The duties levied on the companies had also been relaxed between these countries. This program was called as ‘The Border Industrialization Program’. With the implementation of NAFTA called as North American Free Trade Agreement, Mexico manufacturing has tripled.

Earlier, Mexico attracted manufacturers who perform only simple assembling. But, later with the development in this industry many big shots with complex products started flowing in to Mexico. China attracted many inexpensive commodity manufacturing in world level. At this time, US were looking for a similar place like china which could produce low cost products. Mexico manufacturing proved as the exact solution for a situation like this. Many foreign firms started setting up their operations and manufacturing in Mexico.

Methods of implementation :
Mexico manufacturing companies used five common methods:

• Contract or sub-contract manufacturing – This method is a form of outsourcing where Mexico manufacturers manufacture products for another company. This method will be used for companies who like to drive down the production cost involved in setting up infrastructure.
• Joint venture – Two or more firms invest for a single manufacturing.
• Full-owned – As its name suggests, the whole capital and profit belongs to a single company.
• Shelter – In this method, a firm can operate manufacturing and assembly in Mexico without even having knowledge of the subsidiary.
• Outsourcing – This is almost same as contract or sub-contract, except that this method outsources people rather than products.

Advantages :
The price of the land marked as one of unique Mexico manufacturing companies’ advantage for its development. Unlike other developing countries, the land cost remain cheap in Mexico which attracted many manufacturing in Mexico. Many firms which require large engineering content preferred Mexico than to other countries. Its proximity to US also helped the manufacturing companies for coordinating activities. Products got manufactured soon as the raw materials were readily available nearby and the products got delivered in time because the markets were nearby.

An investment club is the place where people with limited amount of investment gather around to learn about investing and sharing their experiences. You don’t have to learn everything by yourself anymore.

The major goal of the investment club is teaching their members about how they could make money using various investment tools, and some could goes with Finances Factoring option in supporting further investment needs. They also will learn how to minimize the risk and increase the profits.

Your success in the investing world is not guaranteed by your investment club. It’s just a place where you’ll learn something new about investment. The investment club could not guarantee you to become a successful person because the most important step to become success and rich in the investing world is your own responsibility. The most important step is take action.

You could join the investment club for years, but if you never take action in the investing world, you’ll get nothing. Fortunately, you could use investing club to motivate you to take action.

To get the most out of your investment club, you need to participate actively in it. For example, when you want to buy some stocks, you need to discuss it first with friends from your investment club. They could show you or give you advice about the best way to get in and get out in the stock market. By doing this, you could minimize your risks and increase you profits.

The successful investment club will have a lot of active members. Use their knowledge to learn more about investing world yourself. You could also gain access to online resources or organization computers if you need to find more about the investment tool that you like.

There are several types of investor group that you could find in the investment clubs. Some of them prefer to get profits as fast as possible, and others prefer a long-term investment and slowly build their investment portfolio. Here are 3 types of investment group that you might want to know:

1. Momentum Investors – These investors prefer technical analysis than fundamental to tracking down the price in the stocks market. Their purchase usually following a direct order from the system that they use and they trust.

2. Growth Investors – These investors prefer fundamental analysis before they do the investment. They check carefully the profit margins, growing sales and earnings, and also the prospect of the company that they want to invest to.

3. Value Investors – Value investors using the same fundamental analysis with the Growth Investors, but they have different measurements. They are looking for the company that has a very low stock price but showing a high growth for the next couple years.
Most investors that you’ll find in the investment club often use the fundamental analysis. You could learn from them how to pinpoint a good stock and avoiding the bad ones.

Investing could be done in many forms, such as in real estate, in building a business, or in the stock market. To make it easier to do the investment, most companies arrange that the investment could be done without leaving your own home. That’s the birth of online investment.

Online investment usually doesn’t have so much difference with the common investment. The major difference is you could do it at home with your computers and internet connection. The internet will allow you to explore some of the best investment opportunities online. You could also get some tips in online investing or advices from the experts.

If this is the first time you do the online investing, you need to know that you should start small. Starting small in any online businesses will allow you to research the opportunity deeper and figure the profits and loss ratio and find out the best way to dealing with it. After you comfortable with the small investment and you feel that you already have enough information about online investing at hand, you could increase your initial investment.

When you’re online, the easiest investing opportunity that you could find is trading stocks or options. You could get lots of tips from the online broker, and start building your portfolio. However, this is not the only way to online investing, you’re also could make some cash from auctioning stuffs online, selling your business products or services, and so on.

