If you scoffed at the last time someone told you not to cut your nails at night or to beware of bad luck because a black cat had crossed your path�or to hang three green chillies, a lemon and a small peice of coal on a string for good luck because you thought you were ‘modern’, and didn’t believe in superstitions, think again.�

If you thought the global recession or US sub prime rates led to the bloodbath on the�Asian bourses�on Monday and Tuesday, think again. ��

The Bombay Stock Exchange’s big bad black bull.

While rational behaviour is generally not expected from the stock market, 300 stock brokers on Tuesday protested outside the Bombay Stock Exchange against the newly installed ‘panvati’ (disaster) bull.� At five feet high, eight feet long and weighing over a tonne, since it was installed at the begining of this year, �the black bull was blamed for causing turbulance and leading to the ultimate crash of the BSE, on Tuesday.

Superstitions still run rife in modern day India and China. While some radio, print and Tv journalists blame the black colour of the bull, others blame the day it was launched as numerically inauspicious.

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One of the legacies of Himachal Pradesh from last 300 years is the ‘International Lavi Trade fair� held Rampur Bushahr, near Shimla, Himachal Pradesh, which was once a major trading centre on the old silk route of Kinnaur, Tibet, Ladhakh and Afganistan. Held between 11th to 14th November every year, it attracts thousands of people from all over India and many from across the globe either visit the fair for trading or touring purposes (Rampur is also a famous tourist destination)

The fair is believed to have started as a memorial to the treaty concluded in 1681 between Tibet and Bushahr State during the rule of a king -Kehri Singh (1636-96 AD) thereby immensely increasing the trade between the two, a situation China now wishes to continue to develop.

From pashmina wool, varieties of dry fruits ,machine manufactured goods Chinese artifacts, such as jewellery, Chinese Jackets, Track Suites, Crockery, handicrafts, tea, herbs and even ‘bushy Yak tails’ are being displayed on the Tibetan and Kinnauri stalls .Special cultural programmers are also organized in the evenings to give the environment a complete feel of social, cultural and economic linkages.

So those of you who are excited to be a part of the biggest trade fair of the greater Himalayas and have been waiting to buy those �real� pashmina shawls and other products, set in your calendars now for the next year.

India-China trade has been picking up recently � with Kunming just establishing direct flights to Kolkotta (Calcutta), another reopening of trade paths that have been closed for over 60 years. Indeed, Kolkotta possess India�s largest China town having been the main port of exit for goods from Lhasa during much of the time of the Dalai Lama. With previous tense border situations now a thing of the past, both China and India are keen to reestablish ancient traditional and previously lucrative trade between the two countries, and Tibet, sandwiched between the two may reemerge as a trading centre.

Cricket � evokes passions within South Asia synonymous to those exhibited by the Latin Americans & Europeans for Soccer.

An English sport � primarily now played in the�Commonwealth Nations,�the former British colonies. The centre of gravity of the sport is though now centered on India where it evokes a billion passions and several more $$$. No longer is it the gentleman�s sport played over the English greens in pristine whites for it is characterized by raucous crowds screaming their hearts out. Indian wins within India are cheered by scenes depicting those of street parties and fire works displays of the nature on display at the millennium eve�s party on the Sydney harbour while losses at times result in extremes from violence, discussions within the parliament (YES) to burning of effigies of the cricketers. Why? Only for cricket being the sport which puts India a force to reckon with � a country of a billion + which struggles to draw a single �gold� in the Olympics! Not to mention the cricketers are amongst the highest grossers in the country and including endorsements their annual take homes runs into millions and millions of $$.

But then � I am not here trying to write on Indian Cricket but rather cricket in China!

The Chinese cricket team is the team that represents the country of the People’s Republic of China in international cricket. They became an International Cricket Council affiliate member in 2004. Hong Kong is a member of the ICC in their own right, becoming an ICC associate member in 1969. Hence, players from Hong Kong are not eligible to represent China in international competition.

Although cricket was brought to China by the British as long ago as 1858, the game was never taken up by the locals and, beyond a few expatriate tournaments, did not exist in the world’s most populous nation until the start of this century. (more…)

Scams in India are not uncommon. But this one is linked to the official in the state government of Delhi and Delhi Development Authority (DDA), a Delhi government body, responsible for distribution of land & also for undertaking major housing projects .

The investigations done by the Central Bureau of Investigation (CBI), the investigating authority of the Indian government, points fingers on one Ashok Malhotra, who in the 1980�s was selling, ‘Masala Chai� � tea made with spices & herbs and ‘Chole Kulche� - a very popular north Indian dish made of chick peas and fresh fried bread. Later in 1986, he managed to get contract for running a Canteen in Delhi State Assembly (a seat of political power in Delhi). This helped him to develop contacts with influential persons in the state government and use these for amassing wealth through unfair means.

He is in the news all over India, for being involved in a criminal conspiracy with DDA officials to fraudulently acquire more than 5,000 plots of land in Delhi, which were meant for resettlement of slum dwellers.

