Editor's Note: Tom Fowdy is a British political and international relations analyst and a graduate of Durham and Oxford universities. He writes on topics pertaining to China, the DPRK, Britain, and the United States. The article reflects the author's opinions, and not necessarily the views of CGTN.

The news was released Tuesday that China's number of "unicorn" startups – defined as a start-up business with a value of over 1 billion U.S. dollars, overtook America's total and obtained the world's number one spot. According to the Hurun Global Unicorn list, China now possesses 206 of these firms to America's 203. The two economic giants make up over 80 percent of the world's total, with India trailing in a distant third place with only 21.

In conjunction with this, Beijing was also crowned as the world's "unicorn capital," having 82 of such firms compared with other cities. Beating American hubs such as San Francisco and New York City, this total puts China's capital in reach of matching the entire Silicon Valley region which has 102 of such firms.

This is, of course, an unprecedented achievement by China. Undoubtedly, it is also a sign of yet greater things to come. Whilst naturally in the current climate, the media are pouring doubt as to whether China can sustain such success amid trade turmoil and technology blacklistings, with the uncertainty making some investors hesitant and nervous.

Nevertheless, in the long run it remains true that China's global market and business appeal will easily extend the sphere of the United States and this is a trend that cannot be reversed. If Beijing can demonstrate its ability to innovate strategic technology beyond U.S. dependency and maintain stable ties with growing export markets, the number of its "unicorn"startups will keep growing unabated as an irreversable trend. Thanks to Washington, the global economy is in a state of uncertainty and is not favorable to business. The world's largest economy effectively commenced an all-out offensive against the world's second largest economy. This has sent jitters in markets around the world and accumulated in an all-embracing slowdown which is hurting numerous countries including the U.S. itself.

In doing so, Washington has not only pursued tariffs against Chinese exports but has also sought to blacklist its most successful technology firms from the U.S. markets. This has undoubtedly caused uncertainty and anxiety among Chinese investors. Given so many "unicorn" startups are based in the tech sector, and have been funded by conglomerates such as Tencent, Alibaba and Didi, this has become an amplification of political-based business risk, which has seen in turn venture capital deals in China decline this year amid the uncertainty.

However, the clock cannot be turned back. If politicians in Washington believe that China can be placed back into a "box" of subordination to the United States, they are wrong. This "unicorn" startup statistic alone thoroughly demonstrates how China is eclipsing the United States in the global business sphere. This comes without the country not yet having fulfilled its full potential in terms of development and income per capita. In other words, China is starting to hold its own whilst still being a developing country.

But in this climate, what does China's business and start-up environment need to move forward? Washington is of course trying to throw in a few roadblocks; in turn China's biggest challenge is how to become independent from the United States. As we are talking about big technology companies, this requires two major factors 1) China's ability to innovate and thus supersede American key components so as to create a "technology ecosystem" of its own, and 2) The continued nurturing of replacement markets throughout Europe, Asia, Africa, the Middle East and Latin America.

There are many factors which can ensure this is a success. Going back above to "potential" – one cannot ignore that China's domestic market will continue to grow and thus surpass Western ones, meaning in turn the flow of FDI from around the world, including the U.S. will continue. This means a favorable environment for research and innovation will also persist, supported by sustained state investment.

In addition, China's economic ties with the rest of the world will continue to grow favorably, with Beijing holding the upper hand in accessing emerging markets in Africa, Southeast Asia, the Middle East and Latin America. As these countries grow, the U.S. as a single export destination is becoming increasingly obsolete.

On the whole, whilst there may be contemporary challenges, China's "unicorn" start-up total is a sign of things to come. With more young and overwhelmingly successful businesses than anywhere else in the world, China is without a doubt establishing itself as a world leader in enterprise. Attempts to turn back the clock are unlikely to succeed.

(If you want to contribute and have specific expertise, please contact us at opinions@cgtn.com.)