Europe is beginning to feel threatened by China’s growing dominance in the high-tech sector, according to a new report by the European Union: “The annual ‘competitiveness report’ by the European Union’s executive commission warns that China is ‘turning itself into a low-cost competitor in high-skill industries’. The lesson for companies in the West is that they must pour funds into research and development, and continually adapt, if they are to fend off the seemingly unstoppable rise of China. ” The full AFP story, via Channelnewsasia, is here.
Europe wakes up to China as high-tech rival
Posted by Sophie Beach | Nov 28, 2004
