Japanese companies have yet to join the outsourcing trend in significant numbers, but Alford figures it's only a matter of time. Last year, for example, Toshiba, the world's largest maker of laptop computers, announced an alliance with Taiwan-based Winbond Electronics. Indian companies also illustrate the way globalization has lifted many technology plays beyond the limits of their own market. Analysts say Indian firms are as shareholder-friendly as their Taiwanese counterparts. Infosys, for example, used U.S. accounting standards even before it listed in New York.
Technology is also sweeping across China.
Everyone wants their child to have the latest model. Its revenues are exciting but its margins are not. Not all markets offer such great promise. South Korean computer companies, for example, still have a long way to go before they can be considered as shareholder-friendly as their great rivals in Taiwan. They don't focus on returns.