Although global economy growth has remained stagnant since the 2008 financial crisis, e-commerce, the completely new business infrastructure built on digital technology, is rapidly growing and extending the territory of the “new economy”. Whether e-commerce can contribute to inclusive growth is the question policy makers want an answer to.
This report reviews the development of e-commerce in China and by studying its economic impacts attempts to provide an answer. The growth benefits have not been only distributed among big players. From cities to villages, from manufacturing to service sectors, SMEs have a level playing field to compete with large companies and become the new growth engine of the economy.
“China's experience holds useful lessons for much of the developing world. It suggests that developing countries too, given the right policies and investment in infrastructure, could use e-commerce to grow in a way that benefits those who might have been sidelined by traditional technologies - MSMEs, the rural population, the handicapped, and women. ”
WTO Deputy Director-General
“This report is an excellent illustration of how e-commerce can be a crucial pillar for inclusive economic growth. The focus on broadening access to finance, logistics and technological advancements to disadvantaged players in the local market can provide much-needed synergies on a national level and provide an excellent path for future growth and development in developing countries. ”
H.E. Syed Tauqir Shah
Ambassador of Pakistan to the WTO