Tuesday, September 30, 2014

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




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2point6billion.com discusses business and investment news rising from the geopolitical relations of China and India, and the interactions these two countries have with the rest of emerging Asia.




China, India See Positives from Copenhagen, Europe Fumes

Dec. 23 – The grouping of China, India, Brazil and South Africa emerged as a significant force in Copenhagen and they are now hoping to lead the way in future negotiations, the head of the U.N. climate panel said on Wednesday.

A climate change meeting ended last week in Copenhagen with a non-legally binding political agreement at the last moment between the United States and the big developing countries of China, India, Brazil and South Africa that form the BASIC group. It was an agreement that  left many in the Europe feeling less than enthused about the outcome.

China is being blamed for derailing the climate talks according to an insiders account of the summit by Mark Lynas in The Guardian. “The truth is this: China wrecked the talks, intentionally humiliated Barack Obama, and insisted on an awful ‘deal’ so western leaders would walk away carrying the blame.”

However, the developing nations do not necessarily feel this way.

“What has happened politically which is very significant is the emergence of this grouping of Brazil, South Africa, India and China,” Rajendra Pachauri, chairman of the Intergovernmental Panel on Climate Change (IPCC) said in New Delhi Reuters reported.

“Undoubtedly whatever agreement comes into existence by the time Mexico completes its conference of the parties, will necessarily have to deal with the power of this group (BASIC).”

The next climate change meeting is being held in Mexico next year, where countries hope to reach a legally binding agreement.

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