Archive for ‘Chindia Alert’

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03/08/2012

* China Heads to Soccer Field

WSJ: “Chinese investors will take an undisclosed stake in one of Italy’s most famous soccer teams, and a Chinese construction company intends to erect a stadium for the club, in China’s latest step to raise its profile in Europe.

Europe’s soccer leagues have attracted Asian investors. Diego Milito, right, of Inter Milan in action Thursday.

Internazionale Milano SpA, also known as Inter Milan, said Thursday that a group of Chinese investors plans to buy a stake in the club to become its second-largest shareholder. The company didn’t disclose financial terms or the identities of the buyers.

Inter Milan also said that China Railway 15th Bureau Group Co., a company controlled by listed China Railway Construction Corp., 1186.HK -3.28% will build a stadium for the club that is expected to be completed by 2017. Inter Milan currently shares the San Siro stadium with rival team A.C. Milan, owned by former Italian Prime Minister Silvio Berlusconi.

China Railway Construction said in a filing that it isn’t part of the Chinese consortium buying the equity stake. It said its China Railway 15th Bureau unit is in talks with the team over building a soccer stadium and that it will make an announcement when a contract is signed.

The move is the latest by well-funded Asian investors into Europe’s soccer leagues. Hong Kong businessman Carson Yeung bought Birmingham City of the U.K.’s Premier League in 2009, and AirAsia Bhd. Chief Executive Tony Fernandes bought the Premier League’s Queens Park Rangers last year.

It also marks China’s latest step to win construction projects in the West, broadening from the country’s sizable role in big-ticket projects in Africa and other parts of the developing world.”

via China Heads to Soccer Field – WSJ.com.

See also: https://chindia-alert.org/2012/02/13/pattern-of-chinese-overseas-investments/

Posted in China alert, Economics, Foreign acquisition, international sport, Uncategorized | Leave a Comment »

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03/08/2012

* China-Made Electronics Pour Into India

WSJ: “India is more concerned than ever about its yawning trade gap with China, as The Wall Street Journal detailed in a front-page story today.

But it isn’t just the volume of trade that’s at issue. It’s the mix.

While India exports mostly raw materials to its neighbor, China is selling more sophisticated manufactured goods – translating into better profit margins and higher paying jobs for workers. That disparity underscores India’s lack of manufacturing capabilities – and, for some national security hawks, it’s raising questions about whether India is too reliant on its rival for vital technologies.

One clear example of the trend is electronics. Overall electronics-related exports from China to India jumped from $2.8 billion to nearly $12 billion in the five years ending March 31, 2011. Computer hardware from laptops to accessories like USB dongles accounted for $1.5 billion in China’s exports.”

via China-Made Electronics Pour Into India – China Real Time Report – WSJ.

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Posted in China alert, Chindia Alert, Economics, exports, free trade, India alert, Technology, Trade | Leave a Comment »

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03/08/2012

* China: The paradox of foreign education

BBC News: “There was a time when Chinese students who obtained higher education abroad were considered to be the most fortunate of their generation.

After graduating from elite universities in the US and Britain, they were virtually guaranteed the best career prospects upon their return.

Those students were colloquially referred to as sea turtles – returning home with the world on their backs.

But things are different now.These very students are now referred to as seaweed – washed up on the shore, with little or no prospect of finding work once they return home.

So why are foreign education qualifications not valued as highly as they once were?

“The reason employers valued them in the past has probably changed,” says the regional director of the specialist recruitment company Hays.

According to Simon Lance, the main turning point centres around speaking another language.

“Previously, studying abroad brought with it some very strong language skills,” he says.

But Chinese universities have come a long way in the past decade in the teaching of languages, and the skills obtained abroad are therefore less crucial.

Some people question whether it now makes sense to seek education abroad.

“If the expectation is that the qualification itself will automatically guarantee a high-paying job, then the answer is no,” says Mr Lance.

“But as part of a long-term career plan with a multinational company then it is a very good starting point,” he says.

However, Mr Lance also suggests any graduate studying abroad should seek work experience overseas as well.

“That would give them a much better competitive advantage when they return to China as opposed to just having the qualification itself,” he says.”

via BBC News – China: The paradox of foreign education.

