Asia to increase IT spending. SINGAPORE — Despite the global slowdown in IT services spending, the Asia-Pacific region, excluding Japan, is expected to generate revenue of $31 billion this year and $60 billion by 2005.
From some genius at the Gartner Group: “Although poor economic conditions and the impact from the Sept. 11 terrorist attacks will dampen growth to “single digits” next year, the market researcher said it believes overall demand will bounce back to double-digit growth from 2003 to 2005.” Oh, well… Let me ask my wife and kids if they can hold out until 2005 or, move to S. Korea.
Hells bells!!! So, let me get this straight. Asia (except Japan who is dead broke) is boosting IT spending and investment to expect a longer term technological and infrastructural growth to realize higher profits and revenues in 10 years. Therefore boosting the capabilities of it’s economy to benefit a large group of people, the government, and businesses.
Meanwhile back here in the good old USA, we are cutting people, reducing IT spending and selling off our infrastructure now to realize a very small profit immediately. In order to benefit stockholders, the government, and businesses. Now, please don’t ever tell me again that that is what the market will bear. If I hear that again, I’ll scream. I’d rather hear the old Y2K song and dance all over again.