Why Data Is Like Fire

Long Chen discusses the transformative impact of digital technology, highlighting its low entry threshold and ability to share information. He emphasizes the rapid adoption in emerging markets, particularly China, which has become a leader in mobile payments and e-commerce. Chen argues that digital technology offers significant opportunities for these markets, allowing them to bypass traditional industrialization. He also addresses misconceptions about China's growth, noting the security and efficiency of mobile payments compared to traditional methods.

What challenges do emerging markets face when adopting new technologies?

Discuss the significance of China's mobile payment growth compared to the United States.

How can emerging markets leverage digital technology for economic growth?

What misconceptions exist regarding China's economic growth and policy regulations?