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China Poised to Take the Digital Economy Crown

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Editor’s Remarks:
China looks set to overtake the US as the world’s largest digital economy as soon as 2018, if new projections by Statista are anything to go by. The figures for revenue from the digital market, which includes all revenues generated within e-commerce, e-travel, digital media and the market for connected cars (vehicles with internet access). Though the two digital powerhouses are forecast to race neck-and-neck this year, with the US slightly ahead on $633bn to China’s $626, China is expected to pull away next year with $765 to America’s $698. The EU5 (France, Germany, Italy, Spain and the United Kingdom), meanwhile, will trundle along with a roughly constant level of growth, expected to add around another $40bn to its revenues each year. The data shows just how important China’s internet-age revolution – driven in no small part by giants Baidu, Alibaba, Tencent and Huawei – is to its future role in the world economy. If the forecasts turn out true, China will be the world’s biggest digital economy before it becomes the world’s largest economy as a whole.

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