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Real economy VS. Virtual Economy

Monday,Jan 16, 2017



In China, there is a big debate going on about the real economy and the virtual economy. Some say the real economy is shrinking because of the expansion of the digital economy, and even ask for more supervision of online operations by the government; those in the virtual economy argue that the lack of innovation and reform is what’s hurting the real economy. China’s Primer Li Keqiang has said, these economies need to be combined to promote the economic development in China, but high costs in the real economy remain an issue. Finding the way to get the balance right is an ongoing challenge.

And now, topics such as the upgrade of industry and technology, the attraction of virtual economy, the combination of the real and the virtual economy, the modernization of the real economy, and the difficulties faced by the real economy have become hot issues. Mr. Wang Huiyao, the President of the Center for China and Globalization (CCG), Robert Koepp, the Director of The Economist Corporate Network and Li Yong, the senior fellow of China Association of International Trade, joined the dialogue and discussed the above issues.

From CGTN, January 2017