经济学人下载:美国科技公司在中国 诚信危机

Business
商业报道

American tech companies in China
美国科技公司在中国

A question of trust
诚信危机

Edward Snowden is not the only cause of American firms' Chinese troubles
斯诺登事件并非美企在华陷入危机的唯一原因

WHEN Hewlett-Packard reported quarterly results on November 26th, Meg Whitman, the chief executive, noted that the performance of many of its businesses in China had weakened.
惠普公司在26号做季度总结时时，主管Meg Whitman注意到其在中国的多项业务表现得较为疲软。

HP thus joined a growing list of American technology companies which have given recent warnings of harder times for their Chinese operations.
因此惠普进入了美国科技公司的增长名单这一名单给他们处于艰难时期的中国分公司以提醒。

Some commentators—and the odd executive—have mused that Edward Snowden may have something to answer for.
一些评论者和执行官认为也许斯诺登是一部分原因。

His revelations about America's technological spying, it is thought, are leading Chinese customers to shun American gear.
有评论认为斯诺登曝光美国的科技监视使中国顾客避免购买美国设备。

Fears of a backlash had been reinforced on November 25th when Qualcomm, an American semiconductor designer, said it was under investigation by an agency responsible for enforcing China's anti-monopoly law.
11月25号Qualcomm，一个半导体设计公司称一负责执行中国反垄断法的机构调查此事，这导致人们更加担心中国抵制美货。

Qualcomm says that it is not aware of doing anything that might break the law and that it is co-operating with the agency.
Qualcomm说他没有意识到所做的事可能违法中国法律，也没有意识到到正在与该机构合作。

Paul Jacobs, its boss, told the Wall Street Journal that all US tech companies are seeing pressure in China right now.
它的老板，Paul Jacobs，告诉华尔街日报称：现在在中国的所有的美国科技企业都有感受到了压力。

Many are, but the reasons for this are more numerous and complex than Chinese suspicion of American snooping.
这是大部分原因，但真正的原因远比中国怀疑美国监视要来得复杂。

Take IBM. Its revenue from China plummeted by 22% in its latest quarter, compared with the same period of 2012.
以IBM为例，与2012年同期相比，最近的一个季度IBM在中国的盈利大幅跳水22%。

Big Blue admitted that internal execution problems were partly to blame. Less convincingly, it also cited a delay in the completion of China's latest economic plan and hence the tech spending associated with it.
IBM承认内部执行问题需要付一部分责任。而它决定延期中国的最新经济计划和限制科技投入也是其在中国失宠的一部分原因。

Cisco is also feeling a chill.
思科也感到了寒意。

In its latest quarter the Chinese revenues of the American maker of computer-networking equipment were 18% lower than a year before.
较一年前相比，在前一季度中美国电脑网络设备在中过的盈利下降了18%。

Cisco also forecast that its worldwide sales would fall by up to 10% in the current quarter, partly because of weakness in China.
同时思科也预感到在临近季度中其在全球范围中的销售会下降超过10%。这一部分是因为中国市场表现疲软。

Asked on an earnings conference call whether the Snowden affair was hurting business, Cisco executives said it was causing some Chinese customers to pause before making purchases.
当在一个电话收益会议中被问到斯诺登事件是否会影响其业务，Cisco高层表示这会使一部分中国顾客暂停购买。

But Cisco's share of sales of routers and switches to internet-service providers such as China Telecom and China Unicom, and to other providers of web-based communications and internet-connectivity services, had been falling well before the spying imbroglio.
但是思科的路由器销售股票和为诸如中国移动和中国联通等网络服务提供商以及其他网络通讯服务提供商提供的转换器早在监视门之前就有所回落。

David Krozier of Ovum, a research firm, says Cisco left itself vulnerable in China by failing to respond quickly enough to advances by rivals such as Alcatel-Lucent, of France, and Huawei, a Chinese company.
一家研究公司Ovum的David Krozier称由于不能及时从竞争中获利比如Alcatel-Lucent和华维间的竞争，Cisco使自己在中国处于不利地位。

Another American supplier, Juniper Networks, has managed to increase its share.
但是另一家美国供应商uniper Networks已成功使股票增值。

As for the Qualcomm investigation, it is tempting to see this as a further consequence of Mr Snowden's mischief.
至于对Qualcomm的调查，人们很容易认为这是斯诺登事件的后续。

But Qualcomm is not the only foreign company under the microscope.
但其实Qualcomm并不是唯一一家在接受调查的外国公司。

Recently others, including Danone, a French food firm, and Starbucks, an American coffee-shop chain, have been scrutinised for allegedly fixing prices or charging too much.
最近，其他公司包括达能和星巴克也因为涉及调整价格或是收费太高等原因面临调查。

The Chinese government could instead be trying to send an unsubtle signal to Qualcomm.
中国政府不应该尝试着给Qualcomm一个不明智的信号。Qualcomm主导芯片市场，

The company dominates the market for chips that let mobile devices use super-fast, 4G mobile networks, which Chinese telecoms firms are rolling out.
使得电话设备用上极速4G手机网络，这一技术已被中国移动广泛铺开。

The sudden scrutiny may thus be intended to ensure that Qualcomm asks only modest royalties of Chinese handset-makers.
而这突然的监视有可能是打算确保Qualcomm只向中国手机制造商收取适度版税。

All of this suggests the cost of Mr Snowden's revelations has been modest.
所有的一切都表明斯诺登事件的代价是适度的。

American firms are having difficulties in China partly because of their own missteps, but also because Chinese firms such as Huawei and ZTE have grown into powerful competitors.
美国企业在中国面临危机一部分原是他们自己的失策，但也是因为华为中兴等中国企业已成长为强有力对手。

The American government has, however, made matters worse by seeking to deter firms in the United States from using Chinese telecoms-networking technology, on the ground that it could threaten national security.
然而美国政府却因为试图以威胁国家安全为由阻止美国企业用中国电信网络技术而将事情变得更糟。

That is fuelling what Ed Maguire of CLSA, an investment bank, calls tech mercantilism.
这促进了CLSA的Ed Maguire所说的科技重商主义。

China had policies favouring local suppliers of tech equipment many months before Mr Snowden's leaks.
在斯诺登事件几个月之前中国有一些保护当地科技设备供应商的政策。

A tit-for-tat trade battle will do far more damage to American tech firms' fortunes in China than reports of the shenanigans of their country's spooks.
一场争锋相对的贸易战给美国企业在中国资产带来的损失远远大于对他们国家间谍诡计的报道。