According to Chinese scholar Professor Cheng Xizhong, high-level andhigh-quality cooperation between China and Pakistan could boostcollaboration over innovative technologies and promote the concept of adigital economy.
Mr. Xizhong also believes that this cooperation will facilitate thedevelopment of a community of digital economy under the framework of theChina-Pakistan Economic Corridor (CPEC), as reported by the *China EconomicNet (CEN)* link.
The professor highlighted Pakistan’s status as the land of opportunity andpointed out that the country has tremendous and unmatched potential. Henoted that while technology-driven innovation is spurring on productivegrowth, rapid advancements in technology are enabling new and excitingbusiness opportunities.
He stated that Pakistan’s efforts on the path of digital growth willimprove the business environment, attract domestic and foreign investment,and accelerate the development of the national economy.
While answering the question of how China and Pakistan were able to revivetheir economies so quickly despite the battle against COVID-19, Mr. Xizhongexplained that the digital economy had a huge role to play with its strongvitality and great development potential. He believes that the digitaleconomy effectively cushioned the downward pressure of economy in countrieslike China and Pakistan.
Therefore, he believes that it’s time that the engine of digital economy begiven a full focus. The digital economy is an important path to activatethe consumer market and strengthen the real economy.
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Digital technology has given birth to new Internet models such as livebroadcast economy, cross-border e-commerce, Internet finance, and newindustries such as online education, Internet health care, and onlineoffice. As a result, it creates a large number of individual andmicro-economies, new employment space and opportunities, and moreconvenient digital products and services.
Professor Cheng is a visiting professor at Southwest University ofPolitical Science and Law, senior fellow of the Charhar Institute, andformer Defense Attache in South Asian countries.
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