Monday, May 21, 2012

Investment News and Commentary from Emerging Markets in Asia - China, India and ASEAN





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2point6billion.com discusses investment news and events from the emerging markets of Asia - including India, China and the ASEAN countries. It is produced by the Asian foreign direct business advisors at Dezan Shira & Associates from their offices across emerging Asia.




Wen, Singh Harmonize Positions at Copenhagen

Dec. 11 – Chinese Premier Wen Jiabao has called Indian Prime Minister Manmohan Singh to “harmonize” their positions during the climate change summit in Copenhagen.

The two leaders have agreed to cooperate to present a more unified stance against developed countries taking positions that could push both India and China into taking legally binding emission cuts.

India and China also have to stick together, officials told Times of India, because other components of the G-77, such as the smaller island states, have been pushing in directions which are not the direction India and China wish to persue.

The Indian Cabinet has already approved its official negotiating stance for the talks amid questions on whether India would accept international scrutiny for its own measures. Indian environment minister Jairam Ramesh was quoted in the Times of India as ruling out the possibility of the country acquiescing to pressure for verification of domestically funded measures.

The minister assured the cabinet that India would negotiate within the parameters of the Kyoto Protocol and the U.N. Framework Convention on Climate Change.

China and India have both opposed the initial Danish draft circulated during the summit although officials say that both countries contributed to the drafting of the text. Indian officials say this may be a stab at weakening the G77+China grouping.

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