Skip navigation
The Numbers That Make China the World’s Largest Sharing Economy
Article

The Numbers That Make China the World’s Largest Sharing Economy


auto-generated audio
auto-generated audio

Editorial Rating

8

Qualities

  • Innovative
  • Eye Opening

Recommendation

Worldwide, the sharing economy is enormous. Peer-to-peer transactions have transformed commerce, making more goods and services available to consumers at lower prices. According to policy expert James Pennington, China is the biggest and fastest adopter of the shared-asset business model. Yet some government leaders question its social costs to communities. getAbstract recommends this brief but thought-provoking text to readers interested in this burgeoning aspect of the new economy.

Take-Aways

  • The sharing economy, operating via digital architecture, enables individuals to rent their assets directly to peers.
  • The business model is expanding rapidly, particularly in China, whose major cities are fertile ground for peer-to-peer services.
  • China’s state information sector predicts that the sharing economy could make up 10% of GDP in 2020 and reach 20% by 2025.

About the Author

James Pennington is a project specialist at the World Economic Forum.