Digital economy has been called the "third great economic revolution," after the agricultural and industrial revolutions, and believed to be a stabilizer amid the devastating global COVID-19 pandemic. A white paper released at the 2021 Global Digital Economy Conference in Beijing shows that China's digital economy skyrocketed by 9.6 percent to $5.4 trillion in 2020, second only to the U.S. which hit $13.6 trillion. What is driving the digital economy? What does this growth say about China's economic policy? And what opportunities and challenges can we expect from this young but exploding industry? #Economy
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