In the last decade, Chinese internet enterprises have grown at a breakneck pace. This is significant because, while the online world in China is well-known to be trapped behind the Great Wall, there may be another half of the issue that has been comparatively overlooked: the big three Chinese internet providers are also hybrid or blended in the global economies in general of the investment, possession, and control framework that supports them (Jia & Winseck, 2018). The Chinese administration’s determination to improve the nation’s communication network and tight influence and authority has fueled the internet’s fast expansion in China. However, China’s most recent phase of internet growth has been driven by a three-way interaction involving the State, internet enterprises, and foreign financial capital. While these mechanisms are now substantially altering the Chinese internet, they have not been adequately investigated in research journals.
The term “financialization” contributes to the expanding significance of finance, financial markets, and investment firms in the functioning of the economy. Financialization has an influence on both the macroeconomic conditions and combines the features by altering the structure and operation of financial markets as well as affecting company behavior and economic policy. Financialization has also resulted in higher income growth in the financial sector than in the rest of the economy. Financial crises may cause lasting lost revenue, have a terrible impact on the poor and increase unemployment.
Reference
Jia, L., & Winseck, D. (2018). The political economy of Chinese internet companies: Financialization, concentration, and capitalization. International Communication Gazette, 80(1), 30-59.