We discuss how China is advancing in the tech race and how two Chinese tech giants built their ecosystems. With the growing influence of the Chinese tech giants in SE Asian markets, we expect that local incumbents with a strong franchise and large footprint could be beneficiaries as either a partner or acquisition target of such tech ecosystems. We name Go-Jek as a potential first true Indonesian ecosystem. We also point to warning signs that innovation can drive the rise of destructive monopolies and that governments may step in to curb their power.
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