What about countries like China? Countries that are reluctant to change such as China, though they have a vast market. I wonder how projects deal with them so that they don't get themselves into an aforementioned vicious cycle.
it is not entirely correct to think that China is reluctant to change. the government simply does not know how to protect its market from such a huge financial leak. BUT it's literally the same as the US does too. Only the US does not have such problems as China and it has other opportunities, for example, they have launched futures. Will China be able to do this? Most likely not.
Of course, each country has its own obstacles to overcome in order to get a properly functioning economy. The way I see it if the US and China get behind this new idea more countries would follow. Embracing the change is one of the best ways to stay relevant and this isn't limited to bigger countries.