When it comes to commerce tech, China is in its own world of innovation—one that much of the Western world hasn't even started catching up to.
Ecommerce is currently a trillion-dollar industry in China, and over half of the world’s eCommerce transactions take place in China.
Meanwhile, in 2021, the U.S. saw $870 billion USD in eCommerce sales. Canada saw slightly over $53 billion USD.
China’s leading tech innovation is a top reason for its place as a global commerce leader. Many of the world’s most popular social media and commerce platforms started in China first and then moved westward.
The most prevalent example: TikTok.
TikTok, first known as ByteDance and now Douyin, had hundreds of millions of users in China before it ever launched in the U.S. and Canada. ... (READ MORE)
