UnitDigitaleconomy5

1Thedigitaleconomyreferstoeconomicactivitiesdrivenbyonlineconnectionsamongpeople,businesses,devices,anddata.Howisthedigitaleconomychangingtraditionalbusinessmodels?Thebackboneofthedigitaleconomyishyper-connectivitywhichmeansthegrowinginter-connectednessofpeople,organizations,andmachinesthatresultsfromtheInternetandmobiletechnology.Thedigitaleconomyistakingshapeandunderminingconventionalnotionsabouthowbusinessesarestructured;howfirmsinteract;andhowconsumersobtainservices,information,andgoods.

2WhataresomeapplicationsofthedigitaleconomyinthedailylivesofpeopleinChina?Asof2022,Chinahadapproximately1.04billionregisteredInternetusers,accountingforone-fifthoftheworld’stotal.FinancialTimesassertedthatChina’svibrantdigitalindustryspearheadedtheglobalmobileecosystem.AmongChina’s“fournewgreatinventions,”threearedigitalproducts—Alipay,sharingbikes,andonlineshopping.Alongwiththeincreasinglydigitizedhigh-speedrailway,theyhavereshapedpeople’slivesinChina.

DigitaleconomyisreshapingChina’seconomicstructureforcefulhavingapowerfuleffectthatislikelytochangeasituatione.g.Theboardofdirectorsmadeaforcefuldecisiontoinvestheavilyinnewtechnologydespitetherisks.bigdataverylargesetsofdatathatareproducedbypeopleusingtheInternet,andthatcanonlybestored,understood,andusedwiththehelpofspecialtoolsandmethodse.g.Manye-commercegiantsrelyonbigdatatopersonalizetheshoppingexperienceforeachcustomer,leadingtohighercustomersatisfactionandrepeatpurchases.

DigitaleconomyisreshapingChina’seconomicstructurecloudcomputingtheuseofservices,computerprograms,etc.thatareontheInternetratherthanonesthatyoubuyandputonyourcomputere.g.ManystartupsareoptingforcloudcomputingservicesasitallowsthemtoscaletheirITinfrastructur