According to this WashingtonPost.com article, China is quickly becoming the next Silicon Valley. The area has seen substantial growth in startups over the past decade because of an aggressive government campaign to attract private investment. The new companies emerging involve websites, telecommunications, biotech development and medical devices. Yet despite the excitement surrounding the technical revolution in China, some fund managers worry that China is creating a bubble that could burst just like it did in the U.S. about seven years ago.

On the other hand, VCs and entrepreneurs point out that Silicon Valley has still remained a prominent tech area, despite the dot-com bust. Some analysts say it's hard to compare the two locations. "The scope of investment is much greater in China. In the U.S., it's all about tech," said Joseph Chan, a managing partner for Pillsbury Winthrop Shaw Pittman.

If your only New Year's resolutions involve working out and cutting back on your coffee intake, you should check out Rhonda Abram's list of resolutions for entrepreneurial companies for 2008. Abrams, president of The Planning Shop, a publisher of books for entrepreneurs, says she's optimistic about 2008, despite the likelihood of an unsettled economy. Here are a few of the resolutions she shares in this USA Today article:

• Evaluate what you did right. See how you can continue or increase your commitment to the positive ways you currently run your business.
• Treat your employees right. If you have high turnover and dispirited employees, resolve to change the way you hire, manage and reward your staff.
• Get your financial information organized. If you're using a wordprocessing or spreadsheet program, get a good, easy financial accounting program.

A California-based company has combined two hot trends--dogs and being green--with their company, Skooperbox. According to this Springwise newsletter, Skooperboxes are small, pop-open boxes made from 100 percent recycled materials. They come with a lid and a scraper, so dog owners no longer have to mess with plastic bags. Not only are they easier to use, but the boxes are completely biodegradable in less than a month. Compare that to 100 years for a plastic bag to degrade. Skooperbox's founders say they started the company because they became frustrated with the available options for cleaning pet waste. "We also knew plenty of good people who did not pick up because of lack of a good product," explained the founders. Skooperbox products are now available in retailers throughout North America and online.

Today, the Labor Department reported that new applications for unemployment insurance are rising--a sign that the job market is softening. Economists were expecting new filings to dip to around 340,000 last week, but 349,000 were reported instead. Economists project an overall slowdown in economic growth for 2008 due to the sour housing market and tight credit.

The year is quickly coming to a close, which means it's time for all the "Best of" lists to declare the winners--and losers--of 2007. The Wall Street Journal has selected their hit and miss advertisements of the year in the article Best of Ads, Worst of Ads . The best ads included Dove's online video showing how an average woman was transformed into a supermodel thanks to heavy makeup, lighting and, of course, airbrushing. The Simpsons Movie advertising campaign was also a hit with viewers, as 12 7-Eleven stores were converted into Kwik-E-Marts, the fictional chain in the TV series. As for the major bombs of 2007, the marketing stunt for Aqua Teen Hunger Force was a disaster, as was the Snicker's commercial depicting two men sharing a chocolate bar and locking lips.

Check out the rest of the article to find out which ads bombed and which struck a chord with viewers. Missed some of the ads? Don't worry; the article includes clips of the advertisements that made the list.

The holidays are a time for spreading cheer to friends, family, and even your clients and co-workers. But sending traditional greeting cards is not only expensive--it's also not environmentally friendly. According to the New York Times, that's why some companies opted for electronic greetings this year. Though they were once seen as tacky, e-cards are generally becoming more accepted in the corporate world. However, corporate etiquette consultants still argue that traditional cards are always a good idea. Business etiquette expert Ann Marie Sabath said clients should receive paper cards, but it's acceptable for colleagues and other business contacts to receive e-mail greetings. One law firm interviewed in the article said it sent out about 10,000 e-cards this year, though individual partners sent out 1,200 traditional cards on their own dime. "There's plenty of people who have a client base who think they're not ready to convert yet," said Eric B. Rothenberg, a partner at law firm O'Melveny & Myers. "We're sensitive to the fact that we have lots of clients who might not treat a paper card as kindly as they would in the past."

What starts as casual blogging could turn into much more. Zach Brooks is proof. His blog, discussing cheap lunches around Manhattan, earned him $1,000 this month. It's called Midtown Lunch, and it receives about 2,000 readers daily. Brooks is part of an emerging group of bloggers with a couple thousand hits a day that's also earning a couple thousand dollars each month. According to this Yahoo! News article, programs like Google's AdSense are helping bloggers tap into online advertising dollars. According to the Internet Advertising Bureau, advertisers spent $16.9 billion online in 2006. In the first half of 2007, online advertising already reached almost $10 billion.

For Brooks, his blogging has also led to other opportunities. Not only has be met close friends through his site, but he's also scored freelance writing assignments.

A new social networking site is giving restaurateurs an online spot to chat industry talk with other like-minded foodies. It's called FohBoh, a combination of the insider terms "front of house" and "back of house." According to Springwise.com's newsletter, it's a vertical social network dedicated to those involved in the global restaurant industry. Tools include personal profiles, blogs, forums, groups, photos and videos. Right now, registration is free, but the site will eventually offer a subscription service that includes access to a job bank and restaurant marketplace. In addition, the site will promote interaction outside of its web world through sponsored live events around the globe for networking and education.

