China Regulating Tech Won’t Choke 10 Trillion Yuan Business
(Bloomberg) -- The Chinese government’s scrutiny of internet companies should be positive for online commerce -- and consumption more broadly -- over the longer term. Curbing monopolies now may be painful for the incumbents, but more competition should be good for consumers and growth of the industry. Bloomberg Economics sees online shopping expanding to account for about a third of consumer spending over the next few years.
©2021 Bloomberg L.P.