As Internet adoption reaches critical mass in China, it will help to unleash the economy’s productivity-growth potential. Indeed, the Internet can help China attain its goal of developing a sustainable economic model that can lift the country to high-income status.
BEIJING – It is a story that has played out worldwide. Internet adoption reaches critical mass, changing how business is conducted and creating billion-dollar markets for digital goods and services – and causing massive “creative destruction.” It is now China’s turn to experience this phenomenon – only, in China’s case, it is occurring amid broad economic transformation and rapid social change. The collision of these forces could fundamentally transform the world’s second-largest economy.
BEIJING – It is a story that has played out worldwide. Internet adoption reaches critical mass, changing how business is conducted and creating billion-dollar markets for digital goods and services – and causing massive “creative destruction.” It is now China’s turn to experience this phenomenon – only, in China’s case, it is occurring amid broad economic transformation and rapid social change. The collision of these forces could fundamentally transform the world’s second-largest economy.