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The integration of the digital economy and the real economy has been a key focus in promoting digital economic development. It denotes a comprehensive digital transformation of national economic activities regarding technological infrastructure and production modes, which is crucial for establishing a modern economic system, advancing industrial infrastructure and modernizing industrial chains.

Firstly, the study delves into the internal logic behind the emergence of the new development dynamic resulting from digital technology's evolution. Secondly, it explores the mechanism of mutual promotion and support between the new development dynamic and the digital economy based on China's shift in focus from international engagement to the domestic economy during different stages of industrialization. Subsequently, it analyzes the characteristics and critical factors of digital economy development and examines the macro-, meso- and micro-level constraints on these factors. Finally, the paper explores approaches to promoting digital economy development while constructing the new development dynamic and provides relevant policy suggestions.

The construction of the new development dynamic and the development of the digital economy are inextricably linked, and only by mutually reinforcing each other can they provide an inexhaustible impetus for China's high-quality economic development.

The new development dynamic and the digital economy development form an indivisible whole. The new development dynamic creates the necessary conditions for digital economy development and promotes the formation of digital production modes. In turn, the development of the digital economy should strive to improve the mainstay position of the domestic economy, enhance the synergy between the domestic economy and international engagement, upgrade value chains while improving the supply and the industrial chains in China and ensure a parallel increase in labor income alongside improved productivity.

Currently, China’s economy is in the critical phase of transforming economic development patterns and replacing old growth drivers with new ones. Whether it can successfully overcome the “middle-income trap” has become a significant issue attracting wide attention.

Driven by underlying digital technologies such as artificial intelligence, blockchain, cloud computing and big data, the fourth industrial revolution featuring the booming digital economy has provided significant opportunities for China’s economy to “overtake” and overcome the “middle-income trap”. The transformation of economic development pattern, the optimization of industrial structure, and the change of growth drivers, brought by the deep integration of digital and real economies are the keys to leaping over the “middle-income trap”.

From the supply side, the digital economy can improve the quality and efficiency of the supply side and promote the supply-side structural reform and economic growth from the following three aspects: First, promote the quality, efficiency and diversification of the supply system; second, promote networking, opening-up and synergy in the innovation system and third, promote the socialization, modularization and flexibility of production pattern. From the demand side, the digital economy can boost the new drivers of the “troika” of economic growth consisting of consumption, exports and investment by changing the market investment direction, promoting consumption upgrade and fostering export strengths. However, once these two attributes interact with each other, especially when data is combined with capital, the most adhesive factor in the market economy, a series of new social relations will then be produced based on the technical attribute, resulting in significant adjustments in social relations, involving both positive and negative externalities.

To overcome the “middle-income trap”, it is necessary to adapt to the laws of economic evolution and promote a fundamental change in economic growth drivers; boost the high-quality development of the digital economy by strengthening the support role of data in the digital economy; and accelerate digital industrialization and industrial digitalization to realize the integration of digital and real economies.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this paper is to provide a selective bibliography and examine the potential of the digital technologies, using an inter‐disciplinary literature survey that will contribute to academic and practical knowledge with regard to the understanding of the emerging forms of doing business and competition together with their developmental implications.

The paper examines a survey of a collection of papers that have been published before and after the new economy bubble. These writings then are classified under two main headings: the views of the (new) digital economy proponents and the sceptics. These two opposing approaches are compared and contrasted through the use of five sub‐sections: conceptualisation, driving force, spatial/developmental implications, industrial impacts of the digital economy, epistemological/methodological foundations.

The paper finds that claims about the world economy entering into a new phase of a virtuous capitalism or a new international division of labour are over‐exaggerated. A more balanced approach should take into consideration both the dynamics of change and continuity without underestimating the future potential of digital technologies.

This paper offers a critical assessment of the digital economy, based on an inter‐disciplinary literature survey that brings together pieces of work that have previously been analysed largely in a separate manner.

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is critical to assess their impacts on individual markets, the digital sector, and the overall European economy. The European Commission (EC) released an Impact Assessment in support of the DMA that purports to evaluate it using cost/benefit analysis.

An economic evaluation of the DMA should consider its full impacts on dynamic competition. The Impact Assessment neither assesses the DMA's impact on dynamic competition in the digital economy nor evaluates the impacts of specific DMA prohibitions and obligations. Instead, it considers benefits in general and largely ignores costs. We study its benefit assessments and find they are based on highly inappropriate methodologies and assumptions. A cost/benefit study using inappropriate methodologies and largely ignoring costs cannot provide a sound policy assessment.

