Development of the Digital Economy in the USA and China: Factors and Trends

Complex research of the “digital economy” in the U.S.A. and China –undisputable leaders of the phenomena – appears to be an important research task. This article is focused on identifying its` key factors and developmental trends (also important for understanding global processes). Growing economic...

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Autor principal:	I. V. Danilin
Formato:	article
Lenguaje:	EN RU
Publicado:	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”) 2019
Materias:	digital economy, u.s.a., china, internet platforms, information and communication technologies International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/17053dab5ea9480693da0accc9c83c3f
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id	oai:doaj.org-article:17053dab5ea9480693da0accc9c83c3f
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spelling	oai:doaj.org-article:17053dab5ea9480693da0accc9c83c3f2021-11-07T14:45:03ZDevelopment of the Digital Economy in the USA and China: Factors and Trends2542-02402587-932410.23932/2542-0240-2019-12-6-12https://doaj.org/article/17053dab5ea9480693da0accc9c83c3f2019-12-01T00:00:00Zhttps://www.ogt-journal.com/jour/article/view/553https://doaj.org/toc/2542-0240https://doaj.org/toc/2587-9324Complex research of the “digital economy” in the U.S.A. and China –undisputable leaders of the phenomena – appears to be an important research task. This article is focused on identifying its` key factors and developmental trends (also important for understanding global processes). Growing economic impact and dominance of the U.S.A. and China in the “digital economy”, especially on the Internet markets, is confirmed – with special attention to the extra-large platformic companies. Analyzing the history of the “digital economy” in both nations primacy of market success factors is stated – while stressing important role of technological specifics in shaping trends. For the U.S.A. the key drivers were meeting existing demand on the traditional markets with fundamentally new technological products, as well as formation of new markets to address existing latent demand. For China originally it was inability of the service sector to address growing internal demand, which supported strong growth of internet markets as a fast and cheap alternative (using localized western technologies and business models). Sizable market, governmental support, and later strong investments in technology and innovation determined China`s leadership in the digital economy– with overcoming the U.S.A. in some areas. In conclusion, it is noted that the importance of original digital economy drivers (U.S. technological superiority, China`s huge growing market, etc.) in both nations is expiring. This makes serious changes inevitable. The situation is complicated by growing challenges for the digital economy – from evolving regulatory framework to digitalization of the global economy.I. V. DanilinАссоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)articledigital economy, u.s.a., china, internet platforms, information and communication technologiesInternational relationsJZ2-6530ENRUКонтуры глобальных трансформаций: политика, экономика, право, Vol 12, Iss 6, Pp 246-267 (2019)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	digital economy, u.s.a., china, internet platforms, information and communication technologies International relations JZ2-6530
spellingShingle	digital economy, u.s.a., china, internet platforms, information and communication technologies International relations JZ2-6530 I. V. Danilin Development of the Digital Economy in the USA and China: Factors and Trends
description	Complex research of the “digital economy” in the U.S.A. and China –undisputable leaders of the phenomena – appears to be an important research task. This article is focused on identifying its` key factors and developmental trends (also important for understanding global processes). Growing economic impact and dominance of the U.S.A. and China in the “digital economy”, especially on the Internet markets, is confirmed – with special attention to the extra-large platformic companies. Analyzing the history of the “digital economy” in both nations primacy of market success factors is stated – while stressing important role of technological specifics in shaping trends. For the U.S.A. the key drivers were meeting existing demand on the traditional markets with fundamentally new technological products, as well as formation of new markets to address existing latent demand. For China originally it was inability of the service sector to address growing internal demand, which supported strong growth of internet markets as a fast and cheap alternative (using localized western technologies and business models). Sizable market, governmental support, and later strong investments in technology and innovation determined China`s leadership in the digital economy– with overcoming the U.S.A. in some areas. In conclusion, it is noted that the importance of original digital economy drivers (U.S. technological superiority, China`s huge growing market, etc.) in both nations is expiring. This makes serious changes inevitable. The situation is complicated by growing challenges for the digital economy – from evolving regulatory framework to digitalization of the global economy.
format	article
author	I. V. Danilin
author_facet	I. V. Danilin
author_sort	I. V. Danilin
title	Development of the Digital Economy in the USA and China: Factors and Trends
title_short	Development of the Digital Economy in the USA and China: Factors and Trends
title_full	Development of the Digital Economy in the USA and China: Factors and Trends
title_fullStr	Development of the Digital Economy in the USA and China: Factors and Trends
title_full_unstemmed	Development of the Digital Economy in the USA and China: Factors and Trends
title_sort	development of the digital economy in the usa and china: factors and trends
publisher	Ассоциация независимых экспертов «Центр изучения кризисного общества» (in English: Association for independent experts “Center for Crisis Society Studies”)
publishDate	2019
url	https://doaj.org/article/17053dab5ea9480693da0accc9c83c3f
work_keys_str_mv	AT ivdanilin developmentofthedigitaleconomyintheusaandchinafactorsandtrends
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Development of the Digital Economy in the USA and China: Factors and Trends

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