China is no longer content with just being the world's pre-eminent manufacturer: it is increasingly active in the development of global technology standards, Deloitte & Touche LLP finds in a study released Thursday (Aug. 5).
The report, "Changing China," details how China's standards initiatives will shape global competition in the technology, media and telecommunications sector for years to come.
As China's standards become more widely accepted, Chinese firms will increasingly direct the global technology sector.
"Technology vendors that misjudge the impact of China's standards revolution could find themselves at a significant disadvantage, with their position in the market increasingly overtaken or encroached upon," said Clarence Kwan, National Managing Partner, Chinese Services Group for the Technology, Media & Telecommunications practice at Deloitte & Touche.
"Firms with a strong base of support among Chinese companies and consumers are in the best position to promote their own standards. Those lacking widespread support would be wise to co-operate instead of compete," said Kwan.