CBI raids at his own posh residence & that of his relatives have revealed some astonishing facts. He is accused of having 52 luxury cars with VIP number plates, huge sum of hidden cash and more than seven kg of gold!! CBI has also found fake ration cards, official rubber stamps, allotment letters of plots and fabricated land sale deals.

In an interview with a popular TV channel, Malhotra has admitted his links with the government officials that have helped him in his passion for acquiring VIP car numbers. The enquiry is in progress and he is now in CBI custody for further interrogation.

Has such a thing ever happened in China, if you know of any, share it here.

India is undergoing an unprecedented consumption boom. Indian consumers have never felt better before. They are confident shopping as they are contended on major fronts such better job prospects, easy loans and increasing salaries.

The International Marketing firm, ACNielsen conducted an international survey covering 47 countries to study Consumer Confidence and Opinions. The results for the first half of 2007 shows India as the topper for the 5th consecutive year scoring 135 points while the global average was just 97. The figure has been in line with India�s booming economy reported to be at an 18 years all time high at 9.4% last month. China was at 99 just close to the average figures.� Below is a bar diagarm depicting trends in the Consumer Confidence Index in 2006 and for first half of 2007.

More on this can be read at http://www.business-standard.com/common/storypage.php?autono=291308&leftnm=6&subLeft=0&chkFlg=

According to the survey,

- 93 % of the Indian consumers felt that their job prospects in the next 12 months were excellent or good

- 90 % thought great about their personal finances in the next 12 months

- 61 % consider it the right time buy things that they ever wanted, and

- 53 % of Indians wanted to invest in shares of stock or mutual funds

The urban middle class in China and India are spending on durables, home decoration, clothes, mobiles, cars, equity investments, and travel and latest gadgets. A third of Chinese consumers and one fifth of Indians say clothes shopping is their favorite thing to do.

India has never seen so many shopping outlets that it has in the last 4 years. Indians were (had to be) contended with Kiranas (little family owned grocery shops and there are millions & millions of them) when it came to buying dailies and for clothing and accessories there were a few branded outlets. Shopping was an eventful activity mainly on dedicated shopping streets, often open to the vagaries of the weather, sweating it out in Janpath or Karol Bagh in New Delhi or Crawford market & Linking Road in Mumbai. Each Locality within Delhi still has a weekly Bazar and they sell everything you ever wanted. Its like an open shopping complex. Even until 2002-3 we didn�t have many reasonable sized shopping malls. Today there has been an explosion of supermarkets and hypermarkets in India with modern retailers coming in to serve the �new� consumer.

According to a survey about 32 percent of Indians go for shopping once a month where as 22 percent of them indulge in it once a week. Both in China and India mobile phones and cars is almost a status symbol. I believe the rise in Confidence levels in the Indian Consumer (similar in China in many ways) can be attributed to

1. Higher salaries and expectations of its increase with regard to rapid high growth in the economy

2. Increase in double income families

3. One and two leading to higher affordability and disposable incomes.

4. Significantly better job prospects.

5. Easy access to variety of branded goods (The word branded was earlier connected with gifts from foreign relatives visiting us in India in summer holidays)

6. Change in fashion and trends following the more developed countries � obviously is attributed to higher dispensable incomes

7. Increased competition from international players and growing domestic market thus lowering down prices thereby bringing goods within reach of the middle class

8. Loans on easy terms thus moderating the ideology of every Indian household to �save & Invest� only

9. Concept of shopping in multiplexes being new and they are loving the �discovery�. These malls are more than just about buying. They are entertainment hubs and millions of Indians living in congested accommodations find themselves easing out in a one stop shop with movies, food courts, and clothing outlets.

To conclude: The consumer in India and China is changing rapidly. The young middle class, below 30 years and constituting majority of their population are aspirational of their needs, ambitious, hard working and have money to spend on trends. They are brand-conscious and aware of what the West is doing in fashion and style, making shopping almost a national pastime.

China overtook Britain to be the worlds 4th largest economy in 2005. Predictions in January 2007 (considering China growing rapidly) were that it would go up the ladder to number 3 position by 2008. It�s mid of the year 2007, China has already reached there leaving Germany behind and there seems to be nothing stopping it.

So does China has an unstoppable growth or is it heading for a negative development?

Check out the article, �What might stall the �Great Chinese Growth Engine�? by the friend and contributor of 2point6billion, Shantanu Bhagwat of Global Themes blog as he shares his learnings from the lecture of Wing Thye Woo, Professor of Economies at the University of California, on �The Real Challenges to China�s Continued High Growth�. Professor Wing has compared the Chinese growth model to a speeding car which could lead to crash in the absence of required actions. These failures are hardware (breakdown of economic mechanism), software (societal disorders) and power (environmental degradation).

