Many consider China the world’s industrial zone. Most gadgets spawned by the digital revolution are made in China, but cheap labor is no longer the country’s main drawing card. And China itself has mushroomed into an enormous market for consumer products and services.
China’s consumer power and production prowess haven’t been enough to turn it into a technology powerhouse, but this barrier is falling. Large Chinese companies have lots of money to invest, and they’ve been doing so in infrastructure and natural-resource projects throughout the world. Now they’re tackling technology. Chinese companies and investors are sniffing around Israeli high-tech, as recent transactions attest.
Israeli entrepreneurs realize the importance of Asian markets; all emerging markets, actually. But when seeking out investors, buyout suitors or strategic partners, they instinctively turn to North America or Europe. Multinational development centers operating in Israel are almost all under Western control – for now, anyway.
So Israel is increasingly emphasizing its trade relations with China. Economy Minister Naftali Bennett flew to China Saturday for his first official visit abroad. Bennett’s choice was no coincidence. Prime Minister Benjamin Netanyahu preceded Bennett with his high-profile visit to China at the beginning of his new term.
Read a full report at HAARETZ.