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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.07

-0.1%

Nov 6 3:59 PM EST

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To: Elroy who wrote (66768)	12/22/2004 8:47:14 AM
From: RetiredNow	Read Replies (1) of 77397

Overseas tech firms to lead '05 growth marketwatch.com "Going forward, our competitors will come at us primarily from the Asian marketplace," Cisco Systems Chief Executive John Chambers told a gathering of analysts and investors in early December. But it's not primarily a fear of unauthorized knock-offs that have U.S. tech firms taking notice. Aided by a deep pool of technical talent -- India and China are churning out more than 10 times as many engineers as the U.S. every year - young firms in those countries are competing and winning on a level playing field. "The entrepreneurial genie is out of the bottle in China," said Richard Kramlich, a partner with the Menlo Park venture firm New Enterprise Associates, who was among a group of 25 top U.S. venture capitalists to visit China this summer. "You'd have to be a fool not to recognize it," said Kramlich, whose firm had eight of the companies it invested in complete IPOs in 2004.

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