The culture of consumerism tracks back to 18th century Europe. Back then, it was all about fun and acquiring novelties from faraway places. Now, it's China's turn, but in its case, Beijing has woven consumerism into state policy — it's how President Xi Jinping has plotted to take the country to the next stage economically and geopolitically.
What's going on: Big Chinese tech companies are expected to play a larger role in society than the U.S. champions — Apple, Amazon, Google, Facebook and Microsoft, which carry American technology globally but are purely private. If they want to keep operating, especially at their scale, Alibaba, Baidu and Tencent — known as BAT — must conform to effective political regulation.