Saturday, July 23, 2005

For China, Valley Firms Just Got 2% Cheaper

From MercuryNews: For China, valley firms just got 2% cheaper

"Silicon Valley just went on sale, at 2 percent off, for anyone in China looking to buy companies here.
Thursday's revaluation of the yuan doesn't only make Chinese imports slightly more expensive for us. It also makes everything in the United States slightly cheaper for buyers in China.

The timing is crucial, because Chinese technology companies are now reaching the size and maturity where they want to join global markets by acquiring corporations elsewhere in the world.

China doesn't yet have the clout to go after the biggest and most successful companies in the valley, such as Apple, Hewlett-Packard, Intel and Oracle. But almost everyone else is fair game.

It's a matter of when, not if, China will start acquiring here."

""I think it's going to be a big trend, and it's going to happen soon,'' said Daniel Burstein, a partner with Millennium Technology Ventures in New York and a regular visitor to China since 1975."

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