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The Economist: The future of e-commerce (with Chinese characteristics) - No.1 - 2nd Jan 21

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Tạp chí The Economist là tạp chí uy tín của Anh với lịch sử hơn 176 năm hình thành. The Economist nổi tiếng với văn phong hàn lâm, chuyên sâu về các vấn đề chính trị, kinh tế trên toàn thế giới. Mỗi tuần có hơn 1.7 triệu bản đến tay độc giả trên 200 quốc gia. Hiện ấn bản nhập về Việt Nam là phiên bản cho khu vực Châu Á - Thái Bình Dương.

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The Economist: The future of e-commerce (with Chinese characteristics)


Why retailers everywhere should look to China

Over the past ten months most people in the rich world have participated in the biggest shopping revolution in the West since malls and supermarkets conquered suburbia 50 years ago. The pandemic has led to a surge in online spending, speeding up the shift from physical stores by half a decade or so. Forget the chimney; Christmas gifts in 2020 came flying through the letterbox or were dumped on the doorstep. Workers at a handful of firms, including Amazon and Walmart, have made superhuman efforts to fulfil online orders, and their investors have made supernormal profits as Wall Street has bid up their shares on euphoria that Western retailing is at the cutting edge.

Yet as we explain this week (see article) it is in China, not the West, where the future of e-commerce is being staked out. Its market is far bigger and more creative, with tech firms blending e-commerce, social media and razzmatazz to become online-shopping emporia for 850m digital consumers. And China is also at the frontier of regulation, with the news on December 24th that trustbusters were investigating Alibaba, co-founded by Jack Ma, China’s most celebrated tycoon, and until a few weeks ago its most valuable listed firm. For a century the world’s consumer businesses have looked to America to spot new trends, from scannable barcodes on Wrigley’s gum in the 1970s to keeping up with the Kardashians’ consumption habits in the 2010s. Now they should be looking to the East.


Few reforms would benefit Japan as much as digitising government

It is a ritual almost as frequent and as fleeting as observing the cherry blossoms each year. A new Japanese government pledges to move more public services online. Almost as soon as the promise is made, it falls to the ground like a sad pink petal. In 2001 the government announced it would digitise all its procedures by 2003—yet almost 20 years later, just 7.5% of all administrative procedures can be completed online (see article). Only 7.3% of Japanese applied for any sort of government service online, well behind not only South Korea and Iceland, but also Mexico and Slovakia. Japan is an e-government failure.

That is a great pity, and not just for hapless Japanese citizens wandering from window to window in bewildering government offices. Japan’s population is shrinking and ageing. With its workforce atrophying, Japan relies even more than other economies on gains in productivity to maintain prosperity. The Daiwa Institute of Research, a think-tank in Tokyo, reckons that putting government online could permanently boost GDP per person by 1%. The failure to do so is a missed opportunity.


Britain has lost the EU. Can it find a role?

The transition is over and Britain is fully out of the European Union. On December 24th the sides agreed on a trade deal. It spares them the even greater upheaval of no deal at all (see Britain section). It is minimal, though, along the lines first signalled months ago. It largely overlooks services and marks the start of endless haggling. And, on British insistence, foreign policy and defence are ignored. Looking across the seas with an estranged continent at its back, a lonesome Britain thus faces a bracing question: what role should it now play in the world?

It is a question the country has grappled with off and on for centuries, and in recent decades British thinking has often been clouded by nostalgia for lost empire and great-power status. Membership of the European club provided an answer of sorts. Britain, as Tony Blair put it, could be a “bridge” between America and Europe, with influence in both Washington and Brussels. Now it must think afresh.


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