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EU threatens to impose tariffs on steel from China (IHT, December 14)
The European Union on Friday threatened to impose tariffs on steel from China used in the construction industry to shield EU producers, including ArcelorMittal, from cheaper imports, heightening trade tensions. The EU began an inquiry into whether Chinese exporters, including Baoshan Iron & Steel and Wuhan Iron & Steel, sell flat-rolled steel in the EU below cost, a practice known as dumping. The inquiry covers €1.2 billion, or $1.7 billion, of imports of hot-dipped metallic-coated steel.

Report: Canada's trade with China at record level (The People's Daily, December 15)
Canada's total merchandise trade with China soared in the last decade, hitting 42.1 billion Canadian dollars (41.7 billion U.S. dollars) in 2006, federal agency Statistics Canada reported Friday. China now accounts for five percent of Canada's total world trade. Since 2003, China has emerged as Canada's second largest trading partner, passing Britain and Japan, the report says.

U.S. and China relations hit a rough patch (IHT, December 14)
In three days of talks on economic issues, a half dozen Bush administration cabinet members and their aides sat in rows of tables facing their Chinese counterparts this week in an ornate conference room. The talk was polite, the atmosphere convivial and the pledges of cooperation profuse. But it was also obvious to the American side that relations with China were going through a difficult phase, with discord sometimes crowding out the areas of agreement, as Chinese threatened retaliations over U.S. actions that displease them. The irritations are not just in the economic sphere but in the military and political sphere as well.

China sees 13.6% rise in foreign investment in first 11 months (The People's Daily, December 14)
China has actually utilized 61.674 billion U.S. dollars of foreign capital from January to November, 13.66 percent higher than a year earlier, the Ministry of Commerce (MOC) said on Friday. The growth rate is 2.51 percentage points higher than the figure for the first ten months.

Industrial output in China cools (IHT, December 14)
Industrial production in China grew at the slowest pace this year in November, suggesting that weaker export growth and government curbs on lending are starting to cool the world's fastest-growing major economy. Output rose 17.3 percent in November from a year earlier, the statistics bureau said Thursday, after gaining 17.9 percent in October. That was less than the 18 percent median estimate of 21 economists surveyed.

China and India keep building on success (Financial Times, December 18)
Speak to an investment banking executive in Asia and it will not be long before the conversation turns to China and India. Both countries' rapid growth is generating vast opportunities for banks, such as advising local companies on initial public offerings or mergers and acquisitions. While the countries share some similarities - such as a desperate search for talent - the operating landscape for investment banks is noticeably different in many respects. At present, China is by far the bigger earner for investment banks.

China allows foreigners to invest in power grid, ending monopoly of state companies (IHT, December 14)
China is allowing foreigners to invest in its power grid sector for the first time, the country's economic planning agency said Friday, ending a monopoly by state-owned companies. The policy, effective Dec. 1, allows foreigners to invest in the construction and management of power distribution systems, the National Development and Reform Commission said in a statement on its Web site.

Some US companies say China may be losing competitive edge as costs, wages rise (IHT, December 14)
China may be losing its competitive advantage, mainly because of rising costs, according to a survey of companies compiled by the American Chamber of Commerce in Shanghai. Rampant product piracy was another persistent problem highlighted in a report released Friday that was based on a survey of the group's 1,600 corporate members.

US, China struggle to keep it all smiles(Taipei Times, Dec17)
In three days of talks on economic issues last week, a half-dozen Cabinet members of the administration of US President George W. Bush and their aides sat in rows of tables facing their Chinese counterparts in an ornate conference room. The talk was polite, the atmosphere convivial and the pledges of cooperation profuse. But it was also obvious to the US side that relations with China were going through a difficult phase, with discord sometimes crowding out the areas of agreement. The Chinese frequently threatened retaliation over actions that displeased them, in the political and military spheres as well as the economic.

China's new vice commerce minister urges "long, strategic view" on China-US trade(Xinhua, Dec 11)
China's newly appointed Vice Minister of Commerce Chen Deming has urged China and the United States to take "a long and strategic view" on bilateral trade relations and abandon trade protectionism. Chen made the remarks ahead of the Third China-U.S. Strategic Economic Dialogue (SED), scheduled for Wednesday and Thursday. The vice minister said both countries should face up to challenges brought by globalization such as a widening rich-poor gap, the uneven profit distribution among industries and imbalances of regional development.

