China is increasing its influence in global research and innovation through sustained investment in higher education, scientific research and technology. The expansion is supporting its ambitions to compete with established economies across industries including artificial intelligence, semiconductors, advanced materials and clean technology.
Between 2016 and 2025, the number of Chinese universities included in the QS World University Rankings more than doubled, rising from 30 to 72. China also secured two places in the global top 15 for the first time.
The country’s investment in scientific talent has also increased. China awarded more than 50,000 science, technology, engineering and mathematics PhDs in 2022, compared with nearly 34,000 in the US. This growing pool of expertise is helping support research and commercial development across a range of technology sectors.
China has also developed closer links between universities, laboratories and industry, allowing research to move more quickly into commercial applications. Its high volume of patent applications reflects the scale of its innovation activity, with the country increasingly focused on developing technologies that can compete with existing products.
Elsewhere, changes in US trade policy created significant disruption in international gold markets during 2025. Tariff uncertainty contributed to a widening price difference between London and New York, creating opportunities for banks to buy physical gold in the cheaper market and sell it where prices were higher.
At one stage, gold traded for more than $90 an ounce higher in New York than in London. Financial institutions responded by moving bullion across the Atlantic, with some shipments routed through Switzerland to have bars re-cast into formats suitable for US vaults. The price difference subsequently narrowed as trading activity responded and tariff policy changed.
The employment market is also undergoing changes as businesses adopt artificial intelligence. Recent graduates in the US are facing increased competition for entry-level positions, with unemployment among those aged 22 to 27 reaching 4.8% in mid-2025, compared with 4% for the wider population.
The growing use of AI is changing the requirements for many graduate roles, particularly in finance and technology. Tasks involving data collection, transcription and basic analysis can increasingly be automated, reducing demand for some traditional entry-level positions.
Employers are placing greater emphasis on AI-related skills, while job applications per available position have increased. Although automation could displace some existing roles, it may also create new employment opportunities as businesses adopt the technology.
These developments demonstrate how investment in technology, government policy and automation are influencing competition, financial markets and the future of work.
Ruffer Investment Company Limited (LON:RICA) is a British investment company dedicated to investments in internationally listed or quoted equities or equity related securities
