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.

05/11/2014

China Service and Manufacturing Sectors Slowing, Reports Beijing – Businessweek

In another sign that China’s economy is downshifting, an index released on Monday showed China’s service sector growth slowing in October to a nine-month low. The bad news followed Saturday’s poor showing for manufacturing, which grew at its slowest pace in five months.

Manufacturing in China expanded at its slowest pace in five months

The service reading, issued by the National Bureau of Statistics and China Federation of Logistics and Purchasing in Beijing, fell to 53.8, from 54 in September. Manufacturing came in at 50.8, down from 51.1 the month before. (Above 50 shows expansion.) The economy “still faces some headwinds,” Beijing said in a statement on Saturday.

In October, China’s statistics bureau announced that gross domestic product grew 7.3 percent in the third quarter, its slowest pace since the global financial crisis. “The momentum looks weak,” warned Hua Changchun, a China economist at Nomura Holdings in Hong Kong, reported Bloomberg News on Nov. 3.

via China Service and Manufacturing Sectors Slowing, Reports Beijing – Businessweek.

05/11/2014

As China Urbanizes, Fears Grow That Cropland Is Vanishing – Businessweek

As China’s leaders continue to pursue sweeping urbanization plans, concerns are growing about the fate of the country’s cropland. The latest sign: a joint ministerial announcement that officials must protect agricultural plots on city outskirts from runaway development.

Farming in Gangzhong, China

Prime arable land bordering municipalities and towns and located near traffic routes will be formally categorized as “permanent basic farmland” and preserved for cultivation, announced the Ministry of Land and Resources and Ministry of Agriculture in a notice issued on Monday. Fourteen cities, including Beijing, Shanghai and Guangzhou, will be first to carry out the policy, which is to be rolled out nationwide by the end of 2016.

“During rapid urbanization, high-yield farmland has been gradually ‘eaten’ by steel and cement,” said Land and Resources Minister Jiang Daming, reported the official Xinhua News Agency on Nov. 3. “It is a pressing problem that the expansion of cities is encroaching on prime farmland,” said the notice.

via As China Urbanizes, Fears Grow That Cropland Is Vanishing – Businessweek.

05/11/2014

India’s Services Activity Stagnates in October – India Real Time – WSJ

India’s services sector stagnated in October following five months of expansion, but industry executives remain optimistic that activity will strengthen in the coming year as the economy steadily recovers.

The seasonally-adjusted Service Sector Business Activity Index fell to 50.0 from 51.6 in September, according to a HSBC HSBA.LN -0.57% index released Wednesday. A figure above 50 indicates expansion while one below points to a contraction.

Underpinning the stagnation was weaker new business growth. Orders received by service sector firms increased at the weakest pace since May, HSBC saHSBA.LN +1.01%id.

Some sectors such as post and telecommunications showed strength, but their performance was offset by contraction in others such as the hospitality sector, HSBC added.

“On the positive side, business confidence rose to the strongest in three months, with the hospitality sector being most upbeat about the outlook,” HSBC joint head of Asian economic research Frederic Neumann said.

via India’s Services Activity Stagnates in October – India Real Time – WSJ.

Tags: , ,
05/11/2014

How Modi Has Moved Into Kejriwal’s Space – India Real Time – WSJ

The capital of the world’s largest democracy, which has been under president’s rule for the best part of a year, is set for a fresh election.

There’s no firm date yet for the high-stakes Delhi polls, but for one man the stakes are higher than for most.

Arvind Kejriwal, former chief minister and anti-corruption activist, has what some analysts describe as one last chance to unite his fractious, young party and revive his own flagging political fortunes.

Mr. Kejriwal’s Aam Admi Party, which stormed Delhi’s political scene last year with its anti-graft slogans and innovative grass-roots campaign, has struggled to remain relevant since national elections in May, in which it won just four out of 543 parliamentary seats.

In part, analysts suggest, this is because his common man calling card and campaign for a corruption-free India have been appropriated by the leader of the ruling Bharatiya Janata Party, Prime Minister Narendra Modi, leaving the AAP headman little space to distinguish himself.

Despite their wide economic and ideological differences, Mr. Modi does appear to have encroached on Mr. Kejriwal’s political ground in recent months.

Let’s look at the evidence.

First, the broom. Mr. Kejriwal’s party made the tool of India’s army of sweepers a weapon in his political arsenal.  As AAP’s symbol, the broom was a visual metaphor of the party’s aim to clean up politics in India.

Mr. Modi has taken the metaphor and made it literal. With a broom in hand last month, he promised to literally clean up India. Everyone from Bollywood stars to opposition politicians has taken up brooms to join him in the sanitation program.

via How Modi Has Moved Into Kejriwal’s Space – India Real Time – WSJ.

04/11/2014

Ebola crisis highlights China’s philanthropic shortfall – China – Chinadaily.com.cn

China has contributed over $120 million to fight the spread of the Ebola virus, but its billionaire tycoons – it has more than anywhere outside the United States – have, publicly at least, donated little to the cause, underscoring an immature culture of philanthropy in the world’s second-biggest economy.

Ebola crisis highlights China's philanthropic shortfall

As the ranks of China’s wealthy and the success of its corporations grow, donating to good causes has yet to take off in a significant way. China sits towards the bottom of the list of countries where people give money to charity, volunteer or help a stranger, according to The World Giving Index, compiled by the Charities Aid Foundation.

China rushes help to Ebola-hit countries

Donations to charities totalled 98.9 billion yuan ($16.1 billion) in 2013, according to Chinese government data, recovering from two straight years of declines. For comparison, Americans gave more than $335 billion, according to the National Philanthropic Trust website.

Many big Chinese companies have invested in Africa – China is Africa’s leading trading partner – and several operate in West Africa, where Ebola has been at its most lethal, killing close to 5,000 people. These include construction, infrastructure and telecoms firms such as Huawei Technology Co Ltd, China Henan International Cooperation Group and China Communications Construction Co Ltd.

A Huawei spokeswoman said Africa was an important market, but declined to comment on philanthropy or specific ventures in Ebola-hit countries. China Henan and China Communications Construction did not respond to requests for comment.

The World Food Programme (WFP) last month called on Chinese firms and tycoons to donate more to fighting Ebola.

“No one’s been willing to do anything big yet,” said Brett Rierson, the WFP’s China representative.

via Ebola crisis highlights China’s philanthropic shortfall – China – Chinadaily.com.cn.

Law of Unintended Consequences

continuously updated blog about China & India

ChiaHou's Book Reviews

continuously updated blog about China & India

What's wrong with the world; and its economy

continuously updated blog about China & India