Source: The Economist: Schumpeter
AMERICANS can stop worrying about China’s plans to take over their country. The worst has already happened: on July 25th Lenovo, a Chinese computer firm, announced a deal to sponsor the National Football League. America will continue to provide muscle-bound linebackers, but the Chinese will provide the clever laptops and desktops that make their tussles possible.
Lenovo was founded in 1984 by 11 engineers at the Chinese Academy of Sciences who wanted to supplement their meagre stipends. It spent years building its business in China. But then in 2005 it burst onto the global scene—and rattled America’s Congress—when it bought IBM’s ThinkPad personal-computer business. The company is now the second-largest PC maker in the world and hopes to grab the top spot from Hewlett-Packard soon. Read the rest of this entry »