Indo-China talks to focus on strategic partnership (The Economic Times, Dec 18)
At the end of a busy calendar year of visits, India and China will round up the year with the third round of strategic dialogue. Foreign secretary Shiv Shankar Menon is expected to hold talks with his counterpart vice-foreign minister Wu Dawei in Beijing later this week. Mr Menon's visit is also a preparatory visit for Prime Minister Manmohan Singh's visit to the neighbour in the middle of January.

India ballistic missile defense capabilities & future threats(India Post, Dec 17)
India carried out a series of anti-ballistic missile tests re-cently starting with an exo-atmospheric anti-ballistic missile (ABM) system test on November 12. This was followed by an endo-atmospheric test of a Prithvi missile defense system on December 1 from Wheeler Island near Balasore in Orrisa. A high-tech instrument was utilized in the test launch which provided precise and accurate data regarding the performance of the interceptor missile.

U.S., China share nuke emergency plans(UPI, Dec 14)
The United States and China have held a meeting on nuclear emergency response cooperation. "U.S. and Chinese experts shared nuclear emergency response capabilities with multiple other countries during a Global Initiative to Combat Nuclear Terrorism Radiation Emergency Response Workshop," the U.S. National Nuclear Security Administration said in a statement Friday.

IBM's employee base in India hits 73,000, reflecting international growth (IHT, December 14)
IBM Corp.'s expansion in developing countries shows no sign of relenting. The technology company revealed Friday that it now has 73,000 employees in India, almost a 40 percent leap from last year. IBM did not provide updated figures for its work force in the U.S., which has held steady around 125,000 people in recent years.

Growt h of notebook PC sales surging in India (Silicon India, December 17)
he Indian notebook personal computer (PC) market has grown by around a whopping 85 percent during the third quarter (July-Sep) of 2007, says a report. The report was released by the U.S. based IDC's Indian subsidiary IDC India, a global research and market intelligence firm for IT, telecom and consumer technology. The No.1 slot in terms of units sold was grabbed by Hewlett Packard (HP), commanding a market share of 21.6 percent, followed by HCL (12.3 percent) and Lenovo (10.3 percent).

US, China ink deal to boost bio-fuel use (Business Standard, Dec 13)
The world's two largest energy consumers, China and the United States, have signed a bio-fuel agreement to reduce their dependency on fossil fuels and enhance their energy security. The US Departments of Energy (DOE) and Agriculture (USDA) and China's National Development Reform Commission (NDRC) signed a memorandum of understanding (MoU) to develop bio-fuels to meet their rising energy demands, USDA said on its website.

China to lead India in 2008 energy race: analysts(AFP, Dec 18)
The race for energy by rising powers China and India will intensify in 2008 as they scour the world for fuel to feed their booming economies, and Beijing has taken a big early lead, analysts say. Everywhere, China -- with its deep pockets and energetic diplomacy -- has been beating lumbering, bureaucratic India to the punch in the quest to lock in long-term supplies in Asia, Africa and Latin America, analysts say.

Energy leaders discuss Russia-India-China pipeline(Monsters and Critics, Dec 15)
A pipeline stretching from Russia, moving through the Central Asia to South Asia and finally to China - this concept may be only a pipedream but a meeting of business leaders from India, Russia and China here Saturday brainstormed on the concept. A group of business leaders from India, China and Russia attended a Trilateral Conference on 'Strengthening Economic Cooperation' organised by the Federation of Indian Chambers of Commerce and Industry (Ficci) and the Confederation of Indian Industry (CII), two leading business lobbies.

India plans major incentives for clean technology(Earth Times, Dec 18)
India's forthcoming action plan to address climate change will provide significant incentives for clean technologies, Minister for Science and Technology and Earth Sciences Kapil Sibal said here Tuesday. Sibal, who headed the Indian government delegation at the Dec 3-14 UN conference on climate change in Bali, reiterated on his return that India was not going to take on any legal caps on emissions of greenhouse gases (GHG) that are warming the atmosphere and leading to climate change.

China offers its help in Small Hydro Projects to India(The Times of India, Dec 16)
China, which has taken a giant leap in the eco-friendly small hydro-projects on Sunday offered to help India to increase its power generation in Small Hydro Projects (SHPs) by sharing its expertise in the flied. Ahead of its meeting on Monday with top Indian officials in New Delhi, a Chinese delegation headed by Prof Tong Jian Dong, Director-General of Hang Zhon-based International Network on Small Hydro Power (IN-SHP) visited Uttarakhand to see the technology being used in small hydel projects and talked to stakeholders in this regard.

