Prioritizing Innovation

China’s employment landscape looks sparse right now as many private enterprises that absorb much of the country’s workforce are succumbing to economic stagnation. While the Western world is caught in a tailspin, numerous private enterprises, and exporters in particular, have no place to hide. Their orders are declining to a trickle, and the supply chains of many also have broken down because of a lack of cash. In such a time of gloom, how can they weather the storm through innovation and industrial upgrading? Beijing Review reporter Hu Yue interviewed several economists and entrepreneurs about this issue at the 2008 Dialogue Between Chinese Private Enterprises and Global Fortune 500 held last December in Wenzhou, Zhejiang Province.

See what Wang Zhentao (President of Aokang Group Co. Ltd., a Wenzhou-based shoemaker)means when he says, "It’s time now for private enterprises to join forces in weathering the storm and draw some strength from self-restructuring and innovation."

Chinese Carmakers Steal the Limelight In Detroit

The global financial crisis has stolen much of the glitz and glamour associated with the North American International Auto Show in Detroit as global automakers are struggling to cut costs and stay afloat. However, it has also given Chinese vehicle manufacturers an opportunity to showcase their products and plans for the US market.

China Can Be First to Recover From Crisis

The country's economy has been losing steam over the past six months because the global economic downturn has dealt a blow to its exports sector. Exports dropped in November, the first time in seven years, and the industrial output growth fell to 5.4percent, the lowest in 10 months.

Click to see how, "China's measures have already taken effect."