Towards a digital economy with Chinese characteristics?

Abstract

There are two opposing views when considering economic development strategies in the digital age: some insist that the ‘new economy’ applies mainly to the industrialized countries and are doubtful that new information and communications technologies (ICTs) will allow developing countries to leapfrog to higher levels of development; others argue that ‘jump-starting’ development may not be as difficult as the pessimists think. Through a case study on China’s ‘twin-track strategy’ for economic development, which involves merging industrialization and informatization, this article aims to investigate whether developing countries are able to play a significant role in shaping the digital revolution and the global ‘new economy’. The evidence presented in this article suggests that China’s status as a poor and developing country has not prevented its government from making effective preparations to embrace the opportunities and challenges associated with new ICTs in ways that are compatible with indigenous socioeconomic factors.