Archive for November, 2014

07/11/2014

Myopia: Losing focus | The Economist

SPARKLY, spotted or Hello Kitty: every colour, theme, shape and size of frame is available at Eyeglass City in Beijing, a four-storey mall crammed only with spectacle shops. Within half an hour a pair of prescription eyeglasses is ready. That is impressive, but then the number of Chinese wearing glasses is rising. Most new adoptees are children.

In 1970 fewer than a third of 16- to 18-year-olds were deemed to be short-sighted (meaning that distant objects are blurred). Now nearly four-fifths are, and even more in some urban areas. A fifth of these have “high” myopia, that is, anything beyond 16 centimetres (just over six inches) is unclear. The fastest increase is among primaryschoolchildren, over 40% of whom are short-sighted, double the rate in 2000. That compares with less than 10% of this age group in America or Germany.

The incidence of myopia is high across East Asia, afflicting 80-90% of urban 18-year-olds in Singapore, South Korea and Taiwan. The problem is social rather than genetic. A 2012 study of 15,000 children in the Beijing area found that poor sight was significantly associated with more time spent studying, reading or using electronic devices—along with less time spent outdoors. These habits were more frequently found in higher-income families, says Guo Yin of Beijing Tongren Hospital, that is, those more likely to make their children study intensively. Across East Asia worsening eyesight has taken place alongside a rise in incomes and educational standards.

The biggest factor in short-sightedness is a lack of time spent outdoors. Exposure to daylight helps the retina to release a chemical that slows down an increase in the eye’s axial length, which is what most often causes myopia. A combination of not being outdoors and doing lots of work focusing up close (like writing characters or reading) worsens the problem. But if a child has enough time in the open, they can study all they like and their eyesight should not suffer, says Ian Morgan of Australian National University.

Yet China and many other East Asian countries do not prize time outdoors. At the age of six, children in China and Australia have similar rates of myopia. Once they start school, Chinese children spend about an hour a day outside, compared with three or four hours for Australian ones. Schoolchildren in China are often made to take a nap after lunch rather than play outside; they then go home to do far more homework than anywhere outside East Asia. The older children in China are, the more they stay indoors—and not because of the country’s notorious pollution.

via Myopia: Losing focus | The Economist.

07/11/2014

Alibaba Looks Ahead to ‘Singles Day’ – Businessweek

So far, Alibaba (BABA) is doing a good job living up to the hype that surrounded its record-setting initial public offering. The Chinese e-commerce company yesterday, Nov. 4, reported its first earnings numbers since its IPO raised a record $25 billion in September, and Alibaba’s sales for the quarter increased 54 percent, to 16.8 billion yuan. Although higher costs for integration of newly acquired businesses and other marketing expenses helped drive its earnings down 39 percent, to 3 billion yuan, that result was still better than many analysts had expected.

Merchandise is prepared for Singles' Day online sales on Nov. 5, 2014 in Wenzhou, Zhejiang province, China

“The China retail business is proving to be a powerhouse,” wrote Rob Sanderson, managing director with MKM Partners, in a report published Nov. 4. China’s market, he added, offers “impressive growth even at a very large scale.”

via Alibaba Looks Ahead to ‘Singles Day’ – Businessweek.

07/11/2014

China’s Solar Power Push – Businessweek

As the world’s largest emitter of carbon, China has decided that one of the best ways to clean up its polluted air is through solar power. The country has led the world in solar installations for the last two years and will likely do so again in 2015. It’s on pace to reach 33 gigawatts of solar power capacity by the end of 2014, 42 times more than it had in 2010 and more than exists in Spain, Italy, and the U.K. combined, according to Bloomberg New Energy Finance. (The U.S. will have 20 gigawatts by the end of this year.)

Most of China’s solar power comes from sprawling utility-scale solar farms in the country’s rural west. Now the idea is to distribute solar panels in urban areas, putting them on top of office buildings and factories and connecting them to the grid without building miles of costly transmission lines. In 2015, BNEF estimates that China will add as much as 15 gigawatts of solar capacity, enough to power roughly 16 million homes. More than half of that increase will come from cheap panels installed on commercial buildings. If the 2015 projection holds, China will have installed twice as much solar power in factories and office towers in one year than currently exists in all of Australia, one of the world’s sunniest countries.

via China’s Solar Power Push – Businessweek.

07/11/2014

China vs. India? It’s India by a Nose, Roubini Says – Businessweek

Nouriel Roubini is an India optimist. The country may have spent years lagging behind fast-growing Asian neighbors, such as China, but the NYU professor and chairman of Roubini Global Economics sees a role switch ahead, he told Bloomberg Television today.

