in class.

5. Stop bashing government workers (Washington Post)

Public workers shouldn't be scapegoats, says Katrina vanden Heuvel.

6. Three essentials for the deficit panel's proposal (Washington Post)

Democratic congressman James E. Clyburn outlines the goals for the debt supercommittee.

8. And now a word from a job creator (Washington Times)

Even Keynes would think Obama's bunch are chumps, writes Mike Whalen.

9. For the Economy, the Real Slam Dunk Is Debt Forgiveness (Bloomberg)

U.S. homeowners don't need another reduction in their mortgage payments, argues this editorial. What they need is a break on their debts.

10. Dick Cheney misremembers the Iraq war (Chicago Tribune)

Dick Cheney and the Bush administration found it was wrong about WMD. Given time, the inspectors could have told them that, claims Steve Chapman.

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The age of China's female self-made billionaires – and why it could soon be over

Rags to riches stories like Zhou Qunfei's are becoming less common.

Elizabeth Holmes, 33, was the darling of Silicon Valley, and the world’s youngest self-made female billionaire. Then, after a series of lawsuits, the value of her healthcare firm plummeted.

Holmes might have abdicated the billionaire crown, but another tech queen was ready to take it. Only this time, the self-made female billionaire was not a blonde American, but Zhou Qunfei, a 47-year-old from China. She dropped out of high school and began working at a watch lens factory as a teenager. In 1993, when she was in her early twenties, she founded her own company. Her big break came ten years later, when Motorola asked her to develop a glass screen for smartphones. She said yes.

Zhou is in fact more typical of the SMFB set than Holmes. Of those listed by Forbes, 37.5 per cent come from China, compared to 30 per cent from the United States. Add in the five SMFB from Hong Kong, and the Middle Kingdom dominates the list. Nipping at Zhou’s heels for top spot are Chan Laiwa, a property developer who also curates a museum, and Wa Yajun, also a property developer. Alibaba founder Jack Ma declared his “secret sauce” was hiring as many women as possible.

So should the advice to young feminists be “Go East, young woman”? Not quite, according to the academic Séagh Kehoe, who runs the Twitter account Women in China and whose research areas include gender and identity in the country.

“I haven’t seen any of these self-made female billionaires talking about feminism,” says Kehoe. Instead, a popular narrative in China is “the idea of pulling yourself up by your boot straps”. So far as female entrepreneurs embrace feminism, it’s of the corporate variety – Sheryl Sandberg’s book Lean In has been translated into Mandarin.

In fact, Kehoe believes the rise of the self-made woman is down to three historic factors – the legacy of Maoist equality, and both the disruption and the opportunity associated with the post-Mao economic reforms.

Mao brought in the 1950 Marriage Law, a radical break with China’s patriarchal traditions, which banned marriage without a woman’s consent, and gave women the right to divorce for the first time.

In Communist China, women were also encouraged to work. “That is something that was actively promoted - that women should be an important part of the labour force,” says Kehoe. “At the same time, they also had the burden of cooking and cleaning. They had to shoulder this double burden.”

After Mao’s death, his successor Deng Xiaoping began dismantling the communist economy in favour of a more market-based system. This included reducing the number of workers at state-owned enterprises. “A lot of women lost their jobs,” says Kehoe. “They were often the first to be laid off.”

For some women – such as the SMFBs – this was counterbalanced by the huge opportunities the new, liberal economy presented. “All this came together to be a driving force for women to be independent,” Kehoe says.

The one child policy, although deeply troubling to feminists in terms of the power it dictates over women’s bodies, not to mention the tendency for mothers to abort female foetuses, may have also played a role. “There is an argument out there that, for all of the harm the one child policy has done, for daughters who were the only child in the family, resources were pushed towards that child,” says Kehoe. “That could be why female entrepreneurs in China have been successful.”

Indeed, for all the dominance of the Chinese SMFBs, it could be short-lived. Mao-era equality is already under threat. Women’s political participation peaked in the 1970s, and today’s leaders are preoccupied with the looming fact of an aging population.

“There has been quite a lot of pushback towards women returning to the home,” says Kehoe. Chinese state media increasingly stresses the role of “good mothers” and social stability. The one child policy has been replaced by a two child policy, but without a comparable strengthening of maternity workplace rights.

Meanwhile, as inequality widens, and a new set of economic elites entrench their positions, rags to riches stories like Zhou Qunfei's are becoming less common. So could the Chinese SMFBs be a unique phenomenon, a generation that rode the crest of a single wave?

“Maybe,” says Kehoe. “The 1980s was the time for self-made billionaires. The odds aren’t so good now.”

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.