This is China
Quote from Ndubuisi Ekekwe on July 13, 2018, 5:01 PMFrom a Mckinsey Newsletter; this is the state of digital innovation in China. No matter how you see it, this is very enviable.
China’s consumer economy is now among the world’s most digitized, and its business landscape is packed with start-ups and rapidly transforming business models. In little more than a decade, China has become the largest e-commerce market in the world, accounting for more than 40 percent of global e-commerce transactions. China’s mobile payments are 11 times the value of those in the United States, thanks to consumers’ early embrace of mobile technology.
This flourishing digital culture is paying innovation dividends, as China is home to one in three of the world’s “unicorns,” or start-ups with more than $1 billion in market cap. And China now places in the top ranks of global venture-capital investment in virtual reality, autonomous vehicles, 3-D printing, robotics, drones, and artificial intelligence.
Interestingly, Nigeria is largely at the same stage where China was in the 1970s. But of course if we do not solve corruption, nothing will happen. Nigeria has to do all necessary to deal with that monster. I have proposed a mandatory online expense register that can deal with this.
From a Mckinsey Newsletter; this is the state of digital innovation in China. No matter how you see it, this is very enviable.
China’s consumer economy is now among the world’s most digitized, and its business landscape is packed with start-ups and rapidly transforming business models. In little more than a decade, China has become the largest e-commerce market in the world, accounting for more than 40 percent of global e-commerce transactions. China’s mobile payments are 11 times the value of those in the United States, thanks to consumers’ early embrace of mobile technology.
This flourishing digital culture is paying innovation dividends, as China is home to one in three of the world’s “unicorns,” or start-ups with more than $1 billion in market cap. And China now places in the top ranks of global venture-capital investment in virtual reality, autonomous vehicles, 3-D printing, robotics, drones, and artificial intelligence.
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Interestingly, Nigeria is largely at the same stage where China was in the 1970s. But of course if we do not solve corruption, nothing will happen. Nigeria has to do all necessary to deal with that monster. I have proposed a mandatory online expense register that can deal with this.