China Overtakes U.S. as World’s Leading Destination for Foreign Direct Investment

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.

2, saw direct investments by foreign companies climb 4%, the United Nations Conference on Trade and Development said.

The 2020 investment numbers underline China’s move toward the center of a global economy long dominated by the U.S.—a shift accelerated during the pandemic as China has cemented its position as the world’s factory floor and expanded its share of global trade.