Many business people might argue that California is overlawyered, but there are parts of China without any lawyers at all.

ECONOMIST: Asia's skills shortage

But China is staging a comeback, albeit one without a lot of bells and whistles.

FORBES: China Will Meet Official GDP Target

But without the ability to compete on interest rates, says Mr Sheng, China will anyway find it hard to attract foreign investment in banking.

ECONOMIST: Problems left over from history | The

Gazprom is no longer interested or capable of doing this deal, but the Russian government has always been in control since nobody is exporting gas to China without its approval.

FORBES: TNK-BP: More Drama Or Business As Usual?

This arrangement can continue indefinitely, but without Kashagan, Kazakhstan cannot supply the planned 1.2 million barrels for the line to China, let alone fully diversify its exports.

FORBES: Royal Dutch/Shell Leaves Major Kazakh Energy Project

Huang Haibo, an executive at China Mobile, stressed the two companies have so far only made preliminary contact, without anything set in stone, yet, but noted they hope to bring the iPhone to China.

FORBES: Magazine Article