The China Business Alliance Committee of the World Trade Center Atlanta is organizing on January 31, 2008 a Chinese/Lunar New Year networking and reception celebration event, jointly with the Association of Chinese Professionals-Atlanta (ACP), at the World Trade Center Atlanta from 6-9pm EST.

Mr. Craig Lesser, Managing Director International Public Affairs Group of McKenna, Long & Aldridge LLP and former Commissioner of the Georgia Department of Economic Development, will address Georgia's renewed efforts in furthering trade and commerce with China. Ambassador Wenzhong Zhou of the Embassy of the People's Republic of China in Washington D.C. has also been invited to speak.

The cost is $25 per person for members of the World Trade Center and ACP organizations and $35 for non-members. Corporate Sponsorship opportunities available. RSVP is required by January 28th to Lilia Postolachi, 404-813-6672 or lilia@wtcatlanta.com, or Crystal Hall, crystal@wtcatlanta.com.

Brown pledges more trade between Britain and China (IHT, January 18)
Prime Minister Gordon Brown told China on Friday that he wanted Britain to be the top choice for Chinese trade and investment as he sought to take the relationship to a "higher level." Brown, who arrived here on Friday, also said he would discuss human rights and democracy in his talks with Chinese leaders in Beijing before going to Shanghai on Saturday and India on Sunday. "Britain will welcome substantial new investment from China in our country in the years to come," Brown said at a news conference alongside Prime Minister Wen Jiabao. "We want Britain to be the number one destination of choice for Chinese business as it invests in the rest of the world."

Asian stocks tumble as US recession fears grow; India, China lead fall (Forbes, January 21)
Asian shares tumbled Monday with benchmarks in India and China leading the rout, as investors remained unconvinced that President Bush's 145 bln usd economic stimulus package revealed Friday is enough to help the US avert a recession.

90 % domestic economists expect drop in China's exports in 2008 (The People's Daily, January 21)
Nearly 90 percent of Chinese domestic experts and market practitioners believe that the country will see a drop in exports this year in the wake of the United States subprime mortgage crisis. A bi-annual survey of economists' opinions on China's macro-economy was recently conducted by First Finance Daily, one of the country's leading financial newspapers. The survey covered 60 famous economists from the government, research institutes, universities and financial institutions and 23 fund managers on the market.

'Fundamentals of Indian economy strong' (Hindu Business Line, January 21)
The Government has said that the stock market fall of Monday reflected the "continuing uncertainties" in the global economy and not any change in the fundamentals of the Indian economy. Reiterating that the fundamentals of the domestic economy are "quite strong", the Finance Ministry said in a statement this evening that investors should take informed and responsible decisions in the situation and not be led by "market rumours or any "unwarranted apprehensions.

China absorbs 74.7 billion US dollars of foreign capital in 2007 (The People's Daily, January 21)
In 2007, China's opening economy made significant progress by absorbing 74.7 billion US dollars of foreign capital; and has ranked number one among all developing countries for 15 consecutive years. According to an announcement at the National Business Meeting on January 19th, China's total import and export volume rose from 620.8 billion US dollars in 2002 to 2.2 trillion US dollars in 2007; and at an annual increase of 28.5 percent.

India's economy to slow to 8 pct in 2008 - Moody's (Reuters India, January 17)
India's economy should expand 8 percent in 2008, slower than 8.8 percent last year, as tight monetary conditions dampen loan demand and creaky infrastructure hobbles growth, a unit of rating agency Moody's said on Thursday.

China remains Mongolia's largest trade partner in 2007 (The People's Daily, January 21)
China remained Mongolia's largest trading partner for nine years in a row in 2007, with the two-way trade accounted for 51.9 percent of Mongolia's total overseas trade.

China, U.S. conclude fifth strategic dialogue  (Xinhua, Jan 19)
China and the United States concluded their fifth strategic dialogue Friday, after exchanging in-depth views on bilateral and international issues, according to the Chinese Foreign Ministry. The two-day dialogue was co-chaired by Chinese Vice Foreign Minister Dai Bingguo and U.S. Deputy Secretary of State John Negroponte, exchanging views on international situation, lasting and healthy development of China-U.S. relations, and cooperation in international and regional issues.

India, China sign pact for cooperation in rail sector  (The Times of India, Jan 22)
Indian railways is likely to benefit from the experience of its Chinese counterpart in many ways. The Chinese railways has undergone massive transformation over the last one decade in terms of network expansion, speed raising, modernisation and technical upgradation, a journey which railways here too have begun lately. A memorandum of agreement (MoA) was recently signed between the two countries for cooperation in rail sector. A delegation was led by chairman railway board K C Jena who met the Chinese Railway minister Liu Zhijun and other officials.

  GCC set to sign FTA with India, China and EU (Khaleej Times, Jan 21)
The GCC will conclude Free Trade Agreements (FTAs) with China, India and European Union this year which would boost industrial cooperation, trade and business, said Dr Mohammed Khalfan bin Kharbash, UAE's State Minister for Financial and Industrial Affairs. Speaking at the GCC 11th Conference on 'Future of Gulf Petrochemicals: Vision for 2020' being organised by the Gulf Industrialisation Organisation Conference (GIOC), the minister said UAE has made huge progress in industrialisation.

Resolution seeks FTA between US, India (The Economic Times, Jan 21)
Seeking an expansion in bilateral trade between the US and India, two law-makers have introduced a resolution in the US House of Representatives urging that Washington should initiate talks with New Delhi to enter into a free trade agreement. Republican David Dreier, who is the Ranking Member on the Rules Committee, and Democrat Joseph Crowley have introduced the resolution observing that the move would help US service industry to expand and create large employment opportunities.


China and the US remain focused (Asia Times, Jan 23)
The fifth round of Sino-US senior dialogue was held in Guiyang, capital city of the remote southwestern Chinese province of Guizhou, on January 17-18. Led by US Deputy Secretary of State John Negroponte and his Chinese counterpart, Executive Vice Foreign Minister Dai Bingguo, the meeting for the first time included defense officials and military officers from both sides. The Taiwan issue, Iran, military transparency, among others, topped the agenda.


Analysis

A future China-India detente (UPI, Jan 22)
In a nutshell, India and China will have to live together in Asia with only two simplified provisions: to drop the unnecessary border row between them and to not step on each other's toes. Without these, there is no future for a strong India-China relationship. Both countries are eyeing the world for trade, raw materials and the export of goods and services. Each will have to carve out its own sphere of influence. Wherever their markets are the same, each will have to strive not to get in the way of the other.

China Telecom establishes outpost in Tokyo (The People's Daily, January 21)
The China Telecom Corp. held a ceremony on Monday to mark the establishment of its subsidiary company in Japan, the China Telecom Japan Operation Ltd. The subsidiary, entirely owned by the China Telecom, will carryout all-around cooperation with Japanese operators to push for further development of electronic communication and Internet service between China and Japan, the company said.

Indian tech workforce is two million strong (Silicon India, January 18)
Reflecting the growth of Indian IT, technology workforce in the country is all set to cross the two million mark. The march from one million to two million has happened in just about three years, reported Business Line. This work force increase indicates the appetite for growth in the sector, which is fuelled by increasing interest in India as a preferred global outsourcing destination.

210 million Internet users in China (The People's Daily, January 21)
The China Internet Network Information Center (CNNIC) released the "21st Report of China Internet Development" on January 17th in Beijing. By December 31, 2007, the total number of Internet users in China reached 210 million (only 5 million less than the United States); ranked second in the world; and the number is expected to become the world's largest in early 2008.

Verizon to provide long-distance telephony in India (Silicon India, January 16)
Telecom services provider Verizon Business has secured licences to provide international and national long-distance services in India, the Singapore branch of the company said on Tuesday. The company said it sees great potential in the Indian fixed-line market despite a decline in users last year.

PM brings hope of scaling China N-wall   (Hindustan Times, Jan 17)
With Prime Minister Manmohan Singh asserting that China would not pose an obstacle in India pursing its ambition to open up civil nuclear cooperation, the last bastion appears to be crumbling. Chinese neutrality, bordering on support, is good enough for India. Beijing does not have to proclaim in advance that it's going to back New Delhi when decision time is still to be reached at the International Atomic Energy Agency and the Nuclear Suppliers Group.