If you don’t have enough knowledge to start an online trading, you could go to mutual funds. This is the best choice for investors who doesn’t have enough expertise to deal with individual stocks or doesn’t have enough time to do the watching themselves. If you decide to have a mutual fund, make sure you’re not cash out the investment early. You need to build it until it’s solid and could give you long-term profits.

Just like any other broker firms, the online broker firms also have their own fees and charges. Make sure you choose the legitimate one before you use their service.

Doing the online trading yourself will require you some time to master it. You need to use your own time and brain to exercise, and your own tools to signaling you whether you need to get in or get out of the market. The are so many resources that you could find online that will teach you the right way to do the online investing and make some profits from it.

Unlike common investment, there are some problems that need to be addressed properly if you do the online investing. Some of them are your internet connection, the brokerage server or other natural disaster. This is inevitable since it’s the common problem that you’ll likely to face. If your internet connections having a problem make sure you could contact your online brokerage firm to tracking your online trading.

Online trading is just the same with a common one in the risk aspect. There is no guarantee that you could make profits from it or not. You need to find the right system that you could follow in order to make money in online trading.

Forex is quite popular for some people who want to make it as their startup home business. With as low as $100, they could participate in the Forex market and build their fortunes from there.

Getting started in the Forex market is easy. You’re only need to find some Forex company that could facilitate your online trading, make an account, and you’re ready to trade. One thing you need to remember, this Forex Company won’t do the trading for you. They’re just middlemen that provide you with tools to trade. Whether you want to trade or not, it’s entirely your own decision. This Forex Company often gives you two accounts that you could use. One of them is the virtual account and the other is a real account.

Virtual account is the account that you could use to trade virtually. The Forex Company often fills this account with $5000 amount and up that you could use to exercise your trading method. This is just virtual money that they prepare for you and you can’t withdraw the amount. The real trading account will be the real account that will be used for your trading activity. This is where you real money is.

After you get an account, it’s time for you to pick up the right tools or systems. You could find tons of Forex systems or methods on the internet. Of course not all of them are free. Some of them required you to pay a one time fee to purchase their systems, and others will require you to pay on the monthly basis to access their methods. No matter which systems that you choose, make sure that you pick the right one.

But how do you know that you pick the right one? Simply doing the cross checks for yourself. Go to the Forex forums, and see what other person thinks about a particular method or system. Also, be aware of the people who create the system or method. There are so many scams on the internet, and you need to be smart to tell the difference between the real one and the scam one. Do your own due diligence, and choose your system or method based on it.

After you get the account and the system, it’s time for you to test it. Use the virtual account that you get from the Forex Company, and play with your system for at least a month. It’s to familiar yourself with the system, and also checking the profits and losses of the system that you use. After you’re ready, it’s time to use your real account. Put some capital in it, and you’re ready to trade!

To build a better future, you need to make an investment plan. The plan that is not only put some money after you’re retired, but also the plan that keeps growing up. Here are some investment tools that you could take advantage of in building a successful financial life :

1. 401K Plan – This is the easiest and fastest way to save some money for your retirement day. The money will be taken from your payroll, and usually you’ll never realize that you have it before until your retirement day. Make sure you have this 401K Plan. If you haven’t, open a new one.

2. Life Insurance – No one in their right mind will skip the life insurance. It is the best tool to protect yourself against any accidents that may occur to you. It will make your family more secure just in case you passed away and left your children and wife with nothing.

3. Stocks – This one is quite popular today. This investment tool allows you to buy some shares of the company, and they will pay you with dividends for it. This will require a good time of research to find the best company. But after you’re done, you could relax and let them grow themselves.

4. Bonds – Bonds is a promise note from a private company or government. You give them some money as a loan with interest for a number of years until they paid you back, in full. This is usually the lowest risk of investment tool and very useful for people who just starting to investing.

5. Mutual Funds – This is the investment tool that based in gains and loses of shareholder. One person will manage the money from several people or companies, and then spread the investment in several place to minimize the risk that might occur.

6. Money Market Funds – This is a short-term investment tool. You could get in and get out of the market along with your cash in a matter of minutes. You could act as an independent shareholder and manage your own money.

7. Brokered Certificates of Deposit (CDs) – This is an investment tool that require you to invest your money in a set of time. The benefit that you can enjoy from this CDs is that you could take out your money anytime you want without paying any penalty fees.

8. Real Estate – This is the most favorite investment tools all the time. Real estate investment could be your house, empty lands, or rental properties. Many investors love to use this investment tool because it’s steady and the properties price usually rising throughout the years.

