Right from the beginning of the 21st Century, many countries had started competing with the American economy and aimed to beat it in the coming years but none of the efforts turned out to be as fruitful as the countries had expected them to be.
Everything was looking to be in favor of the European and American economy until Donald Trump was elected as the 45th President of the United States of America. From that point, the stakeholders started to grow concerned, and with Donald Trump’s constant criticism, alleging the Chinese Government in using their cyber-army to sabotage the economic welfare and security of their assets, started losing support from many countries who had always been on America’s side no matter the decisions the decision they made.
Then in 2009, the cryptocurrency-blockchain industry was introduced to the entire world that shook the entire economic ecosystem with its potential and tendency to bring in reforms for every sector currently operating in any country.
While the entire world has recognized the value and importance of the cryptocurrency and blockchain technology and has started integrating it into their financial and other information related sectors, the American Government seems reluctant to accept the blockchain industry’s contributions towards the investment and hedge funding markets.
Then in 2020, the entire world was struck by COVID-19, and a state of emergency was enforced throughout the globe to contain the coronavirus. This left hundreds of companies to remain shut for months resulting in mass unemployment. While the American nation was trying to figure out a way to keep food on their tables, China’s economy started going up as many people (especially youngsters) started to move to the online trading and cryptocurrency-blockchain platforms, which helped them remain stable.
Out of all the countries around the world and from the list of largest countries with respect to the economy, China, with its economic network spreading across the Asian continent, seems to be attracting many foreign investments and outsourcing opportunities from other continents.
One of the most prominent investment firms known as Baillie Gifford has just announced that it will be increasing its investments in China to expand its operations in Shanghai in order to conduct research in the local regions.