The obvious advantages of a licensing agreement are that it enables a company to monetize the value of its technology, does not expose the company to the difficulties of managing a business in China, and does not require a capital investment.
The economic contribution of his essay is that it represents the thesis advanced by German economist Georg Friedrich Knapp in The State Theory of Money (1924), an expose advocating the Chartalist approach to monetary theory claiming that money must have no intrinsic value and strictly be used as tokens issued by the government, or fiat money.