The first domestic Chinese jet airliner had its first flight last Friday. A potentially serious new competitor is growing its capability in the most sophisticated and complex civilian manufacturing sector. Boeing and Airbus, both reeling from development delays of their next generation products and the threat of massive order cancellations with the world economy heading down, do not exactly need more competition right now. Fortunately for them, the new Chinese product line is aimed more at markets dominated by Embraer of Brazil and Bombardier of Canada -- so-called regional jets, a bit smaller than the smallest Boeing and Airbus models, but both expanding their line-ups to get into the lower end of the A320, B737 range.An iron law of globalism is that technology diffuses internationally. This is not just a matter of GATT, free trade, or conspiracies led by Freemasons, Jews, or anyone else. The Venetians tried protecting their glassmaking technologies the better part of a millennium...(Read Full Post)