The global downturn is not just hitting developed, Western markets. The fast-growing, emerging markets of the East are also suffering - and China is no exception. One of the world's most buoyant retail markets in recent years, China is set to see competition in the sector grow even more intense, as retailers battle for ever-more cautious consumers. In this month's just-food interview, Wu Jianzhong, chairman of Wumart Stores, one of China's leading home-grown retailers, insists his company can stand up to the might of Wal-Mart and Carrefour.