Instead of promoting dynamic competition between platforms, the DMA will likely reinforce existing market structures, ossify market boundaries, and stunt European innovation. The DMA is likely to chill R&D by encouraging free riding on the investments of others, which discourages making those investments. Avoiding harm to innovation is critical because innovation delivers large, positive spillover benefits, driving increases in productivity, employment, wages, and prosperity.

The DMA prioritizes static over dynamic competition, with the potential to harm the European economy. Given this, the Impact Assessment does not demonstrate that the DMA will be beneficial overall, and its implementation must be carefully tailored to alleviate or lessen its potential to harm Europe’s economic performance.

Although only a small percentage of the world's population has access to the Web, its influence over the world economy and society is very high. It is possible to imagine a completely different economy from the industrial one, but the potential of information and communications technology constitutes a challenge for traditional economic thought. This paper explores the characteristics of the information society and the global economy from the perspective of the developing countries of Latin America, and the potential of the digital economy to transform social relationships both universally and locally. As Latin America is about to start its third century of political autonomy, the digital revolution provides a new opportunity to articulate that freedom of action and to exercise alternative strategies.

Digitalization has a profound impact on economies as a whole, and on sectors, businesses, and daily life. Digitalization is possible through development of a variety of digital technologies which led to creation of digital products and services in almost every sector. Almost all sectors benefit from digital technologies; however, there are also challenges about digitalization which encounters conflicts. These conflicts are either macro-level or related to digitalization of business processes. With efficient functioning of governmental policies, macro-level conflicts could be diminished or prevented. Conflicts arising from business process could be avoided by improvement of business relations.

Digitalisation has become a central theme in the current economic and policy debate. Large digital and tech multinational enterprises (MNEs) are gaining an outsized role in the global economy. Also, the adoption of advanced digital technologies across all industries is fundamentally changing production processes. Both these (interrelated) phenomena have profound implications for economic structures, employment, inequality and development and industrialisation opportunities. This chapter analyses the international production and investment (i.e., foreign direct investment [FDI]) implications of the digital economy. First, it empirically documents significant differences in internationalisation patterns between the largest digital MNEs and traditional MNEs; particularly, the tendency of digital MNEs to exhibit an asset-light international footprint. Second, it argues that the powerful transformational forces related to digital adoption and the new industrial revolution have the potential to change international production more broadly, favouring a shift towards internationalisation models characterised by decentralised production, accelerated servicification and extended disintermediation. The chapter concludes with investment policy implications and a number of questions for future research.

Despite servitization being widely regarded as an essential catalyst to improve manufacturing firms' survival and competitiveness, how to attain servitization remains debatable. The primary objective of this research is to explore whether or not, how, and when the dynamic capabilities affect servitization in the digital economy background. This research investigates the relationships between servitization and dynamic capabilities by incorporating firm ownership, firm lifecycle stage, digital economy level and environmental uncertainty as contingency factors in the research framework.

This research develops and verifies a conceptual framework for manufacturing servitization by employing the fuzzy-set qualitative comparative analysis (fsQCA) in analyzing the secondary longitudinal data from 148 China-listed manufacturing firms involved in servitization from 2015 to 2020.

The analytical results of fsQCA identify several configurational solutions for the success of manufacturing servitization. Each factor can be an enabler for servitization success despite none of the factors discovered as an absolute condition. Manufacturing servitization success within the digital economy depends on the interactions between dynamic capabilities and contingency factors such as digital economy level, environmental uncertainty, firm ownership, and lifecycle stage.

All of the construct's measurements in this research adopt secondary data, and further investigation calls for primary data (e.g. survey) for higher validity.

This research extends the current view of servitization by proposing an integrative conceptual framework, allowing manufacturing servitization to be examined more pertinently and comprehensively. Second, the research is an initial attempt that adopts fsQCA in servitization studies. The study sheds light on the mechanisms of attaining servitization by revealing the importance of dynamic capabilities and their interactions with the contingency factors. Third, the research extends the application scopes of dynamic capability theory, firm lifecycle theory, contingency theory, and institutional theory. Fourth, the research findings enrich the understanding of servitization in the digital economy and give business practitioners insights on leveraging dynamic capabilities in different conditions to attain successful servitization under the current circumstances.