Where is the new economy?

In the era of physical financialization, we no longer rely on land plus labor, and we are less dependent on resources. In the final analysis, more and more new economies are creating wealth that is connected to data, platforms, credit and users.

The turning point in China’s economic growth was in 2007, with a growth rate of 13.5% in 2007 and a decline since then. What is the result of this decline? I think it is the optimization of the industrial structure, and the optimization criteria are two: the first is that the proportion of the tertiary industry has increased year by year; the second is that the proportion of the new economy has increased year by year.

This raises a question. If the proportion of the tertiary industry continues to rise, with the completion of China’s urbanization, the proportion of the tertiary industry will reach more than 60%, while the tertiary industry in all countries in the world will account for more than 60%. The general growth rate will not exceed 5%. On the other level, however, we find that the proportion of the new economy is increasing year by year. The contribution of the new economy in economic growth from 2005 to 2007 is in the range of 10% to 15%, and now accounts for the contribution of economic growth. More than 40% of the degree. It should be said that the new real economy is coming, and it is challenging the old real economy.

Where is the new economy new? Many people still can’t understand today, thinking that new retail and new finance are the new economy. In fact, the economy is the economy. But every stage of economic development is inseparable from the basic resources of the ecosystem. In the era of agricultural civilization, we repeated the idea that “land is the mother of wealth and labor is the father of wealth”; in the period of industrial revolution, we penetrated the land and discovered oil, coal and minerals; and the era of physical financialization We no longer rely on land plus labor, and we are less dependent on resources. In the final analysis, more and more new economies are creating wealth that is connected to data, platforms, credit and users.

Under the conditions of the new economy, what power can make users create value? The key is the platform, the platform links the data, so the data becomes the resource; the platform links the users, so the user creates value. In this case, a platform is divided into two ends, one side turns data into resources, and the cost is decremented; while turning users into value creators, the value is multiplied, which is called platform expansion. Therefore, the four basic characteristics of the new real economy are: the first entity financialization; the second cost reduction; the third value multiplication; the fourth platform expansion. ?

It can be said that China’s economy has developed to this day and has unknowingly entered a new model, which we can attribute to the transformation of the system and the wiseness of leadership. When the founder of Dow Jones gave us a famous saying, he told us that life is the business cycle, but the cycle has many forms, the trend is like the tide, the cycle is like the bay, and the human effort is just some of the waves that turn around. The meaning of this sentence is that everyone is not making money because it is smart, but because it is right.

The expansion of the new economic platform, data becomes a resource, credit becomes an asset, and users create value. In the process, people will of course ask: How should we choose? The basic resources of the new real economy have changed. In the era of digital economy, data is oil, users are assets, storage is land, computers are public chains, communications are highways, and the value that cannot be calculated is in the cloud. From this point of view, if today can not understand the two basic laws of the Internet – Moore’s Law and Metcalfe’s law, then it is impossible to distinguish the direction of the market.

By the same token, in the choice of “big and small”, people have their own self-knowledge, and the vast majority of “successful cannot be copied”. Every successful leading enterprise has hundreds of small and micro enterprises behind it. Leading companies have “things with tigers” and small and micro enterprises “smoothing roses”, which is a natural combination of old and new entities. If there is no courier company, there is no “Double 11” shopping carnival, and the origin of the express delivery industry is self-employed. Even in the famous painting “The Riverside Scene of Qingming”, there is a “courier brother” of the year. This is a speed-changing world, than efforts to choose, thought to create wealth, create value for customers, everything is credit!

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