The new geopolitics of global business
China and America dominate like never before. "Instead, only America and China have been able to marshal the process of creative destruction. Of the 19 firms created in the past 25 years that are now worth over $100bn, nine are in America and eight in China. Europe has none. Even as mature tech giants like Apple and Alibaba try to entrench their dominance, a new set of tech firms including Snap, PayPal, Meituan and Pinduoduo are reaching critical mass. The pandemic has seen a burst of energy in America and China and a boom in fundraising. Firms from the two countries dominate the frontier of new technologies such as fintech and electric cars."
From The Economist