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How Fortune 500 reveals long-term showdown between US and China

Not yet an economic superpower status, India's significance remains geopolitical

| China
The logo of Sinopec, China's state-owned energy giant and one of Fortune Global 500 members: of the 124 Chinese companies on the list, 84 are SOEs.   © Imaginechina/AP

Rupa Subramanya is a researcher and commentator.

In his first news conference since taking office, on Mar. 25, U.S. President Joe Biden squarely took aim at China.

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