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"Challenges and competition can only make strong companies stronger," Wang said. XCMG converted the slump into an opportunity to review its weaknesses and come up with corresponding solutions.

"Capable people are in high demand and so is pay. However, the situation is different from that in the 1990s. At that time, you couldn't find people with real management experience in private companies. Now, you can find capable leaders with enough energy and the drive to do things. With the economic boom in China, every company is competing for talents."

"China and the European Union share similar ideas and attitudes toward some important issues, including globalization, free trade and opposition to trade protectionism."

"China is a true friend of the Philippines because you are giving happiness to the Filipinos, especially to the less-privileged people who live in the remote community," Ranque said.

"China has been investing in infrastructure in South America for a while," Leeds said. "So, from our perspective, we don't think that's news - just additional competition. Brazil and Argentina still have a long way to go, but these investments are certainly closing the gap on their ability to compete with the US."