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16 SMT Magazine • February 2015 the trough in the range of $45–$60 (plus/minus $10) until the market is stabilized and the equi- librium price will not return to over $100 for awhile (unlikely in 2015). And it seems reason- able to position oneself by assuming that the stabilizing process would continue throughout 2015. China Factor Again, China continues to be a factor! Contributing to 38% global growth, Chi- na plays a significant role in global economic growth. However, China's economy with the double-digit growth rate as demonstrated over the last two decades is the way of the past. Working on its next 5-year Strategic Plan (2016–2020), China deliberates on the specif- ic technologies to own. The country wants to move from investment to consumption, while retaining its market share and its position as the low-priced exporter. The country is catch- ing up its investment in R&D, hovering around annual 20+% increase in R&D spending. The rise of China's innovation is in sight, building up a critical mass of expertise and financial fire- power that could potentially realign the power structure of the technology industry going for- ward. While the country's stability is at the top of the new leaders' list of wants and needs, the central government leadership has set a new national theme—"rejuvenation," aimed at es- tablishing global wealth, power, and respect. Following its 5-Year-Strategic-Plan (2011– 2015), major structural overhauls are being implemented. In short, in the coming year(s), China's mega priorities go to the following overhauls: 1. Government: implementing anticorruption measures 2. Economy: converting from investment-led economy to consumption-driven; refreshing state-owned enterprises; shifting to high technology sector 3. Market: aligning with the market, moving toward free market 4. Technology : growing investment in R&D; urging innovations 5. Environment: making deliberate efforts to fight pollution 6. Social: creating enough jobs 7. Business: reducing the reliance on imported components/parts that are strategically important Although its efficiency and financial systems rank lower than desired, China continues to play an important role in manufacturing prowess. However, the focus areas in hardcore manufac- turing are shifting. The strategically important industries range from infrastructure-related sec- tors to semiconductor to software. E-commerce and social network-related technologies are of interest. China's broadband project intends to give 95% of the country's urban population ac- cess to high-speed broadband networks. Despite the fact that all businesses entities are concerned about the "China slowdown," China still stands as an important trading part- ner and a formidable marketplace. Going into the new year, its GDP at 7.0% plus/minus 0.2% is expected. Cybersecuity In this cyber age, stable, resilient and safe cyberspace is crucial to doing business and run- ning our daily lives. As cyber intruders are in- creasing in number and intensity, 2015 is the year that cybersecurity takes the front and cen- ter seat. Cybersecurity requires 360-degree attention and effort from the front office to the middle- office to the back office, or from the factory floor to the CEO suite to the boardroom [3] . As much as needed and desired, there is no panacea to totally prevent cyber attacks. None- theless, exercising the best practices is the way to mitigate the risks of attack and its conse- quences through several key areas: 1. Recognize the risk 2. Embrace the risk 3. Carry out a cyber-risk assessment 4. Plan and prioritize protective measures 5. Implement state-of-the-art technologies 6. Treat it as an on-going, company-wide effort (not just an IT department's function) NeW year OuTLOOK: WHaT CaN We eXPeCT IN 2015? continues smt prospeCts & perspeCtives