Posted in China alert, Economics, education | 2 Comments »

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02/08/2012

* India allows Pakistan investment

BBC News: “India has announced that it will allow investment from Pakistan in what is seen as a boost for bilateral economic ties.

The commerce ministry said a citizen or a company of Pakistan is permitted to make investments in India.

However, no such investments can be made in defence, space or atomic energy, the ministry said.

India and Pakistan resumed formal peace talks last year after they were broken off following the 2008 Mumbai attacks.

India blamed the attacks on Pakistan-based militants.

A commerce ministry release on Wednesday said all foreign direct investment proposals from Pakistan would need the clearance of the country’s Foreign Investment Promotion Board (FIPB).

“It is a great decision… Now Pakistan should also implement the most favoured nation (MFN) trading status to India,” Rajiv Kumar of the Federation of Indian Chambers of Commerce and Industry (FICCI) was quoted as saying by the state-run Doordarshan news channel.

Earlier this year, Pakistan indicated that it would offer India MFN trading status, which India has already extended to Pakistan.

The move is part of a pledge made last year to liberalise trade with India. Formal trade between the countries is worth $2.7bn a year, while informal trade, by way of smuggling, is believed to be three times that, experts say.”

via BBC News – India allows Pakistan investment.

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Posted in Economics, FDI, Good news, India alert, Politics | 1 Comment »

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01/08/2012

Let us hope that the various calls for reform are genuine and sincere and not an attempt to ‘out’ pro-democrats in the manner of Chairman Mao’s “Let a hundred flowers bloom” call in the 50s that led to the anti-rightist movement and major purges that followed.

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Posted in China alert, Democracy, Good news, Military, Politics, Reform | Leave a Comment »

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01/08/2012

* Chinese military maintains world peace

Xinhua: “China’s Ministry of National Defense says the Chinese People’s Liberation Army makes an important contribution to maintaining world peace and regional stability.

Speaking at a press conference, spokesman Geng Yansheng says the PLA has established military level relations with over 150 countries and set up defense consultation dialogue mechanisms with defense ministries and armed forces 22 countries.

China has taken part in more than 50 joint exercises with armed forces of over 30 countries. All these have helped PLA boost friendly relations and mutual trust with their counterparts.

Geng Yansheng, Spokesman, Ministry of National Defense, said, “The PLA has actively taken part in the UN peacekeeping program. In total, it has contributed more than 20,000 personnel to conduct 23 UN peace keeping missions. This has made China the largest contributing country among the five permanent members of UN security council. It has successfully completed UN mandated peacekeeping missions, such as cease fire monitoring, conflict resolution, supplying transportation and offering medical support.””

via Chinese military maintains world peace – Xinhua | English.news.cn.

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01/08/2012

* China approves Hanlong’s $1.3 billion bid for Australia’s Sundance

reuters: “China has approved Hanlong Mining’s long-delayed $1.3 billion takeover bid for Australian iron ore developer Sundance Resources (SDL.AX), a vote of confidence for a sector grappling with falling prices and weak demand as the global economy cools.

Sundance Resources Limited

Sundance Resources Limited (Photo credit: Wikipedia)

Hanlong, which already owns 17 percent of Sundance, wants the company for its $4.7 billion Mbalam iron ore project on the border of the republics of Congo and Cameroon in western Africa. The region is seen as a major new source of iron ore that could cut China’s dependence on Australia and Brazil.

“We have gotten approval from the National Development and Reform Commission. It was approved yesterday,” a media officer from Hanlong told Reuters on Wednesday.

With the approval from the top economic planner, Hanlong now needs finance from China Development Bank to complete the deal that was agreed a year ago, when the iron ore price outlook was far more positive.

The deal’s lengthy delays had pointed to China’s reluctance to make big bets on risky resources projects offshore amid uncertainty over economic growth at home.

China, the world’s second-largest economy, has seen six consecutive quarters of slower growth and commodity stockpiles mushroom, weighing on prices.

Iron ore prices are languishing near their lowest level in more than two and a half years.

Under the agreement, Hanlong must secure China Development Bank’s blessings by Aug 31 to buy the shares it does not already own at A$0.57 per share, valuing the company at A$1.74 billion.

