"Today, many developing countries can benefit from China’s support in digital economic development from four perspectives: first, in infrastructure building; second, in technology transfer and capacity building of human resources; third, in promoting financial inclusion, with digital payment systems and financial innovations; and finally, in regional integration, enhancing connectivity and strengthening cooperation among the developing countries," Jia Yu, Peking University.
On September 19, CEBRI’s Asia Program, in partnership with BOCOM BBM Bank, held the online event "Transformation of the Chinese Economy: Impact of Digitalization and Innovation." This was the fourth and final meeting of the 2023/2024 China Analysis Group, aimed at exploring how digitalization strategies, such as the Made in China 2025 program and Revolution 4.0, are transforming the Chinese economy, boosting innovation and efficiency in industry.
Moderated by Larissa Wachholz, Senior Fellow at CEBRI and Partner at Vallya Participações, the event featured Jia Yu, Director of the Institute of New Structural Economics at Peking University, and Ruby Osman, Political Adviser on Geopolitics at the Tony Blair Institute for Global Change. The discussion covered topics such as the current state of the digital economy, the diversification of sectors including digital product manufacturing, services, and digital agriculture, as well as international cooperation, with a focus on the Belt and Road Initiative and the Digital Silk Road, and the future of the digital economy in China, highlighting the importance of industrial digitalization and new technologies.
The event provided a broad perspective on how China is moving away from its traditional economic model towards a more sustainable model focused on innovation and technological development. This shift aligns with the concept of "high-quality development". The pursuit of technological self-sufficiency, in response to U.S. restrictions on access to advanced technologies, especially semiconductors, was one of the central topics discussed, as well as the role of the population and the impact of new technologies on daily life.
Since the end of 2023, the meetings of the China Analysis Group have fostered discussions on opportunities and challenges in the digital transition of both countries, as well as possibilities for cooperation, the state of the Chinese economy, and perspectives for strengthening the relationship between Brazil and ASEAN in a sustainable world, in addition to the benefits that Brazil can gain from this partnership.
Watch the full broadcast HERE.
