Chindia | CHINDIA ALERT: You'll be living in their world, very soon

29/03/2012

* BRICS flexing muscle – to set up joint bank, call for dialogue on Iran & Syria

Times of India: “Seeking to reinforce their growing economic heft with diplomatic clout, the BRICS grouping Thursday pitched for a bigger say in global governance institutions, including the UN and the IMF, and told the West that dialogue was the only way to resolve the Iranian nuclear issue and the Syria crisis.

Brazil, Russia, India, China and South Africa, which comprise nearly half the world’s population and a growing share of global GDP, signed two pacts to spur trade in their local currencies. They also agreed to set up a working group for a joint development bank to promote mutual investment in infrastructure.

Prime Minister Manmohan Singh of India and Presidents Hu Jintao China, Dmitry Medvedev Russia, Dilma Rousseff Brazil and Jacob Zuma South Africa ended the fourth BRICS summit by renewing the pitch for reforming global governance institutions and closer coordination on global issues.The five leaders stressed on the restructuring of the world order to accommodate emerging economies and developing countries and for promoting sustained and balanced global economic growth.”

via BRICS to set up joint bank, call for dialogue on Iran & Syria – The Times of India.

BRICS agree to local currency credits to ease dollar dependency (alethonews.wordpress.com)
Medvedev says BRICS opposes any intervention in Syria (laaska.wordpress.com)
BRICS summit in India to focus on boosting trade (seattlepi.com)

Posted in China alert, Economics, GeoPolitics, India alert, Reform | 6 Comments »

Tags: BRIC, Chindia, Chindiapedia, Dmitry Medvedev, governance institutions, Hu Jintao, India, jacob zuma, manmohan singh, prime minister manmohan singh, South Africa, Syria

28/03/2012

* President Hu arrives in Delhi ahead of BRICS summit

The Hindu: “Chinese President Hu Jintao arrived in New Delhi Wednesday on a two-day visit to participate in the BRICSsummit

BRICS summit participants: Prime Minister of India Manmohan Singh, President of Russia Dmitry Medvedev, President of China Hu Jintao, President of Brazil Dilma Rousseff, President of South Africa Jacob Zuma. (Photo credit: Wikipedia)

and to hold wide-ranging bilateral talks with Prime Minister Manmohan Singh.The Chinese President is accompanied by a high-profile delegation comprising Foreign Minister Yang Jiechi, State Councillor Dai Bingguo, senior ministers and business leaders.

Mr. Hu will meet Russian President Dmitry Medvedev on Wednesday before participating in the BRICS summit on Thursday. Mr. Hu, along with the presidents of Russia, Brazil and South Africa, will attend a banquet hosted by President Pratibha Patil in the evening.

Prime Minister Manmohan Singh will hold talks with the Chinese President on Thursday, on various issues including bridging the trade deficit and fast-tracking the new confidence-building measures. The two leaders are expected to declare 2012 as the year of India-China friendship and unveil initiatives to bolster cultural exchanges and people-to-people contacts.

India is expected is to raise the issue of huge imbalance in bilateral trade which has exceeded $70 billion, with the surplus heavily in China’s favour.”

via The Hindu : News / National : Hu arrives in Delhi ahead of BRICS summit.

Posted in China alert, Chindia Alert, GeoPolitics, India alert | Leave a Comment »

Tags: BRIC, BRICS, China, Chindia, Chindiapedia, Dmitry Medvedev, Hu Jintao, manmohan singh, Pratibha Patil

28/03/2012

* Chinese Vice-Premier Li meets Apple CEO

China Daily: “Vice-Premier Li Keqiang said Tuesday that China will strengthen intellectual property rights protection and continue to transform its economy, when meeting CEO of Apple Tim Cook in Beijing.”To be more open to the outside is a condition for China to transform its economic development, expand domestic demands and conduct technological innovation,” Li said.

He said that trade and economic cooperation together are an “important cornerstone” for the cooperative partnership featuring mutual respect and reciprocity that China and the United States are endeavoring to establish.The vice-premier called on multinational companies to expand cooperation with China, actively participate in the development of the western part of China, pay more attention to caring for workers and share development opportunities with the Chinese side.

Cook said Apple will strengthen comprehensive cooperation with the Chinese side and conduct business in a law-abiding and honest manner.”

via Vice-Premier Li meets Apple CEO Tim Cook|Economy|chinadaily.com.cn.

