g-f(2)89 THE BIG PICTURE OF THE DIGITAL AGE, WSJ, China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment

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Extra-condensed knowledge

China overtook the U.S. as the world’s top destination for new foreign direct investment last year, as the Covid-19 pandemic amplifies an eastward shift in the center of gravity of the global economy.

• New investments by overseas businesses into the U.S., which for decades held the No. 1 spot, fell 49% in 2020, according to U.N. figures released Sunday, as the country struggled to curb the spread of the new coronavirus and economic output slumped.
• China, long ranked No. 2, saw direct investments by foreign companies climb 4%, the United Nations Conference on Trade and Development said. 

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Category 2: The Big Picture of the Digital Age

[genioux fact produced, deduced or extracted from WSJ]

Type of essential knowledge of this “genioux fact”: Essential Deduced and Extracted Knowledge (EDEK).

Type of validity of the "genioux fact". 

• Inherited from sources + Supported by the knowledge of one or more experts.

Authors of the genioux fact

Fernando Machuca

References

China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment, Paul Hannon and Eun-Young Jeong, Updated Jan. 24, 2021 7:40 pm ET, The Wall Street Journal, WSJ.

ABOUT THE AUTHORS

Paul Hannon 

Reporter, The Wall Street Journal

Twitter account

Eun-Young Jeong

Reporter, The Wall Street Journal

Eun-Young Jeong is a reporter for The Wall Street Journal based in Seoul. She covers general and corporate news from Korea, including topics on corporate governance, North Korea and regulations. You can reach her by email at eun-young.jeong@wsj.com and follow her on Twitter at @_eunyoungjeong