Glenn Stevens
It's hard out there for a high-tech manufacturer.
Glenn Stevens, the governor of the Reserve Bank of Australia, plotted some interesting numbers in a report yesterday. According to his research, the more a country's economy relies on manufacturing high-tech goods, the harder its GDP got hit by the recession.
Many of the Asian countries on the right side of that chart are where American tech companies outsource their manufacturing of products like computer chips — and demand has been down since the chip market began to crash in January. It's another sign of the developing world getting hit harder by the global recession.
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