China and emerging markets offer opportunities as well as threats.

As the world’s second-biggest economy – having overtaken Japan last year and still doubling in size every seven years or so – China with its 1.2 billion population represents the largest broadly homogenous market but a potentially frightening competitor.

The Chinese term "weiji" is quoted by corporate venturing veteran Robert Kirschbaum, vice-president of open innovation at Netherlands-based chemicals and pharmaceuticals company DSM, as it signifies the optimism that "every crisis or threat harbours the seeds of opportunity".

So, while…