continuously updated blog about China & India
You will be living in their world, very soon
Beware the Waking Dragon
This is not new news, but I only came across it a few days ago on TED.com
Hans Rosling, world health expert and professor waxes lyrically on Asia’s growth illustrated by his unique graphics.
http://www.ted.com/talks/hans_rosling_asia_s_rise_how_and_when.html
India’s Supreme Court ruled that India had no jurisdction over Vodafones purchase of Hutchison Essar mobile from Hutchison Whampoa, after a 4-year battle. The government was claiming £3bn in tax revenue.
On the face of it, India lost. But analysts say this has reassured international business that India is, once again, a safe place to invest in. Together with the current low market value many global companies may take the opportunity to re-evaluate their options in India.
On 16 January, the Chinese government allowed a non-governmental organisation to lodge a suit concerning the probably causes of cancer in a village due to industrial pollution. This is the first such case and breaks new ground.
The reasons could be; a loosing up of court procedure in the face of increasing anger at industrial pollution bighting lives; an attempt at making owners of factories causing pollution to realise that not only the law is against them, but now non-governmental organisations can take up the cause of the little man in the village and, finally, it makes good press in the run up to leadership changes later in the year.
http://www.scientificamerican.com/article.cfm?id=china-cancer-village-tests-law-versus-pollution
Global warming threatens China’s march to prosperity by reducing crops, shrinking rivers and unleashing more droughts and floods, says the Chinese government’s latest “Second National Assessment Report on Climate Change”.
China is the world’s second biggest economy after the US and the biggest emitter of greenhouse gas pollution, now ahead of the US.
Global warming caused and exacerbated by greenhouse gases from industry, transport and changing land-use poses a long-term threat to China’s prosperity, health and food production, says the report. With China’s economy likely to overtake the United States’ in 20 or 30 years, that has dire consequences.
http://www.reuters.com/article/2012/01/18/us-china-climate-idUSTRE80H06J20120118
A Chinese sovereign wealth fund has invested c£1bn for 8.7% in the water utility that serves London, in what is the fund’s first UK acquisition following talks with British politicians.
The deal follows a visit to China this week by George Osborne, Chancellor of the Exchequer, who has been urging Chinese investors to inject money into British infrastructure projects.
http://www.ft.com/cms/s/0/7b19ca2e-42c0-11e1-b756-00144feab49a.html#axzz1k0uBCqhC
Mr Osborne also made progress in persuading China to use London as the first non-Chinese centre in collaboration with Hong Kong for trading in the Renminbi (RMB). China, of course is keen on diversifying from its vast investment in the slowly declining US dollar into tangible assets; as well as to establish, in time, the RMB as an alternate global currency; especially as, for the time being the Euro is heading nowhere.
http://www.time.com/time/business/article/0,8599,2104536,00.html
In 2011 Chinese banks loaned Mukesh Ambani’s Reliance Mobile $3bn with the condition that it uses Chinese telecoms and energy firms.
This month Chinese banks loaned Anil Ambani’s Reliance Communications $1.2bn with the condition that it uses Chinese telecoms equipment suppliers.
Both parties see these as win-win deals. Indian firms getting loans at lower interest than from local or other banks and China getting more buyers for its technology suppliers.
In November 2011, a consortium of banks including some Chinese banks loaned Duke Energy $6bn to buy the largest US electricity utility. Again, part of the deal was joint development with Chinese firms of eco cities and solar technology. Then the Three Gorges Corp acquired Portugal government’s stake in utility EDP.
http://online.wsj.com/article/SB10001424052970203802204577067013608051698.html
From the Chinese pov, not only are they supporting Chinese industries, but they are diversifying from US bonds into ‘bricks and mortor’ assets.
http://www.vancouversun.com/story_print.html?id=5905203&sponsor=
continuously updated blog about China & India
continuously updated blog about China & India
continuously updated blog about China & India
CHINDIA ALERT: You'll be living in their world, very soon 