Apr. 26 – Gyaltsen Norbu, the individual that China’s central government has hand-selected as the 11th Panchen Lama, made his first official speech outside of Mainland China on Thursday.
He took no questions at the World Buddhist Forum in Hong Kong and stayed away from controversial subjects, instead taking the opportunity to talk about Buddhism, Dharma, and using inner peace to achieve social harmony. Continue reading
Apr. 20 – When taken together as a group, the combined members of the Association of Southeast Asian Nations (ASEAN) will become China’s top trading partners by 2015, according to the China Council for the Promotion of International Trade.
Made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, ASEAN last year overtook Japan as China’s third-largest trading partner with bilateral trade reaching US$362.3 billion. This trailed only China’s trade with the European Union (US$567.2 billion) and the United States (US$446.6 billion). Continue reading
Apr. 18 – The most cost-competitive countries in the world for doing business are China and India, according to KPMG’s recently released 2012 Competitive Alternatives report. Specifically, the report found that business costs in China and India are a respective 25.8 percent and 25.3 percent lower than the United States.
The in-depth study is based on 26 key cost factors – including labor, taxes, real estate, transportation and utilities – in more than 100 cities in 14 countries across the world. In addition, the report covers more than 30 non-cost competitive elements and over 50,000 individual data items. Among the 14 select countries, made up of 5 growth markets and 9 mature markets, China and India have emerged as the low-cost leaders, with China offering the lowest costs in manufacturing and India the lowest in digital and corporate services. Continue reading
The Razor’s Edge at Khan Market
Olaf Griese has spent six years with Dezan Shira & Associates in Shanghai and has just recently relocated to Delhi. In this series of articles, he will detail the differences, as well as the pros and cons, of living in both China and India.
Apr. 17 – My normal Sunday routine is watching the F1 Grand Prix or going out to enjoy the sunshine and have a coffee in a nice café. This weekend I was able to do both. After watching the Grand Prix taking place in Shanghai, which finished at 2:30 p.m. New Delhi local time (time difference between New Delhi and Shanghai is only 2.5 hours), I decided to have a stroll around Khan Market.
The distance from my hotel to the market is about 4 kilometers. For such a short distance, a rickshaw was sufficient with a taxi representing the second-best choice. After the usual bargaining procedure (surprisingly similar to China), we agreed on a price off US$1 and we were heading south – passing the India Gate – towards Khan Market. Personal transportation costs are much cheaper in India than in China. For example, you can hire taxis for US$15 per day in New Delhi which includes traveling 40 kilometers within eight hours. Continue reading
Apr. 16 – Bharti Airtel, India’s largest mobile phone company, is in advanced talks with Chinese OEMs to bring “mifi” devices to India. The devices will assist Indian mobile users in accessing the 4G network from their 3G smartphones on the move.
“We’ve tested some Chinese mifi devices at the last Mobile World Congress show in Barcelona and are talking to several OEMs to work out a bulk procurement deal. These portable devices can facilitate mobile access from either a 3G phone or a tablet while on the move,” Mittal said. Continue reading
Apr. 13 – The average Indian working in Mumbai would need to save every rupee of their income for over 300 years in order to purchase a decent-sized apartment in a prime location in the city, according to a cost of living report recently released by Knight Frank LLP and income estimates based on purchasing power parity made by the U.S. Central Intelligence Agency.
The report shows that a 100 square meter luxury residence in downtown Mumbai costs about Rs. 5.8 crore, or slightly over 308 times the average annual income in the city. Meanwhile, the average worker in Shanghai would need to spend a touch over 233 times the average annual wage to buy a similar apartment in the city, ranking it second behind Mumbai. Continue reading