But there are firms that think otherwise. Billabong Enterprises Co, a Hong Kong-based manufacturer and exporter with factories and production bases on the mainland and Southeast Asia, foresaw the trend years ago and transformed itself from a traditional labor glove maker to a high-end environmental goods maker. "It is the unwritten rule of business that one should always keep an eye on long-term development," says Billabong Enterprises managing director C.B. Chiu.

Chiu founded the company in the 1950s in Hong Kong when labor-intensive factories were the backbone of the city's economy. But today, more workers need water and air filters. "Our job is to meet the need of the community. We have to shift from masks to high-end products and extend our product catalog to more environmental protection sectors," he says.

Not all business people, however, have the foresightedness and the wherewithal of Chiu, and hence face a future of uncertainty.

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