China's Next Strategic Advantage: From Imitation to Innovation

摘要

At a recent brunch meeting in Beijing with a Chinese financial regulator, your reviewer won the customary, amicable tussle over who would pay. As I tendered my credit card to settle up, my guest observed that he carried neither wallet, nor credit card, nor cash. He relied on the WeChat application on his smartphone to pay for all and any purchases he might make. Like me, few regular visitors to China will be surprised to learn that there is a lot of innovation underway in China with the promise that there is considerably more to follow.