Tech Companies Facing a Catastrophic Collision

Tech

Tech Companies Facing a Catastrophic Collision

Technology is the collective term for many of the new and old technologies that are vastly changing the way we live our lives. A closer examination shows that technology is truly a wonderful thing. For example, how did music reach the level of worldwide popularity it enjoys today? What has changed in technology that has made communication so much easier? And what can we expect in the future?

As everyone is aware of, technology is growing at an unbelievable rate. By simply watching television, reading a book, or surfing the Internet, one can quickly observe that the number of technological advancements has dramatically increased over the past decade. In fact, the fastest pace of technological change is being witnessed right now in China. According to estimates, China has the most computerized human being in the world – approximately 7.5 billion people. At this point, one might wonder how China managed to collect so much information on its residents without creating a mega data center. The answer is that they have a large number of local IT specialists who use their computers and telephones to gather, sort, organize, and process massive amounts of information, much of which is stored in what is called the local computer databases.

According to statistical data, nearly three-quarters of the world’s two-hundred million high-tech enterprises are located in China. In addition to providing workers with the latest in communications technology, China’s information technology companies also contribute to the global economy. Today, there are approximately six billion people that use telephones and Internet on a daily basis. That translates into a tremendous amount of commerce that transpires each and every day between China’s customers and businesses.

Because of the sheer number of products and services available from China’s manufacturers and suppliers, the country’s consumers and businesses have a wide variety of options when it comes to purchasing electronics and technology. In fact, it is estimated that China manufactures the majority of the electronic products in the world, including televisions, computers, and mobile phones. Additionally, China’s manufacturers have become some of the world’s top producers of many different types of technology, including medical equipment and consumer goods. Many of these goods are exported to the United States and other markets, resulting in American consumers receiving technology that comes straight from China. As a result, the US loses out on experiencing a reduction in the purchase of Chinese goods and technology, while China increases purchases of US goods and technology, causing a net loss for American companies and businesses.

Unfortunately, America’s competitive edge and need for global competency has resulted in our tech companies being forced to downsize or close down their operations in China due to the enormous amount of China’s electronic products. China is not just a supplier; it is a vital partner that must be included in any long-term strategy that seeks to utilize China as a manufacturing base. Because China is such a large player in the global marketplace, America’s inability to keep up with the Chinese manufacturers and technology companies will undoubtedly result in a reduction in innovation and a loss of technological edge.

For years, China has been a strong market for American tech companies, but this trend will only continue if our leaders do not address the issue head on. We must be honest about our fears and be willing to make changes that will truly improve our nation’s ability to compete. If we do not, our economy and our society will suffer as our superpower allies leave us in their dust.

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