Sharing economy is on an exponential growth in China.
Chinese startups have launched sharing services for right from cycles to umbrellas (yes! umbrellas), concrete mixers, mobile phone power banks and even basketballs !!!
And these aren't marketplaces - but inventory driven model (i.e. company owns the inventory and consumers can rent it out).
Are these just 'bad ideas' or a disruptive force?
The Chinese government sees promise in sharing. It estimates sharing last year accounted for $500 billion in transactions, and projected it would account for 10 percent of China’s economic output by 2020 (via).
Is rental economy at this scale a big fad? Or a new reality?
Will such ventures ever hit profitability (given that there are issues of theft / mishandling)? Will India ever reach this level of sharing / renting?