So where will all this activity lead? First, foreign companies will begin to face increasing competitive pressure as Chinese industries mature even though they benefit from the growing market.
Semiconductor makers in particular could suffer from a mad rush by companies to build factories on the mainland to reduce shipping costs and to appease the Chinese government by investing in the country.
The market faced similar issues when a glut of chips occurred after Japan entered the semiconductor market in the 1980s and again when Taiwan and Singapore joined the industry in the '90s.
"From a supply point of view, you probably don't need these new facilities being built in China," TSMC's Tseng said.
PC companies will also increasingly engage in price wars. Since last year, Dell has cut prices and marketed more heavily to consumers with inexpensive PCs to gain market share. Legend, in turn, has vowed to take more business of its own.
Unlike previous tech manufacturing giants, however, China may not face pressure from price reductions. Manufacturing costs will remain low because more than half of the population still works in the agricultural sector.
"China will enjoy a huge advantage for years to come in low labour costs," Lau said. If history is any guide, the lower labour costs will translate directly to lower PC prices in the West over time. Taiwan and China may become less distinguishable from one another, at least economically. Taiwanese companies have invested billions of dollars in China and employ more than 300,000 people here, according to statistics from the Committee of 100, a Sino-American leadership group.
Taiwan provides the expertise in this relationship and China the workers. "It is only a matter of time before Taiwan rejoins the mother-land," said Ronnie Chan, chairman of the Hang Lung Group, a large Hong Kong real estate concern.
Taiwanese executives generally are far less enthusiastic about reunification but openly acknowledge that their future dictates a binding relationship with the mainland, with business leading the way.
"The politicians are not heading up the dialogue, but they are keeping their eyes on it," said Paul Hsu, a senior partner at Lee and Li, a Taiwanese law firm.
The freer flow of information and rising income will inevitably have an effect too. If global history is any guide, the result may be a thriving middle class that eventually leads to political reform.
"We think that bringing in more and more technology opens that country up," Intel President Paul Otellini said in an interview earlier this year. "It is the Chinese equivalent of glasnost. Long term, that has to be good."
Gartner's Hayward is in no doubt that China will become the most powerful economy on the globe within the next two decades, however he cautions against excessive excitement regarding the Chinese economy in the absence of good news elsewhere.
"We wouldn't be talking about China so much is things weren't so bad elsewhere," Hayward warns. "There is a lot of opportunity there, but the problem is that it is over hyped at the moment."
Despite its incredible growth figures, which are generally expected to continue, Hayward points to a looming banking crisis, and concerning budget deficit as potentially destabilising influences, but says neither is likely to significantly hamper growth.
"I don't see why our kids in Australia are still being taught Japanese at school, without a doubt in ten years time they will need to know Mandarin, and we should start preparing them now," he concludes.
