China’s Second-Tier Cities Catch Investors’ Eyes – Ian Johnson
Dalian may be the Chinese city that has the best chance of challenging Bangalore, and it certainly looks a lot more like Silicon Valley than Beijing does, with its seaside fresh air and green boulevards. Now it hosts an Intel plant. From the Wall Street Journal:
A decade ago, this northern port city was known mainly for its spectacular seaside scenery — and rust-belt industries. About 200,000 workers a year here were losing their jobs.
This past weekend, U.S. computer-chip giant Intel Corp. broke ground here on a new $2.5 billion factory that will employ 1,200 workers. The facility, which is expected to make chips for both domestic use and export, is the first such plant Intel has built in a developing country.
Last week, Dalian hosted one of the World Economic Forum‘s biggest gatherings outside its home base in Davos, Switzerland. The three-day conference attracted business leaders from around the globe. [Full Text]
[Image: sketch of the planned Intel plant in Dalian, via wsj.com]