Posted in China alert, Intellectual Property Rights | 1 Comment »

Tags: Apple, China, Chindia, Chindiapedia, Intellectual property, Li Keqiang, research, Tim Cook

27/03/2012

* Major Chinese industrial companies profits drop 5.2 pct

Xinhua: “Profits for Chinese chemical producers, automakers and other major industrial companies fell 5.2 percent in the first two months of 2012 from the same period a year earlier, China’s statistical authority said Tuesday.

Total profits for the largest industrial companies, or those with annual revenues above 20 million yuan 3.17 million U.S. dollars, stood at 606 billion yuan during the first two months, the National Bureau of Statistics said in a statement on its website.The data highlighted the impact of the sluggish global economic recovery on Chinese companies, especially state-owned enterprises, as exports have slowed due to waning external demand.

The data also represents a significant drop from a 34.3-percent increase registered in the first two months of 2011.”

via Major Chinese industrial companies profits drop 5.2 pct – Xinhua | English.news.cn.

Is China’s economy heading for a hard landing? If so, it will exacerbate the recession in developed nations.

Posted in China alert, Economics, Recession | Leave a Comment »

Tags: China, Chindia, Chindiapedia, Government-owned corporation

26/03/2012

* Indian Govt orders probe into allegation of bribe by Army chief

Times of India: “The government on Monday ordered a CBI inquiry into the allegation made by Army chief Gen V K Singh that he was offered a Rs 14 crore bribe by a lobbyist. A CBI probe was ordered by defence minister A K Antony in the wake of the Army

chiefs allegation, defence ministry officials said.

Earlier, both houses of Parliament were adjourned till 2pm after the opposition MPs created a ruckus over the disclosures made by the Army chief. Terming Gen Singhs allegations as “serious”, Antony told reporters outside Parliament, “We have to handle it…I have taken action.” When asked if the Army chief had informed him about the bribe offer, he said, “Parliament is in session.”

In an interview to a newspaper, the Army chief alleged that an equipment lobbyist offered him a bribe of Rs 14 crore, which he had reported to the Defence Minister. He said the lobbyist offered him the bribe in order to have a tranche of 600 sub-standard vehicles of a particular make cleared for purchase. “Just imagine, one of these men had the gumption to walk up to me and tell me that if I cleared the tranche, he would give me Rs 14 crore. He was offering a bribe to me, to the Army chief. He told me that people had taken money before me and they will take money after me,” Gen Singh said.”

via Govt orders CBI probe into allegation of bribe by Army chief – The Times of India.

Wow, bribery at the highest levels!

Posted in corruption, India alert | Leave a Comment »

Tags: Bribery, Central Bureau of Investigation, Chindia, Chindiapedia, defence minister, India

24/03/2012

* Anna Hazare demands withdrawal of UPAs Lokpal Bill

The Hindu: “Even as the political parties failed to arrive at a consensus on the Lokpal Bill at a meeting convened by Prime

Minister Manmohan Singh here on Friday, social activist Anna Hazare urged the government to withdraw, what he said “was a useless Bill that was too weak to effectively tackle corruption.”

Indicating his intention to launch a bigger anti-corruption agitation than last year if the government did not bring in a strong Lokpal Bill, Mr. Hazare said: “Today, there was an all-party meeting, but no decision was taken because of the failure of the parties to arrive at a consensus. Now, we think whether the government brings Jan Lokpal [formulated by India Against Corruption] or not, we will go to the people’s Parliament.”

Charging the government with “betrayal,” Mr. Hazare said the United Progressive Alliance (UPA) government had gone back on several assurances. He added that the proper thing would have been to discuss all versions of the Bill, including a comprehensive and effective Jan Lokpal in the all-party meeting.”

via The Hindu : News / National : Anna Hazare demands withdrawal of UPAs Lokpal Bill.

Posted in corruption, India alert | 2 Comments »

Tags: Activism, Anna Hazare, Chindia, Chindiapedia, India Against Corruption, Jan Lokpal Bill, Lokpal Bill, manmohan singh

24/03/2012

* Indian govt mediators suspend talks after Maoists kidnap BJD MLA

Times of India: “The Odisha government and Maoist-named interlocutors suspended their talks on Saturday after the extremists abducted Laxmipur legislator Jhina Hikaka late Friday night. Chief minister Naveen Patnaik also sent revenue minister Surya Narayan Patro and SC and ST development minister Lal Bihari Himirika to Koraput from where Hikaka, a 37-year-old tribal MLA of the ruling BJD, was abducted while returning home along with his driver Ugrasen Jambeka and personal security officer PSO Gokula Kandhapan. The ministers will explore back channel possibilities to release Hikaka, official sources said.”

via Govt, mediators suspend talks after Maoists kidnap BJD MLA – The Times of India.

