https://www.ibtimes.com/ibm-china-pullback-1000-jobs-3740815
3 replies (most recent on top)
This situation was inevitable, and the fact that it's IBM is irrelevant. The Chinese have always focused on developing their own economy, rather than being dependent on outsiders. The Chinese would only buy IBM (or anyone else's) stuff to the extent that they could not acquire it from Chinese companies. As their economy grows, you'll see even less stuff purchased from IBM, by design.
This is a failure of globalism, nothing more. Milton Friedman got some things right in his life, but one of his big sc--wups was the promotion of global commerce as a replacement for nationalist interests. US and western companies have given away their entire stores and factories to get access to the Chinese market...but they gave it all up for a mirage. In the end, China will be supplied by Chinese people working in Chinese companies, run by Chinese managers who answer to the Chinese Communist Party. The US companies will be left out in the cold...like IBM.
Mainland China is basically a country run criminal enterprise
Kind of surprising IBM and China couldn't find more common ground.
Almost 20% drop in China business over the year - how did the IBM CFO hide this information for so long in the quarterly reports ?