China takes stock in crisis

Due to the United State's current economic situation, Chinese exports to the U.S. are down from last year and China is undoubtedly effected by America's bout with possible recession and inflation. Despite the economic crisis effecting China and the rest of the world, the Chinese are not taking the full power of the blow due to having a relatively closed economy by standards of a free economy. This semi-closed nature is acting as a buffer, offering China's economy some protection.

China is seeking to boost its local economy in order to deal with a slowing down of its exports. The current economic climate is further reinforcing the benefits of China's gradualist approach to slow reform. In decades past, some suggested China should be open more economically and criticized the country for being shut. Now it's the very "faults" China was once criticized for in the past, that now are empowering it and allowing the country to adapt to the current uncertain economic times.

http://www.atimes.com/atimes/China_Business/JJ08Cb01.html