Can China Innovate Without the Platform Economy?

Andrew Collier ()
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Andrew Collier: Pine Court

Chapter Chapter 5 in China’s Technology War, 2022, pp 69-85 from Springer

Abstract: Abstract The technology crackdown, and related policies like Common Prosperity, do not help the economy move forward, but instead put roadblocks in its place. In Xi Jinping’s view, the platform economy provides convenience to consumers but does not contribute to the country’s economic future, which he believes should be tied to “hard” technology like semiconductors. Policies designed to reduce financial risk and improve equality such as the proposed property tax are infeasible given domestic institutional obstruction. Innovation will be more difficult if constrained by state imperatives and a reduction in private capital. Experiments in state investments in the semiconductor industry have been mostly failures. The platform economy offered innovation with scalability in the internet services sector. There may be an economic need to revive support for the platform economy.

Keywords: Employment; Technology hardware; Made in China 2025; State funds; Digital currency; Economic rebalancing; Ant financial; Gig economy (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-981-19-3042-3_5

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