No matter which investment tools that you choose, just make sure that you learn something about it first before you jumped off with both feet. You could also ask some advices from the expert in the fields regarding your investment tools before you start investing.

The IRA will be your retirement savings plan. Either you work as an employee or a self-employed; you could save some money and put it into your IRA. This investment is tax-deferred until the distribution date come up. Also, some individuals are permitted to withdraw some or all of their money in their IRA. There is also a retirement savings account called Roth IRA where you can’t withdraw the money. However, when the distribution time comes up, the withdrawals won’t be taxed.

To setup an IRA, you need to find a trustee. A trustee or custodian could be your bank or your brokerage house. If you have any other financial institution, you could use it as a trustee. For this IRA, you can’t be your own trustee.

To contribute in Individual Retirement Account ( IRA ), you need to put at least $4,000 in it every year. Of course you could add more money to put in your IRA if you could. For people with 50+ years old, they usually need to put additional $1000 per year to catch-up with their IRA and save more money for their retirement.

If you have more than one IRA or you have several types of IRA, the same limit will be applied. So, if you and your spouse have a separate IRA, both of you needs to pay the maximum amount of $8000 per year or $10,000 per year for couple more than 50 years old. This amount will be raised up to $5,000 each in 2008 while the additional catch-up amount for people above 50 years old still $1,000.

If you have any emergency need that resulting you not to pay your IRA, it’s not a big problem. It’s because you’re allowed not to contribute the money year after year. You could skip one or several years if you like, and continue the payment for the next year. However, the amount that you skipped before is not allowed to be added in your next contribution.

The money that you contribute for saving in your IRA must be made from compensation such as salaries, wages, commissions and other sources of your earned income. You cannot put the money that you’ve made from sources like dividends, portfolio interests, deferred compensations, or retirement payments. So, make sure you have the right source of income before you put your money in there.

When you reach the age of 70.5 or when you retired, you must begin to take your IRA distributions on every April 1st of the year. These savings would then be your golden eggs during your retirement years, thus you should plan carefully in order to meet the needs during these years ahead.

IRA and Roth IRA have a slightly different terms and rules. Both of them also have their own distribution and contribution limitations. That’s why you need to get some advices either from your accountant, banker, or your financial advisor so you could get a solid grab about each retirement savings account. Doing it this way will gives you choices to get what you need most.

By the end of the 19th century, the capitalist economies were out of breath from the cyclically recurring crises. This was observed by Karl Marx, who was vowing that the capitalist system would collapse after the next crisis caused by the overproduction of goods. And everything told us that the prognosis of Marx was about to come true, because overproduction had become a chronic problem of the capitalist economies – more goods were produced than there were customers. Drastic measures were needed, and the solution was found – the pyramid of consumption was turned. If previously the man first produced and then consumed, now he first consumed and then produced. By the way it was achieved, four forms of socialism can be distinguished.
State Socialism, or the European model of socialism. In this model the distribution of public goods is a state affair. The reasoning is simple: the state removes the excessive efficiency of the companies through taxes and distributes it among the citizens.
Taxes have always existed, but in the 20th century they were collected, not only in favor of the ruling class (the bureaucracy) and public needs, but also to maintain the solvency of all its citizens, which naturally led to an increase in the tax burden. Actually, the money that the state gives to a citizen through various forms of social services and guarantees, are returned to the economy, when he buys goods and services for which he previously would not have had money, respectively, enterprises can easily expand the production of these goods.
But this concern about the proliferation of citizens turned to parasitic attitude. A striking example of this is Germany, where people prefer to grow old living on unemployment benefits, rather than look for a job, the payment of which may be below the public benefit. Thus, the businessman is between the hammer and anvil – high business taxes strike on the one hand and on the other wage workers do not allow to reduce costs by requiring payment not lower than the state standards. And the introduction of minimum wages became generally a lethal drug from poverty.
Of course businessmen have been shifting production to countries where there are no such problems for business. It reached catastrophic dimensions when China chose a path of capitalist development. China, with its relatively educated and hardworking people and very cheap working hands, has become the funnel, which has sucked in the entire world economy.

