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Since the outbreak of the COVID-19 pandemic, the Chinese government has been focusing its efforts on fostering the digital economy by emphasizing digital technologies such as artificial intelligence, cloud computing, big data and 5G.President Xi Jinping stressed the need to expand artificial intelligence and 5G technologies in response to COVID-19, noting “the proliferation of COVID-19 is a challenge and opportunity for industrial development.”According to the China Institute of Information and Communication, China's digital economy accounted for about 34.8 percent of its gross domestic product, at 31.3 trillion CNY as of 2018. In addition, from 2016 to 2018, China's digital economy continued to grow at a rate of more than 20 percent per annum for three years. In addition, the Chinese digital ecosystem is expected to further expand as various nonface-to-face business models such as digital healthcare, digital education, and telecommuting grow due to the COVID-19 pandemic. This paper aims to identify the development trends in China's digital economy since the outbreak of the pandemic and analyze the Chinese government's support policies and new business models in the digital service sector and present the implications carried by the results of the analysis. This study will also propose new cooperation measures between Korea and China.
The coronavirus pandemic that has rocked China since December 2019 has posed a gruelling test for the resilience of the country’s national economy. Now, as China emerges from its Covid-induced “recession”, it feels like the worst is behind it. How did China manage to come out almost unscathed from the worst crisis in over a century?This Report examines how China designed and implemented its post-Covid recovery strategy, focussing on both the internal and external challenges the country had to face over the short- and medium-run.The book offers a comprehensive argument suggesting that, despite China having lost economic and political capital during the crisis, Beijing seems to have been strengthened by the “pandemic test”, thus becoming an even more challenging “partner, competitor and rival” for Western countries.
China’s digital economy has expanded rapidly in recent years. While average digitalization of the economy remains lower than in advanced economies, digitalization is already high in certain regions and sectors, in particular e-commerce and fintech, and costal regions. Such transformation has boosted productivity growth, with varying impact on employment across sectors. Going forward, digitalization will continue to reshape the Chinese economy by improving efficiency, softening though not reversing, the downward trend of potential growth as the economy matures. The government should play a vital role in maximizing the benefits of digitalization while minimizing related risks, such as potential labor disruption, privacy infringement, emerging oligopolies, and financial risks.
Especially with the emergence of the digital economy in the last two decades, unprecedented changes in technology have come to the fore. Technology-induced unemployment has spread all over the world because developments in digitalization and automation reduced the need for human in all business lines. Digital economy has also shown its effects as changes in the lifestyles. Therefore, it called new ecosocial system. However, beyond the new ecosocial system, humanity awaits a new system as post-digital ecosystem. Most probably this transition would occur in an agonizing way. In the post-digital ecosystem, production methods are changing radically, and thus, due to the recent advancements in artificial intelligence technology, machines increasingly take over the jobs of humans. The steady upward trend in unemployment has made economic inequality a chronic problem in the society. The pandemic has the role of a catalyst that accelerates the emergence of the destructive effects of digital economy and augments these effects. After the pandemic, the post-digital ecosystem will rise from the ruins of the collapsing capitalist system. The purpose of this article is to attract attention to the future economic problems within the context of the pandemic.
This book presents a rich selection of 36 real-world cases on how organizations in China explore the new growth pattern, business model innovation, and digital transformation in digital era. The topic of cases varies from digital marketing and Internet brands, the growth of digital platforms, digital transformation and the industrial Internet of things, strategies for cross-border e-commerce companies, and business model innovation in digital era, etc. These cases stem from a diverse set of industry sectors, reporting on best practices and lessons learned. The book shows how organizations strive to find new ways to develop and create new paths to grow in a digital world and shares essential practical insights into digital economy. All cases are presented in a standardized structure in order to provide valuable insights and essential guidance for practitioners, scholars as well as general readers.
