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But science is progressing rapidly, for instance, in genetics. In Beijing, there is a really strong academic effort in genetics. So I think the science is really quite impressive.

But he also pointed out that only 20 percent of the domestic demand for IC products and services have been met by the Chinese IC companies. More effort can be made to cater to booming domestic demand, which in turn will become another growth engine for the Chinese IC companies, he said.

But now, they have calmed down and are thinking carefully about their future. Some of them have even started up. Li Huqun, a 49-year-old villager at Dawang town in Anxin county, told me he wanted to start a new business. "Our aspirations to live a better life will be satisfied soon with the development of Xiongan, compared with our past status as villagers." Li's family-run workshop makes embroidery products, which used to earn an annual income of 200,000 yuan (,000). The business has been affected because his cloth supplier in the area had to shut down due to pollution concerns.

But one thing is different: The competitive environment has changed.

But more needs to be done. Developing countries spend roughly seven times as much on disaster response as on disaster prevention.