Friday, 11 June 2010
I came across a really interesting article on CNET about China's influence on global tastes in the motor industry. China has recently overtaken the US as being the biggest automotive consumer industry. You might think, so what? China is on the other side of the world but consumer demands in China reflects what the consumer gets in the US.
I found this to be really interest. CNET mentions that car manufacturers have coined the term - 'C-Factor' in relation to this new found influence. I think this speaks volumes of the new position Asian countries find themselves in - specifically China and Taiwan.
Traditionally, Japanese and South Korean businesses are reverred for their technological expertise and approach to economy and business. Everyone is well aware of the technological power houses that dominate the tech landscape: Samsung, Sony, Toshiba and LG to name just a few. But in recent years we have seen the rise of HP, Apple and Dell, Western technology companies that continue to thrive. However, even more recently we have seen the growth of two new East Asian countries within the technology market - China and Taiwan.
China's technology industry has recently been making a lot of headlines internationally due to the controversial tragedies at Foxconn, manufacturers of Apple products amongst many other products for leading technology companies. China's Lenovo PC manufacturer is now in the top 4 selling companies and will continue to grow.
Taiwan doesn't normally get the same amount of headlines as China but its technology industry is making business headlines as it continues to rapidly grow. Acer has become the second biggest computer manufacturer - leap frogging Dell to reach the coveted spot. Although this is somewhat dismissed by Dell (who wrongly or rightly claim it is profit not sale numbers that count), it is still a huge achievement. I guess what it shows is that the technology industry is a continually changing landscape. It will be interesting to see how/if the C-Factor and T-Factor affects other industries such as food, health and so on. Ultimately though, it will be interesting to see if these new companies can continue at the pace they are currently at and if they can stay ahead of the competition once they reach the top.
(Image credited to here)