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This post was edited by okra at 2018-3-10 09:44|
The conventional wisdom in new technology adoption as applicable in the west is it follows the gartner hype cycle. First, there is fast demand in a short span, then kinks are discovered which drops the demand down into a valley whereupon stock analysts write about potential despite and then the kinks are overcome to create an upward wave.
What China has is super-sized potential market for new anything. New technologies, new methods, new business models. That's why so many foreign investors have been making a beeline to start business in China while demanding exclusive use of their technologies despite the historical fact the last time one did, it had ended opiately for China.
China's super-sized potential market means its citizens are all ever-ready and agile to adopt and exploit new technologies to upgrade existing and create new businesses in the fastest most efficient manner in the world. For instance, who would have thought that today China leads the world in mobile payments?
This characteristic of the China market means China has the biggest mass and fastest velocity to bypass the valley of the gartner hype cycle and therefore earn extra mileage in the race to achieve pole position in any new technology while others have to still climb out of the valleys. Therefore, China has super-momentum.
To that, add the other China characteristic of networking; this is not just talking and dealing even with strangers in the same monotonic community at large but also a meeting of minds uniquely canvased by unbroken rules of cultural protocols traceable back centuries.
One other matter comes to mind but it is a weakness that can be transformed into strength. All over the world, thousands of small businesses are wondering how to face the amazon effect which dis-intermediates the middle business layer. If China can solve this problem of how to help those small businesses retain their roles and continue to thrive, it would be able to help all small businesses all over the world overcome the amazon effect.
It has already used e-commerce as a marketing tool to help poor farmers in remote areas get funds and customers for their produce.
What 5G can do is to increase the bandwidth for mobile connectivity that will expand and strengthen the performance of the global supply chain right into factories where robotics can cooperate to mass-customize with high precision and thus quality for higher prices in what can be described as the Internet-of-Things (IoT) industrial ecosphere.
Furthermore, transportation as in autonomous vehicles plus other socially-linked applications like 7D marketing can be enhanced using 5G to reduce costs, increase efficiency and derive more profits for re-investment.
Because of its initiative in 5G, China can be the global nucleus of developing and rolling out of this new century's driving factors of growth and modernization not just in industry but also in commerce and society.