The second, which is very close to the first, is the Nordic model of socialism. We may call it public socialism, because the primary role in the redistribution of public domain in these countries does not belong to the state, but to local self-governed institutions – municipalities. Moreover, although the level of the social expenditure is even higher than in the rest of Europe, the degree of the governmentalization of the economy is significantly lower. Here such an unprofitable large-scale nationalization of industries didn’t take place, as in other European countries, where this was a way of trying to avoid social disruptions caused by massive dismissals from bankrupt enterprises. And though this model worked even better than the pan-European one, the outcome was the same – bankruptcy.
A special case is Japan. This model can be called “corporate socialism”. In Japan, the brunt of caring for workers is not on the state, but on the corporations in which they work. Corporations, for example, provide their employees with housing. The outcomes of such an economic system are not very good either- corporations have become totally unwieldy. Japan is already in the second decade of stagnation, despite all the efforts of the Government of Japan to revive the economy, be it the zero discount rate, or the maintenance of the low-rate of the yen. Japan is not competitive with the new Asian tigers of economy, which have no such an onerous social system for business.
And finally, the fourth model of socialism – the United States. By way of redistribution of wealth, we can define it as credit socialism. The main feature of this model is, of course, is the developed mortgage system, which is supported by the State. In this model, housing plays a role of locomotive of the economy as a whole, as the increased production in this industry gives a multiplied effect – the construction provides with contracting other industries.
This model of socialism owes its emergence to the Great Depression. Its first institution was the Federal institute for bank housing loans, which was established in 1932, and whose activities are exempt from federal and local income taxes. The bank is something middle between a credit union and the central bank for 12 private regional mortgage banks (by the way, at this moment 8 of these 12 banks are in fact on the verge of bankruptcy). But, of course, the most famous American mortgage institute is the Federal National Mortgage Association, better known as Fannie Mae, established in 1938 by Franklin Roosevelt. In 1968, from Fannie Mae was allocated from the Government National Mortgage Association Ginnie Mae, which deals with social housing, and the Fannie Mae was privatized, but it is still an organization that is sponsored by the U.S. government. In 1970, the U.S. government created the federal mortgage corporation Freddie Mac, which, in essence, is the same as Fannie Mae, but according to the original idea of the States it had to create competition and thereby lower the costs of the mortgage loan. In 1999, Bill Clinton squeezes through the facilitation of the provision of mortgage loan, and the final outcome of it is known to all of us.
The system worked as follows, a mortgage association buys mortgages from banks with the money received by the associations from issuing their own securities, which were bought by both national and foreign investors, including the government. The popularity of these securities was due to the fact that in any case the U.S. government itself would, as it happens, take the responsibility for the payment of these securities. It is a kind of worldwide financial vacuum cleaner for pumping money from the global economy and loading it into the United States. While for the sake of fairness it should be noted that, for example, the easy money of Arab sheikhs has simply nowhere else to go. That is the money earned by them in the export of oil in the United States, are brought back to America.
But the United States is not the only country that went on that path. From the U.S. experience of the “market” stimulation have benefited economies from so many countries around the world. A very impressive example, when the student has surpassed the teacher is Spain, where the mortgage is provided for a term of up to 50 years. By stimulating housing Spain has demonstrated over the past decade a staggering growth, but with the start of the global depression this bubble burst, too.
Thus, at the moment we have, a crisis of all the old capitalist economies, this crisis is not of a conjecture type, as it is often stated by government officials in public statements, claiming that the crisis will stop by itself within one or two years, for which it is only sufficient to boost up consumer demand and provide additional liquidity to banks, but it has touched the very system, affecting the way of formation of consumer demand in developed countries. But the assertion that the main victim of the crisis is the U.S. is not true – the numbers say otherwise.
Many may reasonably argue that not all comes down to cash, that in the modern economy the human capital is crucial. But according to this indicator the world leader is Taiwan. According to the latest testing of students in the framework of the program PISA, which was attended by 57 countries, including all 30 OECD countries, i.e. all countries have the official status of developed countries, Taiwan ranked first in the world by the level of mathematical knowledge, on the second position is Finland, on the third comes Hong Kong, Korea on the fourth, and on the fifth the Netherlands. And, for example, the United States was the 35th, and Russia the 34th. In the rating of the level of scientific knowledge students from Taiwan ranked fourth, the first was Finland, the second Hong Kong, Canada the third and the fifth Estonia. United States in this ranking is in the 29 position, and Russia, respectively in 35. Thus, the level of knowledge, both in the U.S. and Russia, is lower than the average among the countries that participated in the study. By the way, Kyrgyzstan in both ratings took the last 57th position. Unfortunately, nothing can be said about the level of knowledge of Kazakh students, because they were not tested, but considering the above mentioned figures, I am afraid that they would not be very good for Kazakhstan.
Knowledge is, of course, good, but without investment, it will not bear fruit. And then one should pay attention to what occupies the minds of the world powers. At a time when the United States and European countries spend the already holey budgets of their countries to support the banks and broken motor car companies, the Arab and Chinese sovereign funds have started buying up the world and especially the European economy. By the leaders of Western countries, such activity of the eastern investors is welcomed investors, because thanks to it is temporarily stopped the fall in stock indices, and the crisis seems to have ceased to grow rapidly. But the crisis did not go anywhere, as consumer debts to the banks, and bank debts towards each other continue to grow as a snowball.
By giving money to the banks, the governments, first of all, do not allow the financial system to become healthier, and secondly, they strengthen their own debt, and, thirdly, exacerbate the situation with the debts of financial sector. State leaders have forgotten the simple truth, that you cannot save the private sector at the cost of the bankruptcy of the state. And if Europe has already made its choice, the Europeans will be working in enterprises owned by Asians, the United States still has a chance to survive as a great power, but all measures taken up to this time by the U.S. government, force to have doubts as to this question. But I am confident that America has a plan for economic revival, only it is too radical to start bringing it into life now, the crisis has not yet gone so deep as to hold open the bankruptcy of the old economy, and to begin building a new one.

