Kai-Fu Lee and Jonathan Woetzel — China, the Digital Giant

Retraining the displaced will be a major challenge for China’s government, as will preventing the major digital players from securing innovation-stifling monopolies. But the government’s readiness to embrace the emerging digital age, pursuing supportive policies and avoiding excessive regulation, has already placed the country at a significant advantage.

Digitization also addresses the issue of the economic effect of China's aging population and the one-child policy's affect on replenishing the labor supply.

Project Syndicate
China, the Digital Giant

Kai-Fu Lee, co-founder and CEO of Sinovation Ventures, and Jonathan Woetzel, a McKinsey senior partner and a director of the McKinsey Global Institute