My Technology (and My Money) Go to China
According to the American Electronics Association, close to 750,000 high-paying jobs ($66,300 average salary) in the high-tech industry have left the U.S. in the last two years, and are going to low-pay countries like India and China. India is now the leader in computer-related jobs. Russian is currently the overall lowest cost provider of engineering services. China makes extensive use of prison labor in its bid to become the world's leader in electronics manufacturing. By mandating that a certain percentage of components in products sold into the country be manufactured in China, companies world-wide are transferring intellectual and physical high-tech property at break-neck speed. The first PC microprocessor is slated for production there in 2004, and is expected to eventually undercut Intel and AMD - quite an impressive gain for a country that a decade ago was barely into 1960s technology. Others will follow.