europe.chinadaily.com.cn
China Leverages Digital Platforms to Boost Global Competitiveness
Economists at the 2025 ZGC Forum in Beijing highlighted China's use of digital platforms to help smaller businesses expand overseas and promote institutional opening-up, creating new competitive advantages. They also stressed the need for fiscal reforms to stabilize economic growth and explored developing renminbi-pegged stablecoins in Hong Kong.
- How is China using digital technologies to build new global competitive advantages, and what are the immediate impacts?
- China is leveraging digital platforms to assist SMEs in expanding globally and enhance institutional openness, creating new competitive advantages in the context of digital globalization, according to economists at the 2025 ZGC Forum in Beijing. This strategy is reshaping cross-border e-commerce and the international division of labor.
- What are the key fiscal reforms needed to support China's digital transformation and long-term economic growth, and what are their potential implications?
- The long-term implications include potential shifts in global trade dynamics, increased competition for global markets, and a possible challenge to the US dollar's dominance as stablecoins like a renminbi-pegged one in Hong Kong gain traction. Fiscal reforms in China, focusing on long-term balance sheet management, are also crucial for sustaining economic growth and achieving these goals.
- What are the potential challenges and opportunities related to the development and use of stablecoins, especially in the context of China's economic goals?
- This initiative connects to broader patterns of digital transformation and China's economic strategy. By supporting SMEs' overseas expansion and promoting institutional opening-up, China aims to increase its global economic influence and integrate further into the global economy. This is a response to the central role of digital technologies in reshaping globalization.
Cognitive Concepts
Framing Bias
The article frames China's digital economy initiatives very positively, highlighting its competitive advantages and potential benefits. The selection and sequencing of quotes and the overall tone emphasize the positive aspects of China's approach. For example, the opening sentence sets a positive tone by stating China is "building new competitive advantages." This framing may influence the reader to view China's actions favorably without a balanced presentation of potential drawbacks or counterarguments.
Language Bias
The language used is largely neutral, but the frequent use of positive descriptors such as "driving force," "new competitive advantages," and "accelerating" creates a generally optimistic tone regarding China's digital initiatives. While not overtly biased, this positive framing could subtly influence reader perception.
Bias by Omission
The article focuses heavily on the perspectives of Chinese economists and officials, potentially omitting counterarguments or alternative viewpoints on China's digital economy strategy and its global implications. While mentioning a US economist's perspective on stablecoins, the piece doesn't delve into critiques or alternative approaches to digital currency development or regulation from other nations or experts. The potential impact of China's digital initiatives on other countries' economies is also not extensively explored. This omission could limit the reader's ability to form a fully informed opinion.
False Dichotomy
The article doesn't present a clear false dichotomy, but it implicitly frames China's digital strategy as a positive force for globalization without fully examining potential downsides or challenges. The focus is primarily on the benefits for China and the potential strengthening of the RMB, which may overshadow or underplay potential negative consequences for other nations or the global economic system.
Sustainable Development Goals
The article highlights China's use of digital platforms to help small and medium-sized enterprises (SMEs) expand overseas, thus promoting economic growth and creating new job opportunities. This directly contributes to SDG 8, Decent Work and Economic Growth, by fostering entrepreneurship and boosting international trade.