Home > Current Events, Economy, Engineering, Technology > Tech drain – from the U.S. to China

Tech drain – from the U.S. to China

The NY Times reports that “American companies like Applied Materials are moving their research facilities and engineers to China as the country develops a high-tech economy that increasingly competes directly with the United States.

Applied Materials set up its latest solar research labs in China after estimating that China would be producing two-thirds of the world’s solar panels by the end of this year and their chief technology officer, Mark R. Pinto, is the first CTO of a major American tech company to move to China. ‘We’re obviously not giving up on the US,’ says Pinto. ‘China needs more electricity. It’s as simple as that.’

Western companies are also attracted to China’s huge reservoirs of cheap, highly skilled engineers and the subsidies offered by many Chinese cities and regions, particularly for green energy companies. Applied Materials decided to build their new $250 million research facility in Xi’an after the city government sold them a 75-year land lease at a deep discount and is reimbursing the company for roughly a quarter of the lab complex’s operating costs for five years.”

READ MORE…

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: