The Chinese Dragon Versus the American Bison

China, having experienced the highest economic growth in the 21st century, is steadily expanding its global influence and stands as the only real contender to the United States for the position of a global superpower, encompassing political, military, and economic realms. This perception of China is not confined to analytical reports; it is observable in our daily lives. Gone are the days when China was solely associated with inexpensive “Made in China” products. Recognisable consumer electronics brands such as Xiaomi and Huawei have become commonplace. Moreover, it might surprise some that the Chinese dragon is voraciously acquiring well-known companies from around the world. Booking vacations at Club Med, using the iconic London taxis, purchasing Volvo cars, or staying at the luxurious Waldorf Astoria hotel in New York all contribute to the returns of Chinese investors. For those unfamiliar with the extent of China’s influence, it may be eye-opening to discover that popular Polish brands Krakus and Morliny are also under Chinese control.

Over the last two decades, China’s share in the global Gross Domestic Product (GDP) has doubled at the expense of the United States and the European Union. It’s no wonder that economists, until recently, engaged in a competition to predict when China would surpass the United States as the world’s largest economy. Just last year, Goldman Sachs published a report suggesting this could occur as early as 2035.