"Data is Oil" is the Biggest Misunderstanding of the Digital Economy

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Data has become a production factor similar to land, labor, and capital. Local governments have planned and built data centers one after another. However, if there is a lack of in-depth understanding of data elements and scientific planning of data centers, the idea of "Data is Oil" may become a nightmare of the digital economy, and the date of completion of the data center will be a time of backwardness. The article explored the relationship between data and wealth growth in the digital economy, and pointed out that data flow is the key to social wealth creation. Data privacy protection and value mining are closely related to application scenarios. Therefore, formulating scientific, sustainable and active data policies should be the primary task that local governments need to solve. Advanced data policies and property rights systems are the fundamental driving force for regional economic growth.
Translated title of the contributionHow to use data to promote the growth of the digital economy?
Original languageChinese
Pages (from-to)45-47
Number of pages3
Publication statusPublished - Aug 2020

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