The Impact of Digitalization on Economic Growth across Countries (the Cases of China and the USA)

Abstract

The authors of the study assessed the level of digitalization in the People’s Republic of China and the United States of America and analyzed the impact of digitalization on economic growth in these countries.
The study revealed that China and USA, which are the largest economies in the world, have a large and developed digital sector. Moreover, these countries are introducing digital technologies into other economic sectors. Consequently, there is direct correlation between economic growth of the country and the level of its digitalization.
Digitalization is a key driver of economic growth in the modern world. Unfortunately, it may result in the widening gap between digitalized countries and those where digitalization is implemented quite unsuccessfully. Therefore, the “lagging behind” countries should apply some special measures to increase the level of digitalization.