On the probability of occurrence of these failures, Professor Wing commented in one of his write ups- � What are the High-Probability Challenges to Continued High Growth in China? �

�My assessment is that the highest probability event in hardware failure is the weakening of China’s fiscal position; the highest probability event in software failure is social disorder, and the highest probability event in power supply failure is water shortage. And my ranking of the probability of these three specific negative events in descending order is social disorder caused by outmoded governance, water shortage as a result of inept environmental management, and fiscal crisis generated by the repeated recapitalization of the state banks and the rapid aging of the population.�

China needs to gear up for necessary institutional reforms if it wants to continue shining at that 11 % plus GDP rate. China knows this and wants it, though might be surprising to many that it needs them while it has survived the 30 years of speed!

Built in the memory of Mumtaz Mahal by her husband Shah Jahan, the fifth Mughal emperor of India, is Taj Mahal, a magnificent tomb made entirely of white marble for over 22 years (construction completed in 1648 C.E ) by thousands of workers at Agra, a northern city of India.

Taj Mahal was constructed using materials from all over India and Asia. Interestingly, Jade and crystals came from China. Chinese friends here in Beijing call it Tai Ji Lin and are excited to see it all the more after being named as one of the seven wonders.

We bring to you a 100 year old picture of Taj Mahal

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(Above middle: Her Excellency, Indian Ambassador to China, Ms. Nirupama Rao; right: Dr. Anil K. Gupta, Ralph J. Tyser Professor of Strategy and Organization, Smith School of Business, University of Maryland; left: Mr. Christopher Devonshire-Ellis, Founding Partner, Dezan Shira & Associates).

Last night we had the wonderful opportunity to have present at our 2nd (montlhy) China-India Working Group Session:

Her Excellency, Ambassador Rao, who gave an honerable and inspirational opening remark on India and China’s blossoming bilateral relationship and parallel movements in growing their economies and seeking harmony in their aims to develop their societies.

Dr. Anil K. Gupta gave a lecture on ‘How to Get China and India Right’ and the importance of China AND India�(rather than China Vs. India).� Much of the points Dr. Gupta made in his speech can be read in�his co-authored piece for The Wall Street Journal�that appeared as a full-page article in the US, Asia, and Europe editions�on April 28th at: http://online.wsj.com/article/SB117735342493979298.html; you may also find interesting two video and audio interviews that WSJ conducted with Dr. Gupta at: http://online.wsj.com/article/SB117735342493979298.html�and at: http://link.brightcove.com/services/player/bcpid572031310�and at: http://podcast.mktw.net/wsj/audio/20070426/pod-wsjgupta/pod-wsjgupta.mp3.

Mr. Devonshire-Ellis also spoke on Indian Special Economic Zones.� His presentation can be viewed at: http://www.2point6billion.com/India_SEZs_Introduction.pdf.

Special thanks to Ambassador Rao and Dr. Gupta for their though-provoking and inspirational talks.

Thanks also to the Capital Club for�hosting our 2nd China-India Working Group Session.� We will be holding our next session in July and will keep you informed once the subject and date is firmed-up.� We welcome any interested professionals to participate and/or join us in delivering a talk on an issue of business, economic and social importance relevant to these two vast countries.� Feel free to submit your suggestions, share an idea or express interest in participating in our 3rd session in July - send an email to: editor@2point6billion.com

Friend of 2point6billion, Jerry Stryker shares a comment on the rich Chinese.� Seems that all the little factoids churing out about the rich and how they got rich trigger some strange deep-down interest of ours hidden in the depths of our souls!� What’s yet more?� Let’s read on…

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Geoffrey York satisfies the urge to know more about millionaires and billionaires in China with this article in Saturday’s Globe and Mail (”Canada’s National Newspaper”), which includes such eye-catching tidbits as:

Over the past two years, the average wealth of China’s richest people has soared by 48 per cent a year;

The skyrocketing wealth of China’s tycoons is best illustrated by a former peasant and bricklayer named Yang Guoqiang, whose family fortune soared to an estimated
$10-billion after his company made its debut on the Hong Kong Stock Exchange last month;

When the owners of a hotel development company found five years ago that they were to be listed at No. 94, they disclosed their true wealth, enough to put them in the top five, where they’ve remained ever since;

All of China’s richest are first-generation entrepreneurs; none of them inherited any wealth;

Most of the richest Chinese people are relatively young, often under the age of 45, and a growing number, 35 of the top 500 on the latest list, are women;

Half of the top 10 richest people are property developers;

A political connection is still extremely helpful on the road to riches. (and a bunch of ‘interesting’ facts on this one but you’ll have to explore elsewhere for these…);

York has been working for The Globe and Mail since 1981 in a variety of positions in Canada and abroad.� He was Moscow bureau chief for eight years before taking over as Beijing bureau chief in 2002.

The full article can be found at: http://www.theglobeandmail.com/servlet/story/RTGAM.20070526.
wxchina26/BNStory/International/

Thanks for sharing these wacky facts with us Jerry!

Slideshow by Jeff Branman (Winner of the Best Presentation award at the �World�s Best Presentation Contest� ShiftHappens.� Shared by Shantanu at Global Themes blog http://global-themes.com/