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How does Chinese handle the propagation of neologisms?

A rough 1:1 phonetic correspondence between oral and written languages intuitively (to me at least) would be more fit for the creation and propagation of news words, or am I missing some other natural form of conveyance and propagation that exists in the Chinese writing system?

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It's actually extremely easy to create new words using Chinese characters. You simply put existing characters together. To use some computing related terms for example:

mobile phone: 手机（hand machine)

programming: 编程（compose orders)

QR code: 二维码（2d code)

hacker: 黑客（black guest, this also sounds phonetically like "hacker")

For brands and other names, there is a system of transliterating sounds using characters, or simply a literal translation of the name, e.g.

Android: 安卓 (an zhuo)

Microsoft: 微软（small soft)

Apple: 苹果（literally apple)

Note that what the author said was "danger plus oppertunity" for the word for crisis -- 危机 -- shares the same last character as 手机。 While easy to compose and sometimes understand, it's not as simple as the author implied.

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