China will soon be the largest digital market

Published on: August 20, 2018 / Update from: August 31, 2018 - Author: Konrad Wolfenstein

+++ China will soon be the largest digital market +++ In the West, Google (still?) dominates, in China Baidu +++ Where trade with China is particularly important +++

You can find more infographics at Statista

China will soon overtake the USA in digital business. This is shown by data from Statista’s “Digital Economy Compass”. The study focuses on the global competitive development in the platform business of (among others) eCommerce, eTravel and digital media. According to calculations by analysts at Statista, the volume of the digital market in the Middle Kingdom is already larger than that of the US market in 2018. This means that China is becoming the largest digital economy. The “Digital Economy Compass” shows the numbers and factors behind this development and also offers a comprehensive overview of the platform business in the central markets of the USA, China and Europe.

Google (still?) dominates in the West and Baidu in China

media reports, Google plans "to launch a search engine in China that takes care of Chinese censorship." In the USA and Europe, the company dominates the search engine market at will. Bing or yahoo! play a too low role to go through as a competition. And also in the rest of the world, the search engine with its headquarters in Mountain View, California, is mostly the market leader. One of the few exceptions to this rule is China. Here Baidu is the undisputed number one. Google had withdrawn from the Middle Kingdom in 2010. Since then, the US company no longer has access to one of the largest advertising markets.

You can find more infographics at Statista

Where trade with China is particularly important

You can find more infographics at Statista

The trade dispute between the United States and China does not only have losers, because even if it is expected that the People's Republic will do less trade with the USA in the future due to the tariffs, there are still goods to be exported. And for imports of crude oil, pork, fruit and wine, there are a number of producers outside the United States who would be only too happy to further develop the Chinese market.

The infographic shows which currency regions are currently conducting particularly intensive trade with the Middle Kingdom. These include, above all, other BRICS states and European countries with rapid growth.