China’s Digital Market: How it Combats the Economic Consequences of the Corona Virus
Even before the surge of Corona Virus cases and the world going into lock down, the digital market in China has been on the rise, and more dynamically than most nations around the world. Such systematic progression is rooted in the country’s core business model as well as the business environment created by China’s rapid growth. Using their business environment as an example, we can more readily anticipate business trends and opportunities that will arise in this age of digital business.
From the beginning of the outbreak to the present, China has been unknowingly prepared for the change from physical work environments to the shift into a predominantly remote working business model. The growth of technology-based companies such as Tencent, Alibaba, and Huawei, as well as the integration of apps such as WeChat and Weibo into their daily life has put the Chinese economy ahead of the curve in the shift towards a digital business framework. The convenience afforded by the systems in place allow more remote services to be provided to the everyday consumer. This addresses the issue of public quarantine that’s present in most countries in the world.