The U.S. GDP in the I quarter of 2009 decreased by 5.5 per cent according to the final data. The data was presented on Thursday, June 25, by the U.S. Department of Commerce. Analysts expected that the decline in GDP would be about 5.7 per cent. That was the number that previously was reported.
The fall in U.S. GDP was 6.3 per cent in the IV quarter of 2008 .
Growth of GDP deflator was confirmed at 2.8 per cent, and turnover rates were revised downward: in the final data, export fell by 30.6 per cent (previous data was by 28.7 per cent) and import went down by 36,4 per cent (previously a decline of 34.1 per cent was reported). The decline of export was the biggest one since 1969. And the decline of imports – since 1937.
The base price index PCE (not taking into account the costs for energy and food) rose by 1.6 per cent according to the final data. Data on the growth of consumer spending slightly adjusted downward in the I quarter of this year – to 1.4 per cent instead of the previously announced 1.5 per cent.
Business investment declined by 37.3 per cent, investment in real estate went down by 38.8 per cent.

Alliance Oil announced the start of the open placement of convertible bonds for 225 million dollars and shares in the new issue in the form of Swedish Depository Receipts (SDR) for 100 million dollars yesterday. Code Listing of bonds, maturing in 2014, will take place on the Luxemburg Stock Exchange. The loan may be repaid in three years if the price of SDR exceeds 130% of the value of bonds. The papers provide a quarterly coupon rate which will be determined in the range of 6.75 – 7.5%. SDR is expected to remain listed on NASDAQ OMX Nordic. According to a source familiar with the situation, the book of applications will be closed today, it is passing without a price corridor, and the results of the deployment are scheduled to make public on Friday.

In 2008, Alliance Oil (up to May 28, was bearing the name of West Siberian Resources Ltd.; WSR) teamed up with NC «Alliance». The result was a vertically integrated oil company operating in both Russia and Kazakhstan. Its total proven and probable reserves amount to about 65 million tons, the current level of production is about 2.5 million tons of oil annually. By 2011, Alliance Oil plans to add over 4 million tons. The main processing asset is the Khabarovsk oil refinery, which adopted just over 3.3 million tons of oil in 2008. The net profit of WSR amounted to 50.5 million dollars in the first quarter of 2009, a 10% increase over the previous year. Revenue for that period decreased by 40% – from 549 million to 328 million dollars. In doing so, the profitability of WSR in EBITDA and net profit amounted to 30% and 15%, which are better than that of other Russian oil companies.

Alliance Oil demonstrated a good performance in the first quarter, and chose a good moment for the placement of SDR and bonds, says UniCredit Securities analyst Artem Konchin. The decision taken by the owners of the company to enter the market was done taking into account the results of the work, done from the beginning of the year, adds a source in the industry. In the face of oil price rising Alliance Oil may get even more value than stated, believes the analyst of IR «Veles Capital» Dmitry Lyutyagin. Accommodation at a low rate of 6.75-7.5% in the current situation is interesting to the company itself, as before domestic structures tried to take 9.5% annually. «To the investors its an opportunity to continue entering the capital of the company after the conversion of bonds, and a fixed premium of 25-30% which can be realized already within 1-1,5 years can be attractive to them», – considers Mr. Lyutyagin.

