China’s sharing economy could run into trouble

From homes, offices, bikes, power banks, umbrellas and even basketballs, start-ups in China are now taking the concept of sharing into a new level as the world’s second-largest economy embraces the new economic model much faster than any other countries. China’s State Information Center estimated that the value of the so-called “sharing economy” could grow by 40% annually over the next few years, accounting for over 10% of the country’s gross domestic product by 2020, and create a…