While the World Health Organization declared on July 5 that the epidemic of severe acute respiratory syndrome, or SARS, had been contained, the world economy will continue to feel the effects of the deadly disease for some time.SARS, which infected 8,436 people in 30 countries and killed 812 since the first case was reported in China last November, will cost the global economy $30 billion, according to a widely cited estimate by Morgan Stanley’s chief economist. IT analysts report that lowered technology investments will, like the disease itself, hit Asian countries such as China and Taiwan the hardest. Aberdeen Group says both demand for technology goods and the supply of silicon chips and other computer components will drop. That will cost China an estimated $1.7 billion in IT spending as global technology expenditures will drop by $2.2 billion, Aberdeen predicts. IDC (a sister company to CIO’s publisher) projects China will lose about $1 billion in information technology spending. That translates to an IT spending growth rate of 6.1 percent instead of 7.6 percent for 2003. Related content case study How IT leaders use EV tech to fuel the transport revolution in Kenya Many African nations are starting to invest in electric vehicle (EV) transportation as a means to broaden access and help keep pace with global environmental initiatives. In Kenya, strides are being made despite industry and tech leaders grappling to By Vincent Matinde May 31, 2023 5 mins CIO CTO Emerging Technology feature How CIOs distill the most sought-after data skills From back-end engineers to data scientists and line-of-business experts, here’s the in-demand talent that all organizations need to turn a glut of information into game-changing insight. By Mark Samuels May 31, 2023 8 mins IT Skills Data Center IT Leadership interview Broadcom’s Andy Nallappan on what cloud success really looks like The CTO, CSO, and head of software engineering and operations knows firsthand that a successful move to the cloud is all about changing the culture and replacing on-prem’s sunk cost mentality with incentivized FinOps. By Martha Heller May 31, 2023 8 mins Technology Industry IT Strategy Cloud Computing feature Key IT initiatives reshape the CIO agenda While cloud, cybersecurity, and analytics remain top of mind for IT leaders, a shift toward delivering business value is altering how CIOs approach key priorities, pushing transformative projects to the next phase. By Mary Pratt May 30, 2023 10 mins IT Strategy IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe