Is China’s Economic Dominance at an Inflection Point?

In 2019, we predicted that China would likely account for more companies on the Fortune Global 500 list than any other country. That seemed like a bold prediction at the time, given that American firms had held the number one position since the list’s inception in 1995 and the U.S. economy was 50% larger than China’s. But just one year later, in 2020, China did indeed top the list, with its 124 firms edging out the U.S. at 121 (see here for the Fortune Global 500 data).