Internet Technology Development Boost China Further
Essay title: Internet Technology Development Boost China Further
INTERNET TECHNOLOGY DEVELOPMENT BOOST CHINA FURTHER
A perspective look at the countryЎ¦s transition in next decade relative to internet technology
Bo Li, School of Technology & Management
Submit to: Mr. Paul Reynolds
INTRODUCTION
Since 1980 ChinaЎ¦s economy has grown by more than 9 percent a year. The country now manufactures 75 percent of the worldЎ¦s toys, 58 percent of the cloths, and 29 percent of the mobile phones. More than $1 billion in foreign direct investment arrives each week. By 2008 China will be the worldЎ¦s third largest exporter, and by the decadeЎ¦s end its economy will be larger than that of either France or United Kingdom (Emmanuel, et al., 2004). ChinaЎ¦s GDP in 2004 growth by 9.5 percent to ўG851,072 million and IT(information technology)Ў¦s contributions account for 25 percent. It is predicted that the IT market will growth by 15.8 percent every year to 2009.
Economists are curious to know how long will ChinaЎ¦s strong economy be. When the advantage of low labor costs in China will subside in the future, what will support its fast growing economy? According to China Internet Network Information Center (CNNIC)Ў¦s 2005 report, 94 million internet user and half of them are using broadband connection. China now has 4 internet-based companies listed in NASDAQ. As they reported profit since the SMS business introduced in 2002, many economists think there will be an internet technology boom in China