* India kidnapping: Maoist rebels extend deadline (chindia-alert.org)
https://chindia-alert.org/china-2011-roundup/india-2011-roundup/

Posted in India alert, Insurgency | Leave a Comment »

Tags: Chindia, Chindiapedia, India, Maoism, Maoist

23/03/2012

* Indian government committed to an effective Lokpal: Manmohan Singh

Times of India: “Prime Minister Manmohan Singh on Friday said that the United Progressive Alliance UPA government is committed to an effective Lokpal to check corruption. “Our government stands committed to an effective Lokpal legislation,” Manmohan Singh said at an all-party meeting on the Lokpal bill with Rajya Sabha members. “We look forward to benefiting from the wisdom and guidance of all leaders present here in the task that we have set for ourselves,” he said.

The Lokpal bill could not be passed in the Rajya Sabha during the winter session last year due to opposition moving a number of amendments and the government insisting that it needed time to study them. The bill could not be put to vote even after hours of debate on the last day of the winter session.

The opposition had charged the government with shying away from a vote.”

via Government committed to an effective Lokpal: Manmohan Singh – The Times of India.

The Lokpal (People’s Ombudsman) is the embodiment of the efforts of anti-corruption activist Shri Anna. Its protracted delay is causing not only the opposition but the person in the street to doubt the sincerity of the government in enacting the bill.

Posted in corruption, India alert | 1 Comment »

Tags: Chindia, Chindiapedia, India, india prime minister, Jan Lokpal Bill, Lok Sabha, Lokpal, manmohan singh, Rajya Sabha

23/03/2012

* China arrests 300 over contract frauds

Xinhua: “Chinese police in the cities of Hefei, Wuhan and Chengdu have arrested more than 300 suspects for a number of contract fraud cases involving over 10 million yuan (1.59 million U.S. dollars), the Ministry of Public Security announced on

Friday. Police in the three cities busted 13 groups and over 40 companies suspected of contract fraud crimes, and closed 90 illegal sites for such crimes in the past few weeks, the ministry said in a statement.

The actions are part a campaign that police launched at the start of March to crack down on economic crime. Contract fraud involves intentional misrepresentation to deceive the victims into entering into contracts. In most of the cases, the suspects persuaded the victims to become their franchised outlets or producing contractors, took the victim’s money as “equipment fees” or “training fees” and refused to repurchase the products as they previously promised.”

via China arrests 300 over contract frauds – Xinhua | English.news.cn.

The fight against corruption carries on.

Posted in China alert, corruption | 1 Comment »

Tags: China, Chindia, Chindiapedia, Fraud, fraud crimes, Law

22/03/2012

* China factory activity falters, markets take fright

Reuters: “China’s economic momentum slowed in March as factory activity shrank for a fifth straight month, leaving investors fretting about the risks to global growth and anticipating fresh policy support from Beijing. The HSBC flash purchasing managers index, the earliest indicator of Chinas industrial activity, fell back to 48.1 from February’s four-month high of 49.6. New orders sank to a four-month low, an expected rebound in export orders failed to emerge and new hiring slumped to a two-year low.

“With new export orders sluggish and domestic demand still softening, China’s slow down has yet to finish. This calls for further easing to come from Beijing,” HSBC chief China economist, Qu Hongbin, said in a statement. …

Broad-based weakness in the five key components that generate the headline index level surprised analysts, particularly those who had anticipated a clear cut rebound in factory activity in March after the Lunar New Year disrupted output in the first two months and distorted the data. “This data suggests there’s something more profound at work, that it’s not just a Lunar New Year problem and that it’s not just affecting exports, but domestic demand,” Tim Condon, chief economist and head of Asian research at ING in Singapore, said. …”

via China factory activity falters, markets take fright | Reuters.

China’s Recession Begins (247wallst.com)

Posted in Economics | Leave a Comment »

Tags: Business, China, Chindia, Chindiapedia, economy, HSBC, purchasing managers index

CHINDIA ALERT: You'll be living in their world, very soon

Chindia Alert: You’ll be Living in their World Very Soon

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* BRICS flexing muscle – to set up joint bank, call for dialogue on Iran & Syria

* President Hu arrives in Delhi ahead of BRICS summit

* Chinese Vice-Premier Li meets Apple CEO

* Major Chinese industrial companies profits drop 5.2 pct

* Indian Govt orders probe into allegation of bribe by Army chief

* Anna Hazare demands withdrawal of UPAs Lokpal Bill

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* Indian govt mediators suspend talks after Maoists kidnap BJD MLA

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* Indian government committed to an effective Lokpal: Manmohan Singh

* China arrests 300 over contract frauds

* China factory activity falters, markets take fright

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