China’s Digital Economy Is a World Leader, But It Still Faces Challenges
5. February 2018
China’s digital economy is a force to be reckoned with. The country now accounts for 42% of global e-commerce, boasts one-third of the world’s most successful tech startups, and conducts 11 times more mobile payments than the United States per year. However, as stated by this article published by the World Economic Forum (WEF), there are still major challenges ahead. In order to harness the digital economy’s potential while avoiding downside risks, China will need to build fair and inclusive social institutions that protect property rights and ensure efficient markets.