The book studies the impact of COVID-19 on the Chinese economy and the country's response to policies. It examines various aspects of national macroeconomic operations, industrial shocks, changes in financial markets, regional economic order, public governance challenges. It also analyzes changes in the world economy while integrating economic, financial, industrial, and environmental disciplines.At the macro level, the book emphasizes counter-cyclical responses, with an emphasis on comprehensive measures and precise efforts. It highlights differentiated development strategies for industries and promotes structural adjustment and supply-side reform. At the micro-level, the book emphasizes enterprises' resumption of work and production and supply chain management. The book promotes the concept of integration, stressing that China's economy was and is sufficiently resilient and the importance of maintaining and improving public confidence. At the same time, it attaches importance to prescribing the correct remedies for shortcomings, strengthening weaknesses, confronting the obstacles and difficulties in economic development, and restoring social order. The studies are not restricted to the facts but also focus on transforming and upgrading a modernized socialist economy and governance in the long term.
COVID-19 has made differential impacts on countries and communities around the world. China, where COVID-19 started, has developed and utilized different types of technologies, including both traditional and disruptive technologies, to address the pandemic risks. Also, there have been many innovations in applying technologies in different contexts during the pandemic as well as in the post-pandemic recovery and preparedness aspects. This book covers some of these technological developments as well as the governance mechanisms for developing a technology and innovation ecosystem in a post-COVID-19 context in China. The book also explores the experiences and lessons learned from different types of technologies and their implementation in the post-COVID-19 period and highlights how they can be useful to prepare for future calamities.
From start-up founders in the Chinese equivalent of Silicon Valley to rural villages experiencing an e-commerce boom to middle-class women reselling luxury goods, the rise of internet-based entrepreneurship has affected every part of China. For many, reinventing oneself as an entrepreneur has appeared to be an appealing way to adapt to a changing economy and society. Yet in practice, digital entrepreneurship has also reinforced traditional Chinese ideas about state power, labor, gender, and identity. Lin Zhang explores how the everyday labor of entrepreneurial reinvention is remaking China amid changing geopolitical currents. She tells the stories of people from diverse class, gender, and age backgrounds across rural, urban, and transnational settings in rich detail, providing a multifaceted and ground-level view of the twenty-first-century Chinese economy. Zhang explores the surge in digital entrepreneurialism against the backdrop of global financial crises, the U.S.-China trade war, and the COVID-19 pandemic. She argues that the rise of internet-based industries and practices has simultaneously empowered and exploited digital entrepreneurs and laborers. Despite embracing high-tech innovation, state-led entrepreneurialization does not represent a radical break with the past. It has provided a means for implementing developmental goals while retaining the importance of the traditional family and generating new inequalities. Shedding new light on global capitalism and the digital economy by centering a non-Western perspective, The Labor of Reinvention vividly conveys how the contradictions of entrepreneurialism have played out in China.
The global public health crisis of COVID-19 highlights the importance of digital technology. The digital economy is also booming during the pandemic, which has become one of the major driving forces of economic recovery. Given the vital importance of digital technology and the digital economy, this book provides an in-depth understanding of their implications for the sustainable development of ASEAN-China relations from various perspectives. In addition, authors also contribute their resourceful insights on the sustainable development of both China and ASEAN Member States (AMS) through the lens of eco-tourism, carbon neutrality, social inequality, and others.This book provides a series of high-quality policy recommendations. Specific policy recommendations include: 1) China and ASEAN should launch a project to identify connectivity gaps and detail how this might evolve in future investment in digital and ICT (science, technology and innovation). 2) Efforts should be intensified in digital literacy programs, capacity building, and promotion of digital skills to build workforce capacity in the digital age. 3) As a pacesetter in the digital inclusion agenda in the healthcare sector, China can cooperate with other AMS on digital healthcare projects. 4) Action plans should increase collaborative manufacturing and develop mutual trust in supply chains. 5) China and ASEAN should align STI policies with industrial policies and cooperate in adopting frontier technologies while diversifying their production bases by mastering many existing technologies.6) ASEAN and China should continue facilitating e-commerce, including paperless customs clearance, electronic transaction documents, digital authentication, and electronic and online payments.
This book points out that “Internet” is the means, and the digital economy is the result. Therefore, the development of digital economy will inevitably have a profound impact on traditional enterprises and Internet enterprises and become the main way and new driving force for China's innovation and growth. The book starts with the concept of digital economy and reveals the current development of digital economy, how to improve the foundation of digital construction, and the strategies for accelerating digital transformation of various industries, the problems that need to be solved in the development of digital economy and the huge role it will play in promoting society. The book provides a clear blueprint for the government and enterprises to understand and formulate policies and development strategies in the era of digital economy.