Sometimes, when looking at the things that have been lying around for a long time in our lives, we probably realize that those items may be useful to others. With the development of the internet, online communities have figured out a way to generate profit from the sharing of those underused assets. Using websites and social media platforms that facilitate the buying and selling of second-hand goods, it is now easier than ever for peer-to-peer sharing activities to take place. And this is what we call sharing economy.

One of the things consumers appreciate when using or working in the sharing economy is the flexibility. It offers services to people when and where they want them. For those who don’t care for traditional office work, sharing economies do not require professional working environments, so there is no need to put yourself in an atmosphere that unfits for your personality. It allows people to choose flexible atmosphere to work remotely instead of in one physical office space.

A sharing economy helps consumers to earn money by renting out underused goods or resources. For example, you can rent out a home using Airbnb, expensive tools from one’s garage, cars, or even sharing the groceries before going on a holiday. All of these provide a way for items to be resold and repurposed instead of just thrown away. Therefore, it helps to reduce waste and make or save money for the provider and users.

But the sharing economy is not without criticisms. The sharing economy is developing faster than existing regulations or ongoing supervision. One downside is that in many cases there is a lack of regulation to check the products and services exchanged during these deals. Unlike formal companies, unregulated individuals do not follow certain regulations and this can lead to poorer and inconsistent quality of goods and services and a higher risk of fraud. For example, hotels are inspected to assure quality, whereas some apartments for short-term rental online are not. The digitally-driven peer-to-peer nature of the sharing economy services sometimes doesn’t match well with certain regulations, which on the other hand, helps keep the provided services more affordable.

Another problem is related to safety concerns. Most sharing economy platforms are based on trust, as well as ratings by guests and hosts. But sometimes it happens that one uses a car, or rents an apartment and it is totally different than one imagines. After all, we have heard some unpleasant tales of guests and hosts.

The sharing economy definitely has its lovers and haters. Many are not ready to switch to that model, where others are already using more than four platforms in their daily lives.

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Coupons-good way to boost consumption

In an effort to boost consumption and counter some the of the negative impacts of the novel coronavirus outbreak on the economy,authorities in more than 30 cities have distributed consumption coupons(优惠券)among local residents.Given that a better part of China’s economy is now mainly driven by domestic consumption,issuing consumption coupons should be seen as an ingenious way to help stabilize the economy.

The outbreak has sharply reduced consumption in the tourism,retail,catering,”cultural and entertainment industries in the first three months of this year,increasing the risk of unemployment.As for the impact of the outbreak for the entire year,it depends on whether consumption in the coming months would make up for the decline of consumption in the first quarter,in particular,the Spring Festival period.

The expected increase in consumption, especially in the durable goods sector, after the outbreak is effectively contained could partly balance out previous losses. But still it would be impossible to see a consumption spree(消费热潮)similar to that during Spring Festival.

Rising exports could possibly make up for the decline in domestic consumption.But net exports are not likely to rise this year because many countries have shut down their airports and seaports,and locked down cities to prevent the spread of the virus.

As such,the authorities have to boost consumption using whatever means.And as consumption is influenced by three factors-people’s income,confidence,and price of goods and services-the authorities should first reduce the epidemic’s negative impact on people’s income,by ensuring they have enough money spend.Second,they should boost people’s confidence so they dare to spend more.And third,the authorities should stabilize prices to encourage people to increase consumption.

Consumption coupons are a good way to achieve all the three goals. Issuing consumption coupons is similar to increasing people’s income and promoting consumption, because the coupons can be used to buy goods and services.

Many local authorities have even issued electronic consumption coupons through third-party payment. Such coupons are highly efficient,convenient,and easy to track.And since they also ensure equality and fairness,they are a good example of the important role digitalization plays in China’s social and economic governance.

The consumption coupons the local authorities have issued until now are mainly to boost the catering industry,obviously because the outbreak has dealt the industry a big blow.But the authorities should consider broadening the scope of the coupons in the future to further increase consumption by,say,issuing coupons that can be used in more sectors,including those for buying home appliances.

Moreover,the authorities could also combine e-coupons with targeted printout coupons for impoverished groups,extend the validity period for the coupons.But in general,the consumption coupons will play an active role in boosting domestic consumption this year.

“What kind of rubbish are you?” This question might normally provoke anger, but in Shanghai it has elicited weary groans over the past week. On July 1st the city introduced stringent trash-sorting regulations that are expected to be used as a model for the country.

Residents must divide their waste into four separate categories and toss it into specific public bins. They must do so at scheduled times, when monitors are present to ensure compliance (and to inquire into the nature of one’s rubbish.) Violators（违反者）face the prospect of fines and worse.

Shanghai authorities are responding to an obvious environmental problem. It generates 9m tonnes of garbage a year, more than London’s annual output and rising quickly. But like other cities in China, it lacks a recycling system. Instead, it has relied on trash pickers to sift through the waste, plucking out whatever can be reused. This has limits. As people get wealthier, fewer of them want to do such dirty work. The waste, meanwhile, just keeps piling up. China churns out 80bn pairs of disposable chopsticks a year.

The threat of punishment is integral to Shanghai’s drive. On the first day of enforcement, the government sent 3,600 city-management officers, a quasi-police force, to 4,216 rubbish-collection points. They began by making an example of wealthy foreigners: the first warning was issued to Swissôtel Grand, a five-star hotel, for improper sorting. Individuals who fail to recycle could be hit with fines of up to 200 yuan ($29). For repeat violators, the city can add black marks to their credit records, making it harder for them to obtain bank loans or even buy train tickets.

Some object to this. Peng Feng of the Shanghai Academy of Social Sciences warns that the use of the credit system is overkill, raising a risk that officials will abuse their power. But others say a tough campaign is necessary. “Slowly people will get used to it,” says Li Changjun of Fudan University. Many residents appear to support the idea of recycling in general but are frustrated by the details. Rubbish must be divided according to whether it is food, recyclable, dry orhazardous, the distinctions among which can be perplexing, though there are apps to help work it out.

Some have complained about the rules surrounding food waste. They must put it straight in the requisite public bin, forcing them to tear open plastic bags and toss it by hand. Most vexing are the short windows for dumping trash, typically a couple of hours, morning and evening. Along with the monitors at the bins, this means that people go at around the same time and can keep an eye on what is being thrown out; no one wants to look bad.

But it is inconvenient. “People have to get to work. We don’t have the time for this,” said Mr Wu as he threw out rubbish outside his apartment building. To your correspondent’s untrained eye, his sorting looked impeccable.