Nov. 30 – Despite rapid growth and their large proportions of global GDP, many people in China and India continue to live in poverty.
In this year’s United Nations Human Development Index (a measure based on well-being as judged by income, education and life expectancy) China was ranked 101st out of 187 countries while the World Bank ranked the country 95th in terms of GDP per capita.
In an effort to improve the living standard of its low-income population, China’s central government announced during a national meeting on poverty alleviation on Tuesday that it would raise the country’s rural poverty line to RMB2,300 (US$361) in terms of annual net income, a number almost doubling last year’s RMB1,274. Continue reading
Nov. 29 – China and India have put off sensitive border talks scheduled to take place in New Delhi this week over a speech to be given by the exiled Tibetan spiritual leader, the Dalai Lama, whom the Chinese government has persistently accused of fomenting dissent and actively seeking to challenge China’s sovereignty.
Chinese officials were scheduled to come to New Delhi for the 15th round of special representatives’ talks, which were supposed to start on Monday, November 28. According to the plan, the talks would mainly cover Arunachal Pradesh, an area that has been claimed by China as “South Tibet.” Continue reading
Nov. 28 – Dhanin Chearavanont, the 72-year-old head of Thailand’s largest non-state conglomerate Charoen Pokphand Group (CP Group), has been named Forbes Asia’s 2011 Businessman of the Year.
With a net worth of US$7.4 billion, Dhanin topped the rankings in Forbes Asia’s 2011 Top 40 Rich List released in September, placing him among the world’s 200 wealthiest individuals. Over the past five years, the Thai-Chinese businessman has turned his family-owned local commodity business into one of the top global food powerhouses. Continue reading
Nov. 24 – In contrast to the persistent economic woes affecting the Eurozone and U.S. markets and political instability in the Middle East, the emerging economies of East Asia have attracted a great deal of positive attention. During U.S. President Barack Obama’s Asian tour last week it became apparent that attempts to maximize trade volume in the region by the world’s two major economies – the United States and China – have resulted in promising proposals to increase economic cooperation and growth.
In response to Obama’s “aggressive” political maneuvering recently in the Asia-Pacific region, China has been working on its relations with Southeast Asian nations to try and form an East Asian Free Trade Area, which will include Japan and South Korea. Continue reading
Nov. 23 – Among emerging Asian countries, China, India, and Indonesia appear to be in a fairly strong position to withstand the fallout from the volatile global economy while Malaysia, Mongolia and Thailand seem too vulnerable to cope with an external shock, Fitch Ratings said in a report released this week.
In the report “Emerging Asian Sovereign Pressure Points,” the credit rating agency estimated the potential exposure of emerging Asian economies to the global downturn triggered by the European Sovereign Debt Crisis still looming over the Eurozone. Balance in trade, flexibility of government policy, and emerging Asia’s performance in dealing with the recent Global Financial Crisis will help most countries in the region to overcome further shocks from Europe and the United States. Continue reading
Posted in Finance, Foreign Trade, Markets
Tagged China, Emerging Asia, European Debt Crisis, Eurozone, External Shocks, Finance, Global Financial Crisis, India, Indonesia, Liquidity, Malaysia, Mongolia, Sri Lanka, Taiwan
Nov. 22 – U.S. President Barack Obama returned to Washington on Sunday after completing a nine-day Asian tour highlighted by the decision to station some 2,500 U.S. marines in northern Australia by 2016-17 and the president’s aggressive diplomatic maneuvering during the sixth East Asian Summit in Bali, Indonesia. All of this, of course, has caused great vexation and confusion in Beijing.
The deployment of U.S. troops in Darwin, Australia is a strategically significant move that should not be underestimated; providing direct, concrete action to back up Obama’s rhetoric of a renewed U.S. commitment to the Asia-Pacific region. Continue reading
By Timothy Lam
Nov. 18 – China aims to become the world’s leading supplier of desalinated fresh water through investing heavily in research and development, and by placing goals to quadruple production by 2020 – from the current 680,000 cubic meters a day to as much as 3 million cubic meters per day.
However, water desalination is extremely expensive and, according to the New York Times, desalinated water costs twice as much to produce then it can actually sell for. Continue reading