Nouriel Roubini: Indian Tortoise Will Soon Pass Chinese Hare

Economic growth in China, weighed down by an aging population and an obsolete investment-driven economic model, is going to fall to 6.5 percent next year and will drop below 6 percent in 2016, “while in India, with the right reforms, it could go to 7 percent,” he said. “So for the first time ever the tortoise becomes the hare and the hare becomes the tortoise.”

China’s leaders know the problems they face, according to Roubini, who is visiting Hong Kong for a Barclays-sponsored conference, but so far they have been reluctant to follow through on promises to address them. “The Chinese understand their growth model is unsustainable—too much fixed investment, not enough consumption,” Roubini said.

via China vs. India? It’s India by a Nose, Roubini Says – Businessweek.

07/11/2014

India vs. China: The Battle for Global Manufacturing – Businessweek

With its chronic blackouts, crumbling roads, and other infrastructure woes, India should have no appeal for John Ginascol. A vice president at Abbott Laboratories (ABT), Ginascol is responsible for ensuring that the company’s food-products factories run smoothly worldwide. He can’t afford surprises when it comes to electricity, water, and other essentials. “People like me,” he says, “dream of having existing, good, reliable infrastructure.”

Yet Abbott has just opened its first plant in India, and Ginascol says there haven’t been any nightmares so far. In October the company began production at a $75 million factory in an industrial park in the western state of Gujarat. The factory is producing Similac baby formula and nutritional supplement PediaSure, which Abbott plans to sell to the growing Indian middle class. The plant will employ about 400 workers by the time it’s fully up and running next year. As for India’s infrastructure, Ginascol has no complaints. The officials in charge of the park “were able to deliver very good, very reliable power, water, natural gas, and roads,” he says. “Fundamentally, the infrastructure was in place.”

Indian Prime Minister Narendra Modi is hoping other executives will be similarly impressed with the ease of manufacturing in his country. Before Modi took charge in New Delhi, he headed the state government in Gujarat, and during his 13 years in power there he made the state an industrial leader. Manufacturing accounts for 28 percent of Gujarat’s economy, compared with 13 percent for the country as a whole, and a touch less than the 30 percent figure for manufacturing titan China.

via India vs. China: The Battle for Global Manufacturing – Businessweek.

07/11/2014

India’s Aging Military Equipment Claims Another Life – India Real Time – WSJ

Indian warships and aircraft are continuing to scour the seas off the country’s southeastern coast in search of four sailors who went missing after a torpedo recovery vessel sank on Thursday evening claiming the life of one sailor.

A navy official said the A 72 vessel, that is over 30 years old, sank while on a mission to “recover practice torpedoes fired by fleet ships during a routine exercise, when she experienced flooding in one of her compartments”.

Soon after the incident, navy ships rescued 23 of the 28 sailors on board, he said.

“Nine ships and some aircraft have been deployed to look for” the missing sailors,” the official said.

Despite the increased focus on safety, India’s armed forces, particularly the navy, have been hit by a series of accidents recently, some of them deadly.

In March, a naval commander died during a gas leak in destroyer that was under-construction in a shipyard in Mumbai.

On Feb. 26,  after a fire on INS Sindhuratna—a Soviet-built submarine–left two submariners dead, India’s naval chief, Admiral D.K. Joshi, resigned taking “moral responsibility” for a series of fatal naval accidents under his watch.

The most devastating took place in August last year when 18 sailors died after explosions and a fire rocked a Russian-built sub, INS Sindhurakshak, in a Mumbai dockyard.

The incidents cast a shadow over the South Asian country’s efforts to modernize its military mainly by replacing Soviet-era equipment.

Prompted in part by the rapid modernization of the Chinese navy and buildup of China’s naval presence in the Indian Ocean, Prime Minister Narendra Modi’s government is increasing its focus on maritime security.

via India’s Aging Military Equipment Claims Another Life – India Real Time – WSJ.

07/11/2014

China, Japan set aside isle row, paving way for leaders to meet | Reuters

China and Japan agreed on Friday to work on improving ties and signaled willingness to put a bitter row over disputed islands on the back burner, paving the way for their leaders to meet at an Asian-Pacific summit next week.

The agreement, ahead of an expected ice-breaking chat between Japanese Prime Minister Shinzo Abe and Chinese President Xi Jinping at the gathering in Beijing, signals a thaw in ties between the world’s second- and third-biggest economies.

Relations have been soured over the past two years by the territorial row, regional rivalry and the bitter legacy of Japan’s wartime occupation of China.

Abe said the two sides were making final arrangements for one-on-one talks, although neither he nor China’s foreign ministry confirmed that the talks were set.

