Chinese firms take the helm
Abstract
Chinese multinationals have become de facto global leaders. In 2018, about 20% of the Fortune Global 500 firms were Chinese. China grew by leaps and bounds over a short period of time, mainly after the Global Financial Crisis (GFC). In just one decade, several new Chinese firms have become world leaders in their own industries. If we consider the five top leaders of eight industries, 40% of these firms are Chinese; there were none in 2004. This chapter also explores how Chinese firms must bridge development gaps in profitability, market capitalization, and geographic footprint compared to more established Western multinationals. European and American companies, for instance, dominate the list of the top ...
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