Domo and CEO.com recently released an intriguing infographic focused on the shifting landscape around Global Fortune 500 firms around the world. As Josh James of Domo writes:
Domo and CEO.com researched a decade’s worth of data about the Global Fortune 500 to see how the Global F500 landscape has shifted over the past decade. The research showed that even though there’s been quite a bit of change due to globalization and innovation, much has stayed the same. For an interesting look at the data, check out our new infographic. — Josh James, Founder, CEO & Chairman of the Board
The Shifting Global Landscape
There are some intriguing changes worth mentioning in this infographic, but the most interesting change is evident over the past few decades. Over the past 20 years of so we’ve seen the United States’ dominance as “the” #1 World Power erode. Today, America seems to be coming to terms with the idea that it’s going to be duking it out for a spot in the top five.
Many of the financial market gurus I network with believe America’s #1 position as a World Power, at least from a financial perspective, is a lost cause. Taking a look at the inset graphic, their position seems justifiable. China rose from 6th to the 2nd position last year, in terms of countries with the most GF500 firms. With that kind of momentum is there any way the U.S. will hold on to position #1? (Note that this chart is showing only the number of GF500 firms, not economic strength… but it’s still a telling tale).
There are signs that the U.S. is waking up to the Global landscape, and taking action. For example, Domo’s infographic points out that last year marked the end of a decade-long decline in the number of GF500 companies from the United States. A good sign, but it’s still a “bottom of the curve” position.
In the meantime, China and Taiwan are experiencing phenomenal growth: Both countries representation on the GF500 has increased six-fold in the same decade.
Where’s It All Heading?
I believe the United States is at a critical juncture. It has been the number one World Power for a long time. It claims to have outlived almost every other democratic nation (though others may have better claim). But its position is rapidly eroding, and soon the U.S. may be the second, or the third, world power. As Americans start to realize this, they are looking around. We represent less than 5% of the world’s population, and the rest of the world has been watching us for a long time. The question is, how will America react to this changing world dynamic? Will it shift course, and become the global power it can become? Or will China and India overtake the U.S.? Whatever the outcome, the world is now global, and businesses operate on a world-wide scale. It’s a growth time. It’s an exciting time. And Hyrax is ideally positioned to guide, nudge, educate, and participate in that growth.