China’s Digital Transformation (The Digital Economy) (Category Economics)

A fairly ancient book from Ma Huateng, the founder of Tencent, which he originally published in the United States. 2017in 2019 This year it was translated into Russian. Interestingly, Tencent is one of the big tech companies in China that created the WeChat countries. In the year of publication, this book might be considered a visionary one, but in 2024 This year we can see how good Ma Huateng was. (||And he was good.||). As for the content, the book consists of the following parts:

1. Theory: The digital economy is a new driving force
2. Fundamentals: improvement of basic principles of digital economy, rapid growth of national economy
3. Industry: releasing digital dividends, transformation and modernization
4. The development of the digital economy - an international trend
5. How to respond to the digital revolution In general, in the first part, the author shows the main factors of the digital economy: data as a production factor, IT infrastructure as a necessary foundation for numbers, digital literacy as a precondition for employee efficiency, blurring the boundaries between supply and demand and merging the virtual and real world. In the second part, the author talks about infrastructure, literacy, cloud technologies and artificial intelligence. The third part is devoted to how to implement information technologies in industry: mining, agriculture, trade, education, medicine, transport and finance. The chapter on finance is devoted to the analysis of how top countries move the digital economy and regulate it: the United States, the European Union, the United Kingdom. In general, the author identifies three models: Restrictive regulation, as in the United States, where functional regulation is used – for example, it means that in whatever form finance is, it is incorporated into the existing system of financial regulation, taking into account what transactions they relate to and what functions they have. This can be seen in various digital assets. Proactive regulation in both the UK and Singapore. Here the financial system is mature and the legislation is verified. In these countries, the main driver of the progress of digital finance is government policy, not the market or technology. Passive regulation - it is applied in developing countries. Here, the financial sector develops under the influence of capital and the market and mainly relies on business models presented in the market. The fourth part of the book is devoted to how the United States, the European Union and the United Kingdom build their maps of the digital economy and form initiatives. It is interesting that most of these initiatives are already in the past, so it is possible to assess their effect:) The fifth part of the book is devoted to the development of digitalization in China. In the current situation, we can see how successful they are. 7 years 2017 along 2024.

#Economics #Management #Leadership #History