China's e-commerce industry has been flourishing for the recent years as the country grows to be the world's largest Internet user populace. (Photo : Reuters)
When it comes to digital innovation, China is starting to rear its successful head against Europe. Technological progress in Europe seems to become more stagnant compared to the progress in China.
According to Bloomberg Business, Europe as a region is starting to experience all sorts of problems, first in relation to being a regional bloc, and second in relation to being progressive compared to other nations, like China.
Not only is it currently trying to keep its currency together, it is also lagging behind with the fast-moving digital economy taking place all over the world, especially compared to China.
Statistics provided by the Digital Evolution Index showed that the nine of the top 10 nations with the most negative scores on technological innovation were European countries.
Australia is the one country that made this grim list that is not from Europe.
Norway and Finland, which were once at the forefront with their technological innovation (i.e., where Nokia originated), are now part of the list.
Portugal and Spain are said to be falling more behind.
While Europe has fallen behind, Asia dominated the breakout list of biggest digital leaps. While Singapore remains in the top spot for being the most digitally innovative country, three Asian countries were considered the top breakout countries, or the countries that made the most significant jump in their digital progress. These countries are China, Malaysia and Thailand.
Data showing these giant leaps were generated using the four drivers of Internet growth: consumer demand, supply infrastructure, institutional environment and innovation. Past and present figures on these four factors were compared.
