China flexes chipmaking muscles

"From 2001 through 2004, the Chinese IC market registered a compound annual growth rate (CAGR) of 46% as compared to a 14% CAGR for the IC market in the US during the same time period. And in 2005, China is expected to account for 20% of the world's $175.4 billion IC consumption, up from only 8% in 2001. The growth rate of Chinese IC production is predicted to be very strong until at least 2010, when it is expected to peak at $14.5 billion annually. Despite this high growth rate, China-based IC production would only represent 5% of the total worldwide IC production forecast for 2010. "