Here's yet another sign of China's exploding economic might: China now exports more information technology goods than the United States.
Last year, the Chinese exported more than $180 billion in information and communication technology goods, such as laptops, mobile phones, and digital cameras, while the second largest exporter, the United States, exported $149 billion, according to a new report by the Organization for Economic Cooperation and Development. Just three years ago, China trailed the United States, the European Union, and Japan.
Some countries can still take heart in the fact that China still runs deficits in smaller technologies, such as integrated circuits and other electronic components. But the United States isn't necessarily one of them; China's largest importer last year was Japan, followed by Taiwan, South Korea, and Malaysia.
Related Stories: | Topics:Management, globalization, China, United States, Technology, Science and Technology, Information Technology |
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Recent Comments | 4 Total
December 13, 2005 at 2:17am by ruchir
Just goes on to show that there is a paradigm shift... China in manufacturing (be it anything for that matter), and India in services (yeah! lot to be achieved) are taking leads.
U.S. should concentrate what its best in: Investment and Research.
December 13, 2005 at 11:04am by mahendrakumardash
China is taking export lead ,I agree.But today in one of my offices I saw around 40 PCs of HP manufactured in China.It includes printers too for which the company is famous for.The lead concept if seen and thought over then what you will say?Most of the multinational companies are having their plants in China because of low cost labour.And it is their business that blooms in reality.
December 13, 2005 at 11:08am by mahendrakumardash
I do not agree fully.Today in my office I saw around 40 PCs of HP manufactured in China.There lies my answer.US has lot of other things to do besides offshoring jobs.It may be innovation,may be R &D and the finishing touch which makes something marketable and lucrative.
December 13, 2005 at 11:29am by James Drudge
There can be little doubt that an economic dark age is coming for the U.S. The vast marjority of this nation's population still relies on manufacturing and service industry jobs for their income. As was previously noted thos jobs are moving overseas in search of cheaper labor. We'll soon have millions how are unable to feed their families because they're too proud to accept lower, competitive wages and corporations are too ashamed to offer those cut-rate wages to Americans...they simply don't want the backlash that Wal-Mart has been getting. Is it going to take another Great Depression before we see economic parady with the rest of the world?