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With 632 million users, China's Internet has already produced a dynamic technology sector, thriving social networks, and the world's largest e-tail (consumer-facing e-commerce) market.Similarly, China's nascent used-car market stands to benefit significantly from the Internet revolution, as e-commerce boosts the transparency of vehicle listings and transactions, and new online tools help lenders acquire and analyze credit histories in a more detailed and sophisticated way.Given that the Internet empowers consumers to compare offerings directly and choose the most economical and attractive option, firms that attempt to adhere to business as usual will quickly be overtaken by their competitors.Another fundamental shift to be expected from the rise of China's Internet economy is that the most innovative and flexible – not necessarily the largest or most established – enterprises will be the most successful. The Internet will not only create economic momentum for China in the years ahead; it will help to transform an unsustainable growth model based on fixed investment and cheap labor. By unleashing the economy's productivity-growth potential, the Internet can help China attain its goal of developing a growth model that can lift the country to high-income status.
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