China Datapoint of the Day

Eight of the 20 biggest public companies in the world, by market capitalization,

are

Chinese. The US has just seven of the top 20.

To put it another way, China Mobile is worth more money than Microsoft, and

China Life Insurance is worth more money than Citigroup.

Is all this a consequence of the Chinese stock-market bubble? Well, yes. But

also: Welcome to the 21st Century.

(Via Abnormal

Returns)