The holiday season wasn't too merry for most retailers, according to MasterCard Advisors, a division of the credit card company. Analysts say higher gas prices, a slowing housing market and a tight credit market all contributed to bleak holiday spending. MasterCard Advisors found that spending from Thanksgiving to Christmas rose 3.6 percent over last year--the weakest performance in the last four years. Comparatively, sales grew 6.6 percent in 2006 and 8.7 percent in 2005. Though the beginning of the shopping season held promise with strong demand for must-have electronics, that demand trailed off in December.

On the other hand, luxury purchases rose 7.1 percent. Analysts say the biggest winners this holiday season are Wal-Mart and Best Buy. But shoppers aren't ready to throw in the towel just yet--MasterCard Advisors predicts shoppers will spend about $60 billion over the next seven days.

"Paper or plastic?" is a question that is slowly going out of style. According to this San Francisco Chronicle article, the reusable grocery bag market is exploding. "If you asked me two years ago, there were dozens of reusable bags. Now there are a hundred or more," said Vincent Cobb, founder of ReusableBags.com, an online store that sells grocery totes. Companies like ChicoBag, My Own Bag and Olive Smart bags are making reusable bags easier to use and more aesthetically pleasing.

At the same time, major supermarkets across the country are manufacturing and selling reusable bags with their own logos and at lower prices than many of the smaller, independent companies.

Despite the "bigger is better" mentality for the super-rich in 2007, analysts are predicting the wealthy will downsize in the New Year. According to this Wall Street Journal article (subscription required), growing concerns about inequality and the environment, coupled with the fallout from the debt-market crisis, will create a year of moderation for the super-rich in 2008. The article says to expect buzzwords like "mass luxury" and "exclusive" to be replaced by "authenticity" and "sustainability." But that doesn't mean the rich will stop spending altogether. That's because they have more of a financial cushion than average consumers, and receive the majority of the nation's wealth and income growth.

Part of the expected "downsizing" effect will likely motivate the super-rich to live in green-friendly eco-mansions with drought-averse gardens. And they'll still fly private jets, but they'll run them on new "green" programs. Other trends expected to catch on after Jan. 1 include a slowdown in the prices for art, wine, vintage cars and other collectibles, in addition to more millionaires seeking out unusual experiences instead of Gucci bags and Bentleys.

The MIT Clean Energy Entrepreneurship contest is looking for the next generation of energy entrepreneurs. $200,000 cash is the top prize being awarded by the Massachusetts Institute of Technology, NSTAR Electric & Gas Corporation and the U.S. Department of Energy. "The ultimate goal of this contest is to find innovative solutions to transform today's energy systems into tomorrow's sustainable energy future," said MIT President Susan Hockfield in a press release. The competition, which will be held on the MIT campus, is open to both student and non-student teams of all experience levels. All teams will receive mentoring and exposure. The semifinalists and finalists will present and defend a business plan before a panel of clean energy industry experts and VC judges.

Entries are due by February 15, 2008. The final prize will be awarded in May. Click here to register.

Local.com, a local search engine, is giving small-business owners another reason to advertise on their site. Today, the company announced they're extending their reach thanks to a strategic partnership with Citysearch, an online guide. The relationship will allow Local.com to benefit from additional advertiser revenue and content on its site, including more than 1 million editorial and user reviews, business coupons and photos. Citysearch will also increase its advertiser reach on Local.com and its distribution network of more than 400 regional media sites. "This relationship allows our merchants to expand their local advertising reach and connect with more consumers, while delivering a consistent message across the local web," said Rob Angel, Citysearch's vice president of media and advertising.

Have you ever seen something funny happen, or heard an interesting comment that you wished you could blog right away, but didn't have a computer nearby? A new trend spotted by Trend Central's Intelligence Group could soon change that dilemma. "Blog bars" are computer terminals that give the public the ability to post in real time and on location. These bars are already popping up in locales as a creative way for consumers to experience brands, stores and events. Consumers can immediately post thoughts and reactions, and pose questions that are immediately answered. If you're a retailer serving mostly young people, you may want to consider picking up on this trend. As Intelligence Group points out, young people can't say enough about how important their online lives and identities are.

We've blogged about the popularity of giving gift cards during the holiday season, but here's something we haven't seen before: Healthcare gift cards. Givewell.com is promoting healthy living with their product, a prepaid Healthcare Visa Gift Card. They say it's an ideal gift for college students, elderly parents or expectant mothers. Gift-givers can choose any amount between $25 and $5,000 to load on the card, and the card itself costs $4.95. The healthy gift can be used to pay co-pays at doctor's offices and pharmacies in addition to dental care, vision care, memberships at health clubs and even cosmetic surgery.

The card can be purchased online or by calling 877-850-3774.