Alibaba was a local Chinese company that helped small- and medium-sized enterprises conducting business online.

FORBES: How EBay Failed In China

The National Bureau of Statistics said Wednesday that average prices of newly built homes in 52 of 70 large and medium-size Chinese cities it surveyed fell in December on a sequential basis, up from 49 cities in November.

WSJ: China Sees Drop in Property Prices

But in the mobile era, more small-and medium-sized American companies are entering China and partnering with Chinese companies with better reach.

FORBES: China's Largest Mobile Browser Heads Into U.S. Market

There is probably no better place to look for the effects of industrial policy today than China, and it is to data on the performance of medium-sized and large Chinese companies between 1998 and 2007 that the economists turn to test their ideas.

ECONOMIST: Economics focus

When times improve, small and medium-scale manufacturers will find it hard to restart without access to Chinese money.

ECONOMIST: The ethnic Chinese in Indonesia continue to live in fear