This question revolves around whether emerging crypto markets might be compared to a young silicon valley in its infancy. Whether china is well positioned to capitalize on growth potential, in order to someday become renowned worldwide as a hub of global crypto based trade and commerce.

China hasn't done much to nurture its cryptocurrency or crypto mining industries. Which could be said to depend heavily upon innovation, new ideas and small start ups. Their approach has been more top down big business. They own bitmain, and a majority of bitcoin's mining hashrate. But have not done much to empower smaller less established crypto players who could be considered the largest sector of future growth.

This could mean that in the future, other countries who do more to support small business in crypto will overtake china and pull ahead.