A Comprehensive Evaluation of China's Digital Economy: A Comparative Study with the U.K. and the U.S

Junhua Zhang ()
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Junhua Zhang: University of Utah, David Eccles School of Business

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 709-719 from Springer

Abstract: Abstract As information technology continues to evolve, the digital economy will play an increasingly important role in the economic development of many countries. China is yet to catch up with developed countries, such as the U.K. and the U.S., as a latecomer in modeling its digital economy. This study identified the current challenges and proposed potential strategies to expedite the expansion of China's digital economy. Firstly, we inspected the current state of China's digital economy. Secondly, China’s digital development was compared with that of the U.S. and the U.K., and the challenges of China’s digital economy were elaborated.; Finally, targeted solutions were outlined. The study identified that the level of development of China's digital economy is lagging behind that of the U.K. and the U.S. in many aspects such as core technology, policy support, and industrial transformation. This study proposes feasible solutions in the following four elements: increasing investment in basic scientific research, reducing the hazards of the digital divide, strengthening the security of digital video privacy, and inviting overseas digital talents to enhance the core technology development.

Keywords: Digital Economy; International Comparison; Challenge (search for similar items in EconPapers)
Date: 2022
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DOI: 10.2991/978-94-6463-052-7_81

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