Global IT Downturn Not Bad for China: Economist

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Last updated at: (Beijing Time) Thursday, December 05, 2002

Global IT Downturn Not Bad for China: Economist

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The global downturn in the IT industry has hit both domestic and overseas information technology enterprises, yet an article in the Beijing Youth Daily quoted a famous Chinese economist Wu Jinglian by saying that China can benefit from this.

At the just concluded IT Fortune forum 2002 which took place in China, renowned economist Wu Jingling said that the global downturn actually favors China and that it can bring China��s comparative strength into full play. Wu Jinglian says due to the global recession many international IT companies have moved their manufacturing bases to China because of its relatively low production cost.

Many skilled and knowledgeable technicians are returning from abroad, breathing fresh air into the entire IT industry in China.

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