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Hello, and welcome to this week's Biz China. I'm your host Lin Lin..
The economic crisis has been on everyone's lips for months. From heavy industries like energy and manufacturing, to service sectors like tourism and catering, the rippling effects can be felt everywhere. What can be done and has been done to avert the crisis? Leaders from the world's largest economy and the largest emerging economy met recently to try to figure out some solutions. We will take a look at the latest round of high-level China-US talks, with both countries struggling to put their houses in order. Also in Beijing, at the Business Week's annual CEO forum, business leaders prescribe remedies for weathering the turmoil.
All this and more after this short break.
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Chinese President Hu Jintao and his U.S. counterpart George W. Bush set up the China-U.S. Strategic Economic Dialogue in September 2006 so their two countries could discuss mutually related topics and avoid misunderstandings. This time around, the deepening global financial crisis has hit both countries, forcing them to create massive economic stimulus plans to avert the fallout. Given the large economic interdependence of the two countries, how will their cooperation help them recover from the crisis? Our reporter XWY takes a look.
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If the China-US Strategic Economic Dialogue is where government leaders meet and address common economic concerns, last week's CEO Forum was the place where we could learn about corporate viewpoints on surviving the "worst case scenario". Sponsored by Business Week, the forum this year focused on helping enterprises avoid the economic crisis. Let's join our reporter Shi Yingying to see what they had to say and do.
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In the face of the economic slowdown worldwide, life is not easy for companies, big or small. Some are struggling to survive and threatened to get swallowed up by the crisis. I caught up with one of the participants at this year's forum who's working with the ailing aviation industry. During the first half of this year, more than 20 airlines across the world declared bankruptcy. The figure may have doubled before the year-end. Dr Munir Majid is chairman of Malaysia Airlines. In the profit report issued last month, the carrier said it has delivered profits consistently for nine consecutive quarters ending September despite the adverse environment. So what about the rest of the year when passenger flows sharply decline and what are some of the precautionary measures the airline has taken to get through the bleak season? Let's have a listen.
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Now let's take a quick look at recent business headlines from around China....
And with that, we have come to the end of another edition of Biz China. If you have anything to say about the show, please feel free to contact us at bizchina@cri.com.cn. Reach us by post at English Service, China Radio International, Beijing, China. The postal code is 100040. You can also log onto our Web site, crienglish.com, to listen to this or any of our previous shows online. With program producer Chen Xin, I'm Lin Lin in Beijing. Till next week, goodbye.
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