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INTERNET CAN HELP CHINA TO SUSTAIN ITS DEVELOPMENT

If China is willing to invest in the Internet, it will be able to reach a sustained boost up to 22% of the incremental GDP growth through 2025. Despite being ranked first in the list of countries by number of internet users, China has barely connect and its digital revolution is promising.

Recently McKinsey Global Institute (MGI) published a record illustrating how the digitalization of Chinese enterprises will be a driven force into shaping an economy based on productivity, innovation and consumption. Until now, in fact, China approach to e-economy has been focused mainly on consumer side, neglecting to support the take-off of businesses; this strategy has perfectly worked, contributing to the China’s rise that the world has experienced in the last decades, but to avoid a slowdown the country will have to aim for broader technology adoption so as to improve efficiency of its resources exploitation.

The benefits of going digital will be easily accessible, especially to small and medium-sized companies. Compared to the past, nowadays aspiring entrepreneurs can count on instant and direct consumer feedbacks, low cost of management, reduced transaction costs and the support of collaboration platforms that allow to grow their ideas.

To use this propitious occasion the Government is challenged on various and considerable fields: regulation of privacy protection, data sharing and big data, market liberalization and education reform to assure technical skills will surely be the most impactful decision.

 

The gLAWcal Team

LIBEAC project

Friday, 15 August 2014

(Source: Ecns.cn)

This news has been realized by gLAWcal—Global Law Initiatives for Sustainable Development in collaboration with the University Institute of European Studies (IUSE) in Turin, Italy and the University of Piemonte Orientale, Novara, Italy which are both beneficiaries of the European Union Research Executive Agency IRSES Project “Liberalism in Between Europe And China” (LIBEAC) coordinated by Aix-Marseille University (CEPERC). This work has been realized in the framework of Workpackages 4, coordinated by University Institute of European Studies (IUSE) in Turin, Italy.