The Global Dominance of American Stock Markets Over the Past 120 Years: A Comparison with Other Major Economies

Despite China’s rapid growth in GDP, U.S. stocks have remained dominant in global investing for the past 125 years. This is largely due to New Deal-era regulations that brought stability to U.S. markets and made them appealing to risk-averse investors worldwide. Additionally, the U.S. benefits from more growth in publicly traded companies compared to China, where state-owned companies drive the economy.

However, history has shown that markets can be unpredictable, with Japan’s markets soaring in the late 1980s only to crash due to asset bubbles and excessive borrowing. As a result, U.S. stock bulls should not become overconfident and should remain vigilant about market fluctuations.

The article “An American century (and more) for stocks” featured in the April/May 2024 issue of Fortune highlights these points and provides breaking news alerts and stories from the newsroom for free for those who join the Fortune Features list.

By Aiden Johnson

As a content writer at, I have a passion for crafting engaging and informative articles that captivate readers. With a keen eye for detail and a knack for storytelling, I strive to deliver content that not only informs but also entertains. My goal is to create compelling narratives that resonate with our audience and keep them coming back for more. Whether I'm delving into the latest news topics or exploring in-depth features, I am dedicated to producing high-quality content that informs, inspires, and sparks curiosity.

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