Analysis
India, China drive explosive global energy demand(Commodity Online, Dec 15)
An old friend of mine once told me, "Every problem you face is simply an opportunity in disguise." That's certainly the case with the world's bottomless, unquenchable demand for energy. At its heart is the explosive economic growth underway in the world's many developing countries. Of course, China and India are responsible for the lion's share: Their combined GDP is projected to rise 7.7% annually over the next 10 years, compared to the anemic 1.5% to 2.5% GDP growth in the U.S.

Who will turn the carbon tide? Look to China (IHT, December 16)
Given the accelerated melting these days in Greenland, it is probably no longer appropriate to use the adjective "glacial" to describe treaty negotiations aimed at curbing dangerous human interference with the climate. The talks in Bali over the last two weeks were just the latest baby step in trying to make that happen. The Bali achievement? Two more years of talks. Meanwhile, concentrations of carbon dioxide, the main climate-heating emission, continue the climb that began 250 years ago, as industrialization surged on a diet of fossil fuels.

Chinese fish farmers face polluted waters (IHT, December 15)
Here in southern China, beneath the looming mountains of Fujian Province, lie dozens of enormous ponds filled with murky brown water and teeming with eels, shrimp and tilapia, much of it destined for Japan and the United States. Fuqing is one of the centers of a booming industry that over two decades has transformed this country into the biggest producer and exporter of seafood in the world, and the fastest-growing supplier to the United States.

U.S., China sign pact on food safety(Los Angeles Times, Dec 12)
In an effort to reassure American consumers about the safety of food and medicine made in China, U.S. and Chinese officials signed agreements Tuesday giving U.S. officials a stronger hand in screening Chinese exports. But consumer groups and lawmakers in Washington pointed out that the two agreements covered only a small number of products. And the success of the new regulatory effort depends on whether Chinese officials can get producers to meet U.S. safety standards and whether thinly stretched U.S. government agencies can ensure that China keeps its promises.

China moves to discourage grain exports(Times Online, Dec 17)
Battling inflation fuelled mainly by rising food prices, China announced yesterday that it would scrap the 13 per cent tax rebate on exports of grains to discourage overseas sales. Food prices, which comprise one third of the consumer basket, rose 18.2 percent in November from a year earlier. Annual consumer price inflation surged last month to an 11- year high of 6.9 per cent, heightening government fears that higher prices could lead to social unrest.

US Senate plan moves toward long-term food aid(Reuters, Dec 17)
A new Senate plan would steer more U.S. food aid funds to development projects that attack the root causes of hunger, a move critics say comes at the expense of critical aid to the world's most vulnerable. Senators approved a host of modest changes on Friday to U.S. food aid programs, the world's largest, as part of a sweeping, $286 billion agriculture law that will set everything from crop subsidies to food stamps for five years.

WTO to probe US farm subsidies(BBC, Dec 18)
The WTO has begun an investigation into US support for soya, wheat, corn, rice and other crops. It comes after the US Senate passed a $286bn farm bill, following a similar bill from the House of Representatives. The US has been accused of unfairly helping its farmers, but the US says its farm programmes meet WTO rules.

Analysis
Elephant In the Room(Wall Street Journal, Dec 14)
At the World Trade Organization's headquarters in Geneva, there's a growing sense that a global trade deal is finally possible. The negotiations are now mostly characterized as serious. Big players, notably including the United States and the European Union, want to move forward. But that still doesn't mean a deal is necessarily probable. This six-year, on-again-off-again process is now being threatened by a country that can least afford the collapse of the Doha Round: India.

Daimler forms joint venture with India's Hero Group to build commercial trucks (IHT, December 14)
Automaker Daimler AG said Friday that it has formed a joint venture with India's Hero Group that will build commercial trucks for the burgeoning market in that country. The agreement, the terms of which were not disclosed, calls for the local production of "light-, medium- and heavy- duty commercial vehicles for the Indian volume market." Exports to other countries will come about at a later stage, the two companies said in a statement.

U.S. Opens Its Arms To Chinese Tourists (Forbes, December 12)
The floodgate has been opened for Chinese tourists to visit the United States. The United States has been largely unmarked by the global footprint of Chinese tourists, thanks to Washington’s reluctance to play along with rules set down by China’s tourism regulatory authority. That is due to change.

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