Funds received during the planned deployment will be spent on improving the balance sheet and liquidity of the company, as well as reducing short-term debts, expressed in the Alliance Oil. The company needs the proceeds primarily to refinance its short debts, said Artyom Konchin. In the first quarter the debts of Alliance Oil dropped by 27% and amounted to 629 million dollars, 65% of that amount (just under 410 million) is for short-term debts. A big portion of funds – up to 350 million – can go on investment in expanding production, as it is interesting in terms of lower prices for new licenses and settling trades, said Dmitry Lyutyagin. The main investment project of «Alliance» – the modernization of the Khabarovsk oil refinery – will continue through credit guarantees for 700 million dollars, which have already been received from the state insurance agency of Spain CESCE.

According to the current value of the shares of Alliance Oil, the market can be filled with an additional order of 7.3 million shares in addition to existing 161.5 million. This way, the shares of Bazhaev family, that controls nearly 53% of the company’s shares, will fall by slightly more than 2%.

The United Nations Environment Program (UNEP) signed a Memorandum of Understanding. It is aimed at protecting the environment during the preparations for the Olympics and its implementation with the Russian National Committee for the Olympic Games.

Under this Memorandum, UNEP will provide technical support for Russia in its efforts to organize «environmentally friendly» Olympics.

At the signing ceremony the representative of UNEP Teodore Aubin stated that he hoped that the new arrangements would be a sort of guarantee that during preparation and holding of competitions measures will be taken to protect nature in Sochi and the whole Krasnodar region as well.

Organizers of the Olympic Games in Sochi plan to invest 1.75 billion dollars in projects on energy saving and renewable energy. So they want to offset the greenhouse gas emissions from energy use, air travel and other modes of transport. Other environmental initiatives include the development of «green belt» around town and reforestation in the Sochi National Park.

UNEP recalled that in 2008 Russia on the advice of international experts decided to postpone a number of Olympic facilities. In particular, it was decided to find alternative places for the sledge, bobsled track, Olympic Village and the water intake, which were previously planned to be built on the outskirts of the fragile natural Caucasus Reserve.

Then, in 2008, Prime Minister of Russia Vladimir Putin proposed to build «disputed objects» in other places at the meeting on the problems of compliance with environmental requirements in preparation for the Olympic Games in 2014, saying that if their construction violated the environmental system, it could not be restored. «In determining priorities – money or ecology – we choose ecology. If the balance of nature is broken, it can lead to a situation that would be impossible to correct for any money », – said Vladimir Putin.

The head of the UN Environment Program Achim Steiner welcomed the Russian Government’s commitment to environmental sustainability in preparation for the Olympic Games in Sochi. He called the decision of Russia an important step towards the «green» Olympics-2014.

Theodore Aubin stressed that the obligations, enshrined in the new memorandum, would not remain only on paper, because the organizing committee «Sochi-2014» joined UNEP «plant billion trees» project on the day of the signing.

However, it is clear that innovation comes along with money, or after it. So, it was necessary to take steps that would allow investors to feel comfortable on the Chinese soil. And Chinese took into account that fact – only 30 years of reform China has attracted $ 860 billion in foreign direct investments to its economy. During this same time, 650 000 enterprises with foreign participation were created, which not only eliminated the dependence of a number of industries from imports, but also became the leading suppliers to the world market. As a result, China went to the first position in the field of high-tech engineering products, ensuring 500 per cent increase in exports of manufactured goods from the level of 2002.

Today, the number of researchers in China is approaching to the one of the United States. The number of graduates in information technology each year grows to 200 000 people, which is five times faster than in the West. The big advantage of China is linked with the age structure of scientists – most have not so long ago graduated.

In order to establish a national innovation system, China will have a long and difficult path. In any case, building technology inside the country, China will not abandon the “purchase” innovation. On this occasion, the Middle Kingdom continues to buy. And the case given is relatively easy – crisis, when many are ready to sell, just to survive. It is no coincidence that at the end of April during the meeting of Chinese Premier Wen Jiabao with his Finnish counterpart Matti Vanhanenom a question was raised about the establishment of a Helsinki district of China Innovation Center. And yet the Chinese Prime Minister praised Finland’s credit-worthiness, and expressed his hope that Finland would allow its citizens to buy bonds of Suomi. To this end, Beijing is going to send a purchasing and innovation delegation to Finland. For this purpose Celestial is ready for feats. And Chinese people have achieved their goals more than once before.