The trend of globalization in the U.S. has led to rising competition by foreign multinational companies in emerging markets. These markets are known as the "BRICs" which are Brazil, Russia, India and most notably China (all of these developing countries are expected to dominate the world economy by 2050). The fastest-growing market in the last past two years was China, with its new multinational firms like Lenovo, which is now the third-largest personal computer company with revenues exceeding the $13 billion, after Dell and Hewlett-Packard, since its IBM computing acquisition in April 2005.
On Wednesday, April 25, The Weisman Center for International Business and the Zicklin School presented the Mitsui Lunch-Time Forum, covering Lenovo's current process and challenges of growing globally with James P. Shaughnessy, Senior Vice-President and General Counsel for Lenovo. Mr. Shaughnessy joined the company in July 2005, bringing with him more than 20 years of expertise in the computing industry from working for PeopleSoft, Compaq and Hewlett-Packard to name a few.

30-04-2007 |  137 Hit(s) | (0 vote)

Lenovo will be a major sponsor of the 2008 Olympics. The Chinese PC company which bought the personal computer assets of IBM (IBM) will use its elevated visibility to accomplish two goals. The first is that it has 35% of the PC market in China. Dell (DELL) and Hewlett-Packard (HPQ) would like a larger piece of that, and Lenovo aims to fight them for it. China is especially important to the flagging Dell. It recently launched a PC there that retails for just over $300.

30-03-2007 |  112 Hit(s) | (0 vote)

Just when the public thought they could relax after the carcinogenic "red yolk" eggs and turbot fish health scares, a new food security scandal has erupted over "fake" wines sold in China.

CCTV reports the State Food and Drug Administration last year issued a document that revealed many Chinese wines contain more than the maximum allowable volume of food additives. Even worse, CCTV's own investigation found many wines consist of little more than water, pigment and alcohol, with trace amounts of grape juice.

The CCTV reporter uncovered the "fake" wine scandal when investigating an extremely cheap wine produced in Minquan County, Henan Province. It looks just like other wines in terms of packaging and color, but it is more than 90 percent cheaper than most wines with a retail price of just one or two yuan.

When he interviewed the seller, the reporter discovered the wine is popular with wholesalers in other parts of China though locals reject it.

The reporter then investigated the local Xuming Wine Factory where the wine is produced. An official at the factory revealed the wine can be sold so cheaply because it is not produced from pure grape extracts, as stipulated by the national standards. Instead, the factory cuts costs by mixing a small volume of grape extract in a lot of water.

Five other local producers produced low quality wine through the same process, but all of their "fake" wine passed the local food safety administration's test.

Substandard wine was also discovered in Yantai in Shandong province, one of the largest wine-making regions in China.

06-02-2007 |  83 Hit(s) | (0 vote)

Lenovo, a computer manufacturer with U.S. headquarters in Morrisville, is jumping into Formula One racing as a major sponsor of the AT&T Williams team in this year's Formula One World Championship.

Lenovo made the announcement as the team rolled out its 2007 race cars at its headquarters near Oxford, U.K.
 Lenovo, a China-based maker of personal computers, will provide PC technology for the team's use throughout this year's Formula One events. That includes not only races, but also car research, development, testing, and practices.

05-02-2007 |  103 Hit(s) | (0 vote)

China’s authorities have eventually updated the list of ingredients that are prohibited or restricted for use in cosmetics placed on the market.

05-02-2007 |  568 Hit(s) | (0 vote)