> [IBM] is spending $1.2 billion to build cloud computing centers around the world to lure foreign customers who are sensitive about the location of their data.

IBM et al are still American companies, and until they're immune to American legislation (ie: FISA Section 702) then no-one will touch them with a fifty-foot ethernet cable. The location of the data is irrelevant.

The US Government will not budge on this issue, and they will happily throw the entire tech industry under the bus. Bailing out Silicon Valley and nationalizing as much as possible is very appealing, too.