Word: biotech
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Dates: during 2000-2009
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...just stirring woks or taking the graveyard shift at convenience stores. More than 80,000 Chinese students are studying at Japanese universities, two-thirds of Japan's total foreign college-student population. Upon graduation, they are entering the Japanese workforce, crowding lucrative fields such as IT and biotech. Sheer numbers work in China's favor; each year Japan graduates 100,000 science majors, while China pumps out 2.5 million...
...Tiananmen crackdown hardened many students' resolve to stay abroad. When the pro-democracy protests escalated in Beijing, Chen joined other expatriate Chinese students in their own demonstrations. After earning his Ph.D. in genetics, he stayed in Japan, developing biotech products for Japanese companies. But three years ago, Chen decided that he, too, should profit from China's economic boom. The possible taint of his Tiananmen activism had worn off; plenty of other former protesters were now striking it rich back home. Today, Chen helms a consulting company that helps Japanese pharmaceutical firms conduct clinical trials in China. "Without us, Japanese...
...Port Island, delegations of Chinese businessmen tour a vast technology park where city officials are offering tax breaks in the hopes of creating a new high-tech Chinatown. Chen's company headquarters are already here, as are dozens of other Chinese firms specializing in everything from scrap metal to biotech...
Argentina is just as sensibly working to cut its dependence on commodities-- the bane of almost every Latin economy. Argentina, which has one of the region's more skilled workforces, recently passed a biotechnology-promotion law to channel incentives to biotech firms. One, Bio Sidus, with $40 million in annual sales, is pioneering an affordable human-growth hormone from the milk of genetically modified calves cloned 60 miles (97 km) from Buenos Aires. "Our traditional cattle-ranching experience gives us a big advantage," says Bio Sidus president Marcelo Argüelles. "But our biggest challenge is obtaining financing at international rates...
Ting's modest credentials didn't bowl over the high-flying venture capitalists at the Singapore government's Economic Development Board (EDB), which is seeking to boost the country's biotech industry. "Nobody bet on us from the government," he says, an account that officials confirm. So, to fund the company that would eventually make the BPro, HealthSTATS International, Ting sold three of the four medical clinics he was running. "Everyone thought I was mad," he says. Ting launched the BPro in Singapore last spring, and is readying its launch in the U.S., where it has been cleared for marketing...