Global technology’s new face: China, Singapore and India
We have long looked to the US for the latest products and tech developments, thanks in part to the prominence of Silicon Valley. But times are changing—more and more innovations and new technology is making its way from the East.
The Chinese tech invasion is in full flow. With so many western platforms and technologies banned in China, home-grown tech entrepreneurs have developed their own versions and in many cases, improved on them. Having conquered China and much of Asia with this often groundbreaking technology, companies are now looking west with an ambitious view to expansion.
Some of China’s big players have already gained traction in the global market with companies like Tencent, Huawei and Alibaba finding international success. Snapping at their heals are mobile phone companies like Xiaomi and OnePlus, car-hailing apps Grab and Ola and online shopping platform Flipcart. They have all taken tentative steps to expand globally in recent months and are finding an audience ready to receive them. With one of America’s biggest retailers, Walmart, teaming up with Flipcart (India’s leading online retail platform), the marketplace is truly opening up.
One of China’s biggest weapons in its arsenal is data. With a population of over 1.3 billion and easy access to information from other Asian markets, China is the world leader in data collection and analysis, giving its tech developers and entrepreneurs a valuable insight into the needs and wants of customers. BioTech, robotics, drones and FinTech are also fast developing markets for the Chinese, and as the country becomes less insular, expect a shift in focus from Silicon Valley to this Eastern powerhouse.
To read the full version of this article, order Issue no. 3 of ALHAUS magazine.