Among other things, China's innovation now leads the on-demand mobility revolution with more and more electric vehicles and… bikes.
While I was already forewarning my customers in luxury, automotive, energy, and retail for years, this is hopefully obvious for everyone.
The country's size, the problems it faces with pollution and demography, and the rapid growth of its economy have all shaped it to be the most transformative force on the planet. Industries and startups still dreaming of California as THE innovation template are looking in the rear mirror. Twenty of the biggest internet companies by market capitalization are now in China, while only 11 are in the US (five years ago, it was two versus 9).
These next years will be both thrilling and quite challenging for Western innovators.