How can you not like what Flextronics is doing in the computing space right now?

The world’s second-largest EMS player just opened its fourth end-to-end computing campus in China, a one million sq. ft. behemoth that offers complete design and manufacturing services for desktop, computers, notebook products and tablets.

More significant, the move underscores that Flextronics is going right after Foxconn. Unlike some competitors that have chosen to cede entire industries to Foxconn, Flextronics is turning that approach on its head.

While most analysts see computing as a relatively flat industry over the next few years — a prediction that is complicated by the growth of 4G smartphones, which act like de facto PCs — Flextronics has grown its revenue in the segment by taking market share from the very players most saw as the entrenched winners. From practically non-existent a few years ago, Flextronics’ PC segment is expected to nearly double to $2 billion this year and is forecast to hit $4 billion in 2012.

American companies pioneered volume manufacturing. There’s no reason they should not compete in that domain anywhere in the world.