News Desk. Competition between America and China regarding trade and technology is not a new thing. There has been a trade war going on between the two countries for the past several years, but America’s position on the technology front still appears to be very strong. China may be the world’s second largest economy, but when it comes to the global footprint and profits of the tech sector, it still has a long way to go.
America’s lead in the technology race
There are 62 companies in America whose annual net profit is more than $1 billion, whereas there are only 15 such companies in China. This figure shows America’s clear lead in the tech sector. These figures clearly show that it will not be easy for China to leave America behind. America will continue to dominate global technology, innovation and economic power.
America’s dominance in market cap
Out of the top 10 largest companies in the world, 8 are American tech companies. These include Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta, Tesla and Broadcom. The market cap of all these companies is more than $1 trillion.
America also ahead in innovation
Of the 10 most innovative companies in the world, 8 are from America. The innovation list includes American companies like ServiceNow, Workday, Salesforce, Tesla, Amazon and Netflix. Let us tell you that out of the top 25 innovative companies, 18 companies are from America. Strong research system, startup culture, and heavy investment give America an edge in innovation.
The way forward for China
China is investing rapidly in technology, but it still has a long way to go. America’s lead in advanced chips, software and global branding is a big challenge for China. Competition will intensify in the future, but at present America is ahead in the technology race.
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