THE GIANT AWAKENS
SME Magazine Singapore|Issue 10, 2021
In 1817, Lord Amherst, the British ambassador to China was returning to London when his ship sank. He was rescued by a merchant ship which stopped at Saint Helena.
Datuk William Ng

There, he met Napoleon Bonaparte who was in exile. Amherst regaled Napoleon with tales of the riches of China, to which Napoleon famously responded with “When China awakens, the world will tremble.”

Twenty years ago, China’s economy was about one-tenth that of the US. It is now expected to surpass the US as the world’s largest economy by 2026.

China already boasts more than 100 unicorns and has the largest number of annual patent registrations. Over 6 million new businesses were registered in 2020 despite the pandemic.

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