Digital transformation is a huge topic in China ( 🇨🇳 ) and for the Chinese industry. Therefore, China was mesmerized and happy when Germany introduced the Industry 4.0 strategy in 2012, because it was in their opinion a strategy that came close to the Chinese understanding of an industrial strategy. It did not take long until the Chinese then came up with the strategy “Made in China 2025”.
As they acknowledged that they are still behind in many things concerning digital transformation, they set up specific strategies called internet plus – e.g. internet plus agriculture, internet plus service sector – combining hardware and internet/service. Here, they are making tremendous progress. Looking at for instance the way they use social media, they are no doubt ahead the Western world. The Chinese are very good in creating usability, user-orientation, user-experience, and the gamification of use so that the users themselves help to improve the products. For instance, “wechat” is on the way to replace “email-communication” in China and is the Chinese version of “whatsapp” and “facebook” plus additional functions combined together. Compared to Germany, people in China are so much less hesitant and concerned to accept these new technologies which is one reason for tremendous progress and the catching-up process.
Besides digital transformation, education is currently a very important topic in China. At the end of this talk we pick up this topic and moreover talk about economic gamechangers and future projects.
Check out #18 Episode of the “WUEconomics – outside the box – Podcast” for more details and insights.
Final Episode of the talk with Doris Fischer, Professor for China Business and Economics at the University of Wuerzburg.