China’s Marijuana Surprise
Despite a long anti-drug crusade, Beijing is positioned to be a major player in the cannabis market.
An economic stir is happening in China, but it’s in an industry you might not expect. With more than half of the 600 relevant patents filed with the World Intellectual Property Office now owned by Chinese companies, the country is well positioned to dominate the global cannabis market. Which is very surprising for a nation where drug trafficking is still punishable by death and mere possession of the substance can result in a lengthy spell behind bars.
Chinese investment in the cannabis market could not be more perfectly timed, as countries like the U.S. and Uruguay begin to experiment with decriminalization. Medical marijuana research has surged over the last decade as medicine and finance have coalesced to legitimize the business of cannabis. The fervor for the war on drugs that has for decades...
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