More than a week after new World Bank figures indicated that China would overtake the United States this year and become the No. 1 economy comes the news that, for the first time, the world's three biggest public companies and five of the top 10 in the Forbes Global 2000 List are Chinese.
American companies accounted for the remaining five on the top 10 list. The biggest U.S. companies were JPMorgan Chase and Berkshire Hathaway, in fourth and fifth place respectively, trailing Industrial and Commercial Bank of China, China Construction Bank and Agricultural Bank of China.
There are no European companies among the top 10. Royal Dutch Shell and HSBC Holdings, among the top 10 last year, have been edged out.