Balancing State Capitalism and digital economy in China
Keywords:
State-market relations, Republic of China, State capitalism, Digital economy, Cyber governanceAbstract
This article explores the relationship between state and market of China in digital economy which have been affected by state capitalism since the economic reforms in 1978. Balancing state and market in an era of widespread using of technology, IT, and information to support the country's economic development is a huge challenge for the current Chinese government. This study employs a quantitative and a qualitative research method by analyzing the secondary data to study how China's economic structural changes could impact on state-market relations in the digital economy era. The research firstly focuses on China’s National Plan, National Strategic Plan, key digital policies, and the economic structure of China in the digital economy era. Then, it analyzes the relationship of state capitalism and cyber governance. Lastly, it discusses the relationship between state and the Chinese market in the digital economy era. This research concludes that the state-market relations would change according to the context and factors surrounding the changes of the structural economy in China to serve the stability of the government and the Chinese Communist Party as a main priority in the long run and the state still takes a leading role to implement strategies and policies. Nevertheless, the inter-regional income disparity caused by the transition to the digital economy remains a top priority for states to address.
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