The managers started by explaining how emerging markets have shifted over the last few years. It has moved from a focus on energy and materials to information technology. They feel that Asia and Emerging Markets will become a major part of all our lives and are behind a lot of the changes that we are seeing.
As technology development moved from Japan to the US, they now feel it is moving to China. Apple is lagging behind in technology and really is seen only as a luxury brand. The likes of Huawei will be launching a foldable smart phone and Samsung are expected to follow.
The US focuses on Apple, Alphabet, Microsoft, Amazon and Facebook. The big players in Asia are Baidu, Alibaba, Tencent, JD. Com and Huawei. The revenue from these is significantly higher than the US counterparts, and cash is great. They invest about the same in R&D and have similar employee numbers. These companies are the ones overtaking the US….read more