“Both Japan and China are coming to the view that it would benefit not just the two countries but regional stability if a summit is held,” he told a TV program.

via China, Japan set aside isle row, paving way for leaders to meet | Reuters.

05/11/2014

India to foreign CEOs: ‘We’re waiting for you’ – Businessweek

India’s finance minister is urging foreign investors to help plug enormous gaps in the country’s infrastructure blamed for holding back growth.

“We are waiting for you,” Arun Jaitley told a roomful of international and Indian CEOs attending the India Economic Summit, one of the World Economic Forum’s satellite summits held around the globe.

Prime Minister Narendra Modi has enchanted Indians with his vision of a country crisscrossed by modern roads, high-speed trains, dozens of high-tech smart cities and universal Internet cables.

To get there, India has a long way to go.

The country is beleaguered by a patchy network of pot-holed roads, lumbering railway service and a lack of warehouses that leads to some 40 percent of the country’s produce and grains going to rot.

The country loses about a quarter of the electricity it generates through a leaky, inefficient grid. And hundreds of millions still have no proper home or access to sanitation facilities.

Economists estimate India needs a staggering $1 trillion in infrastructure investment alone. That’s more than half India’s entire gross domestic product for 2013 of $1.87 trillion.

“Infrastructure, let me tell you, we welcome large investment participation, even international participation,” Jaitley said. He said legislative reforms to open industries such as real estate, railways services and even defense would be easy to sell in a country sometimes wary of big change.

Modi, under pressure since taking office in May to boost the economy, has visited countries including Japan, the United States and Australia with the goal of building business ties. He also hosted Chinese President Xi Jinping in September and plans to host Russia’s President Vladimir Putin in December.

via India to foreign CEOs: ‘We’re waiting for you’ – Businessweek.

05/11/2014

India Said to Pull Warships From Kolkata on Terror Threat – Businessweek

India pulled two naval warships out of the Kolkata port yesterday after receiving intelligence that they might be targeted by terrorists, a navy officer familiar with the matter said.

The INS Khukri and INS Sumitra had entered the port of the city previously known as Calcutta late Nov. 3 and had been scheduled to stay until tomorrow for public viewings, said the official, who asked not to be identified because the intelligence data isn’t public. The public visiting program has been canceled, the official said.

Kolkata remains on high alert, K.S. Dhatwalia, a spokesman for India’s Home Ministry, said by phone from New Delhi today. He declined to comment on precautions Indian police and intelligence agencies are taking to thwart an attack and said he wasn’t aware of who was behind the potential plot.

via India Said to Pull Warships From Kolkata on Terror Threat – Businessweek.

05/11/2014

Poetry of a Former Foxconn Worker in China Evokes Images of Factory Life – Businessweek

Before he took his life in late September, 24-year-old Xu Lizhi was a regular contributor of poetry to Foxconn People, the internal newspaper at his sprawling factory complex in Shenzhen. Only after he died did his writing find a wider audience, as factory friends collected his poems for publication in the Shenzhen News.

Safety netting posted around a building in Foxconn City in Shenzhen, China

Like millions of other young Chinese, Xu left his home in rural Guangdong province in 2010 to find work in the big city; he had been working intermittently on Foxconn (2317:TT)’s electronics assembly line for four years.

Following a series of 14 suicides in 2010, the Taiwanese manufacturing giant installed safety nets to prevent workers from jumping off dormitory roofs at its Shenzhen plant. It tried to improve life for its workers: The company raised basic wages and installed basketball courts and Olympic-size swimming pools for recreation. Worker suicides declined but did not disappear.

Xu’s poetry gives voice to the alienation he and many others of his generation feel on the assembly line: “I swallowed a moon made of iron/ They refer to it as a nail/ I swallowed this industrial sewage, these unemployment documents/ Youth stooped at machines die before their time/ I swallowed the hustle and the destitution/ Swallowed pedestrian bridges, life covered in rust / I can’t swallow any more/ All that I’ve swallowed is now gushing out of my throat/ Unfurling on the land of my ancestors/ Into a disgraceful poem.”

A frequent theme is how he felt the monotony of factory life sapping away “the last graveyard of our youth.” In one poem, Xu wrote: “With no time for expression, emotion crumbles into dust/ They have stomachs forged of iron/ Full of thick acid, sulfuric and nitric/ Industry captures their tears before they have the chance to fall.”

Xu also described the desolate conditions of his rented room: “A space of ten square meters/ Cramped and damp, no sunlight all year/ Here I eat, sleep, sh–, and think/ Cough, get headaches, grow old, get sick but still fail to die/ Under the dull yellow light again I stare blankly, chuckling like an idiot.”

via Poetry of a Former Foxconn Worker in China Evokes Images of Factory Life – Businessweek.

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