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The World's Economies Are Learning to Share

Aug 25, 2016 | 09:30 GMT
The World's Economies Are Learning to Share
Through its smartphone app, Uber allows users who want a ride to connect with drivers who will carry them where they want to go in their personal vehicles. It may be one of the most high-profile examples of the burgeoning sharing economy.
(QUIQUE GARCIA/AFP/Getty Images)

One of the most profound -- and potentially disruptive -- developments in the world's economy over past five years has been the rapid growth of the so-called "sharing economy." The technologically driven networks underpinning the concept, also known as the peer-to-peer (P2P) economy, have grown so much that many countries are trying to add P2P to their official gross domestic product data to better monitor the sector's development. Recently, a P2P technology platform was at the center of one of the largest acquisitions in China's history, when Chinese network transportation company Didi Chuxing agreed to acquire Uber's China operations for $35 billion. Technological advancements, specifically in communications, have already brought substantial changes to a number of sectors, and with continued double-digit growth, the P2P economy will transform more and more industries in the future....

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