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China's Rapidly Growing IT Industry China is considered one of the main growth engines for the struggling global IT industry, according to IDC's chief research officer John Gantz. By 2010, China will be the world's third largest IT market, said Gantz in a recent report in Silicon.com. This growth will be fueled by China's recent admission into the World Trade Organization (WTO). IDC forecasts a steady growth of IT spending in China, at least 25 percent annually. This compares with US spending forecasts of four-six percent; European spending at seven percent; and Asia-Pacific spending between 10-12 percent. "Over time we expect them to buy more software, but it's mostly a hardware economy now," Ganz said in the article. China is also expected to spend a large share on IT services.
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