Although the U.S. still hosts the lion’s share of Global 500 corporations, there are 132 U.S.–based businesses on this year’s list, compared with 133 last year, and 197 a decade ago. The number of European firms fell to 161 from 172 in 2011.
More emerging Chinese consumer brands may increasingly overtake Western firms as the middle-class of the Asian economy grows, Fortune said in the July 9 issue in which the list was published. Names like computer manufacturer Lenovo (No. 370) and carmaker Zhejiang Geely Holding Group (No. 475), which boosted revenue by 126 percent last year after acquiring Volvo from Ford, will gain in prominence over the next few years.
“Companies like Lenovo and Geely cut their teeth selling ‘good enough’ products at low prices to middle-class Chinese consumers,” the magazine. “After studying (and, increasingly, buying) Western competitors and exploiting Chinese manufacturing efficiencies, they are now poised for global market gains.”Page 2 of 3 | Prev Page | Next Page