I've written several times about what I believe to be the fallacy in thinking that goes roughly: "It doesn't matter if our manufacturing capability is lost (outsourced) or how much we import. Our future lies in our ability to be world leaders in the high-tech, new idea realms. Other nations will still need our leadership in cutting edge industries and that is our future."
China's Lenovo has become world's No. 3 PC maker
Company completes $1.75-billion deal for IBM division
May 2, 2005
BEIJING -- Chinese computer maker Lenovo Group Ltd. has completed its $1.75-billion purchase of IBM Corp.'s personal computer division, creating the world's third-largest PC maker, the company said Sunday.
The deal -- one of the biggest foreign acquisitions ever by a Chinese company -- is expected to quadruple sales of Lenovo, already Asia's biggest computer maker, the company said earlier.
"Within weeks, we will be introducing new products as the new Lenovo," Stephen Ward, Lenovo's CEO, said in a company statement without providing specifics."
Let's watch over the next few years as China, which has been amassing billions of U.S. dollars, begins to purchase other advanced manufacturing capabilities and informtion. These are all tiny chips at the base of a massive monolith, but eventually the base can't support the rest. Let's hope that those 27 percent of parents who do think that a college education is a good idea (see yesterday's article) provide enough leadership for our nation's future.