China doesn't have a company valued >1T USD, because there is COMPETITION.
They don't have one Apple, they have Oppo, Xiaomi, Huawei
They don't have one Tesla, they have BYD, Nio, XPeng, Li Auto
They don't have one Amazon, they have Taobao, Douyin shops, JD.
US trillion dollar companies are protected monopolies.
Might be cool for the shareholders, but consumers have to put up with shitty Pixel phones, buggy Windows, overpriced mid Teslas, and Facebook bot-slop.
Chinese consumers get better products for less money.

“China doesn’t even have 1 company valued > 1T USD.”
Now, isn’t this absolutely wonderful?!
The government ensures that wealth generated accrues to the workers, the country and her people and some to the shareholders.
When fairly distributed, some shareholders may become x.com/_mm85/status/2…

Rebecca Chan

Twitter

Author: Xie Zhaoqing, Tencent Finance "Deep Dive" The cryptocurrency market has given back all the gains brought by Trump's inauguration, experiencing an epic crash that has brought back the word "risk," temporarily forgotten by greed, to stare at all investors with its most menacing face.

Over the past week, Bitcoin experienced its biggest weekly drop in three years. February 5th was an unexpected day for crypto market investors: Bitcoin fell by 13%, marking its largest single-day drop since June 2022, and briefly dipped below $61,000 in the early hours of February 6th.

In this sharp correction...

Cryptocurrency Crash: Veteran Crypto Yi Lihua Loses $700 Million in a Week

Bitcoin mining difficulty has plummeted to its lowest level since 2021. Photo: DL News
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Bitcoin mining difficulty plummets, the sharpest drop since 2021.

Original article | Odaily Odaily(@OdailyChina)
Author｜Azuma (@azuma_eth)
In 2014, CZ, who had only been exposed to the concept of cryptocurrency for a year, made the most daring investment of his life—selling his apartment in Shanghai and "All In" on about 1,500 BTC for a three-figure price. Twelve years later, if CZ had never sold, this investment would have brought in a substantial profit of hundreds of millions of dollars (peak return of about $189 million).
Compared to the later establishment of Bina...