China’s Lenovo has been on a big buying spree. Last week, it snapped up IBM’s low-end server business for $2.3 billion. Then the PC giant followed that up with a $2.9 billion grab for the Motorola handset business from Google. That’s $5.2 billion of acquisitions in a few days. Not bad.
Why the binge? The deals tell us quite a bit about where Chinese industry finds itself right now. Though China is a manufacturing behemoth and the world’s top trading nation, it also finds its competitive position in the global economy changing rapidly. The low costs that had been the foundation of Chinese industrial competitiveness are history as wages rise. So now Chinese companies will have to compete head-to-head with their international rivals on technology, managerial skill and branding.
Some Chinese firms are doing just that, such as telecom equipment maker Huawei. But overall, Chinese industry lacks the know-how…
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Maria Shriver’s annual report on Women in America came out Sunday, and the findings are bleak.
“These are not women trying to ‘have it all,'” Shriver wrote in the introduction to the report, which was co-sponsored by the Center for American Progress. “These are women who are already doing it all — working hard, providing, parenting, and care-giving. They’re doing it all, yet they and their families can’t prosper, and that’s weighing the U.S. economy down.”
Here’s what we learned from the in-depth report on how women are doing in post-recession America.
- 1 in 3 American women, 42 million women, plus 28 million children, either live in poverty or are right on the brink of it. (The report defines the “brink of poverty” as making $47,000 a year for a family of four.)
- Nearly two-thirds of minimum wage workers are women, and these workers often get zero paid sick…
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