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China remains one of the world’s fastest growing economies. Its economy is undergoing a shift to focus more on consumer-driven, “new economy” sectors.

The article explained how China’s success can be attributed to a shift away from a planned economy. Additionally, creating cheaper versions of existing products gave the Chinese population more access to technology like smartphones, which gave rise to tech giants like WeChat, Xiaomi, and Tinno. “Connecting the population digitally paved the way for apps like WeChat, which allow users to do everything from messaging to mobile banking,” the article noted. “These advances have become so widespread that companies like Xiaomi and Tinno have spawned from the shanzhai ecosystem to become aut...