China Overtakes US as Supplier of IT Goods

Ant writes "CNET News.com is reporting that 'after almost a decade of explosive growth in its electronics sector, China has overtaken the United States as the world's biggest supplier of Information Technology goods, according to a report by the Organization for Economic Cooperation and Development.' From the article: "The most spectacular demonstration of China's ambition to become a consumer electronics heavyweight came in May this year when Lenovo, the Chinese computer maker, paid $1.75 billion to buy IBM's personal computer unit."

Comments

Another sign of the US switching

[Anonymous Coward]

From a manufacturing base with huge exports of cars, military goods, computers, electronics and so on, to a services based economy.

Companies like GM, Ford, boeing are all being overtaken by European and Asian counterparts such as Airbus, Mercedes (who of course, recently took over Chrysler), Toyota and so on. Traditional industrial areas such as Arms manufacturing have been undercut by the European weapons giants FN and Heckler and koch, (the designers and makers of the next gen US army replacement rifle that will soon be replacing the M16.

IBM going to China, Chrysler going to Germany, Ford and GM opening plants in Mexico and Canada. America does not actually make that much stuff anymore (Germany remains the number one exporter in the world with China a close second).

But does that matter, is it no longer profitable for companies like IBM or GM to make product in America? Is the real money in IP, like with Microsoft, or with American Pharma giants like Pfizer? Or how does that explain companies like toyota opening up manufacturing plants in America? How does a service based economy provide the jobs necessary for 300 million people?