Media reports in Australia on Wednesday said Hanlong had reduced the deal to 50 cents a share and Sundance board was expected to recommend the new offer. It was not immediately clear whether the offer had been cut. A Sundance spokeswoman declined to comment.

Sundance shares last traded at A$0.335 cents, 41 percent below Hanlong’s offer, reflecting concerns the deal would not proceed. The stock was placed on a trading halt on Tuesday.

Australia’s Foreign Investment Review Board approved Hanlong’s bid for Sundance in June.”

via China approves Hanlong’s $1.3 billion bid for Australia’s Sundance | Reuters.

See also: https://chindia-alert.org/2012/02/13/pattern-of-chinese-overseas-investments/

Posted in China alert, Economics, Foreign acquisition, Natural resources | 2 Comments »

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31/07/2012

* Powerless again: Northern, eastern grids fail

The Hindu: “The northern and eastern grids tripped on Tuesday, leading to power failure in several States of the country affecting hundreds of millions of people.

The northern grid collapsed for a second day on Tuesday afternoon, hours after the power supply was restored in the entire northern region following a disruption on Monday. The eastern transmission lines too failed on Tuesday afternoon, said officials at the Power Ministry and electricity companies.

Services in the national capital came to a grinding halt as power supply snapped around 1.30 p.m. The load fell to 40 MW and all of Delhi’s generation station stopped working, because of the cascading effect of the fault in the grid.

“We don’t have the details yet, but yes, there is a problem with the Grid again. Right now, the priority is to secure power supply for emergency services,” said a senior official of the Delhi Government’s Power Department.

On Monday, eight states attached to the Norther Region plunged into darkness after a grid collapse.

…

PTI adds:

Power supply was disrupted in Delhi, Uttar Pradesh, Haryana, West Bengal, Assam and Punjab, among other States.

“Yes, I’ve heard that the northern and eastern grids have failed. We are looking into the matter. We are inquiring,” Power Minister Sushilkumar Shinde said.

The power crisis led to immediate shutdown of Delhi Metro lines in the national capital, while a host of other services including railways were also affected.

“We are again having problems in northern grid,” K. Soonee, CEO of Power System Operating Co said.

Power Ministry officials said that eastern grid has also failed. The reasons for the grid failure were not immediately known.

While an almost 15-hour power crisis was seen in the northern part on Monday, the crisis on Tuesday reached the eastern region as well.”

via The Hindu : News / National : Powerless again: Northern, eastern grids fail.

Posted in Economics, Electricity, India alert | 1 Comment »

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31/07/2012

This post supports my view that the Chinese authorities are trying very hard to listen to the people.

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Posted in China alert, Citizens's rights, corruption, Democracy, Food safety, Good news, Human rights, Illegal practices, Inequalities, Justice, Petitions, Politics, public protest, Reform, Rule of law | 3 Comments »

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31/07/2012

* Synopsis of “From the Ruins of Empire”

Synopsis from Penguin Books – http://www.penguin.com.au/products/9780241954676/ruins-empire-revolt-against-west-and-remaking-asia: 

“Viewed in the West as a time of self-confident progress, the Victorian period was experienced by Asians as a catastrophe. As the British gunned down the last heirs to the Mughal Empire, burned down the Summer Palace in Beijing, or humiliated the bankrupt rulers of the Ottoman Empire, it was clear that for Asia to recover a new way of thinking would be required.

Pankaj Mishra‘s fascinating, highly entertaining new book tells the story of a remarkable group of men from across the continent who met the challenge of the West. Incessantly travelling, questioning and agonising, they both hated the West and recognised that an Asian renaissance needed to be fuelled in part by engagement with the enemy. Through many setbacks and wrong turns, a powerful, contradictory and ultimately unstoppable series of ideas were created that now lie behind everything from the Chinese Communist Party to Al Qaeda, from Indian nationalism to the Muslim Brotherhood.

From the Ruins of Empire allows the reader to see the events of two centuries anew, through the eyes of these journalists, poets, radicals and charismatics, who created the ideas which in turn were to doom the new empires, and which lie behind the powerful Asian nations of the twenty-first century today.”

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Posted in China alert, Chindia Alert, Foreign invasion, History, India alert | 1 Comment »

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