5. China Plans To Build Its Own Silicon Valley
In case you have never heard the term ‘corporate unicorn’ before, it refers to privately held startup companies with a value of over $1 billion. And much like with the development of artificial intelligence, China is also leading the way. In 2018 alone, China boasted a total of 186 unicorn start-ups and is estimated to be funding 97 new unicorns, or one every 3.8 days, according to the South China Morning Post.
China is also looking to build its own high-tech center that could rival California’s Silicon Valley in the Pearl River Delta. Home to nearly 70 million people, it has been described as one of the most dramatic urbanization in human history. The Chinese government plans to unite what it calls the Greater Bay Area into a giant megalopolis.