Britain lends support to India-U.S. nuclear deal (Reuters, Jan 21)
Britain said on Monday it supported granting a waiver to India from a 45-nation group which polices exports of nuclear technology, a key step in finalising a nuclear energy deal with the United States. The deal is being vigorously opposed by communist allies of the ruling coalition on the grounds it compromises India's sovereignty. They have threatened to withdraw support and force an early election if the government presses ahead without their consent.

China resorts to biodiesel projects to solve energy shortage  (Xinhua, Jan 16)
Nearly 7,000 hectares of biodiesel forest will take shape in the northern province of Hebei this year, part of a national campaign to fuel the fast growing economy in a green way. In no more than five years, the Pistacia chinensis Bunge, whose seeds have an oil content of up to 40 percent, will yield five tons of fruit and contribute about two tons of high- quality biological diesel oil, according to the provincial forestry administration.

U.S. says world must improve energy efficiency (Reuters, Jan 21)
The world's largest energy consumer the United States on Monday called for a global push for increased energy efficiency to help meet rising demand and alleviate the impact of high prices on economic growth. The U.S. consumes about 21 million barrels per day of oil, around a quarter of the world's supply. Record oil prices have cooled U.S. appetite for gas guzzling cars and, along with increasing environmental concerns, leant weight to calls for more sparing use of energy.

Opinion

Let's Work Together (The Times of India, Jan 21)
On the outskirts of Beijing, a private initiative - a group of 11 eco-friendly residences built by 11 different architects - called the Commune by the Great Wall at Badaling, blends the natural with the man-made. One of the buildings even has a brook running through it. The high-end green accommodation complex serves as a meeting/boarding/lodging place for visitors, at safe distance from the crowds that throng tourist destinations.

Health sector needs overhaul (The Economic Times, January 22)
The National Pharmaceutical Pricing Authority's reported move to close, through pro-rata pricing of brands, one of the exit routes for pharma companies trying in every conceivable way to wriggle out of price control, is an exercise in fatuity. NPPA's zeal is out of place, as the controllability of most of these 74 drugs, that were brought under price control more than a decade ago or even earlier, is anyway questionable. More so, with each passing day.

IIT Chennai steps in to improve science education in schools (The Hindu, January 21)
In a unique endeavour, IIT Chennai, one of India's foremost engineering college has now tied up with number of schools to enhance high school science education in the country. "The way science is taught in our schools leaves much to be desired. Our children get programmed to answer questions in examinations without being able to relate the concepts to the real world around us. There is too much focus on scoring marks than on understanding, " Dr. T S Natrajan of IIT-Chennai told PTI.

'Education to dictate India's future' (The Economic Times, January 20)
Presenting what would seem like an olive branch, National Knowledge Commission chairman Sam Pitroda sought to assure human resource development minister Arjun Singh on the importance of the HRD ministry's role in the education sector. "The ministry will have an important role in the future. Governments have a central role in providing education." Relations between the National Knowledge Commission (NKC) and the ministry have been contentious especially when it comes to higher education.

Ethanol helps to boost U.S. farmers' bottom line (Reuters, Jan 16)
U.S. farmers overwhelmingly said they have benefited from the demand for corn to produce ethanol, with 71 percent of those surveyed saying the renewable fuel has helped boost their bottom line, according to a Reuters poll released on Wednesday. The demand for corn to meet growing consumption by the food and biofuels industries has pushed the price of the grain from about $2 to $3 a bushel, where it was for several years, to an 11-year high of about $5.00 a bushel.

US asks India to relax pest control rules on pulses (The Hindu, Jan 20)
The US has asked India to relax pest control guidelines for import of pulses so that American suppliers can export the commodity to the South Asian nation. "Unless the fumigation (pest control method) requirement is removed or the waiver extended, pulses exports from North America to India will be in jeopardy, which could further exacerbate the Indian pulse supply situation leading to a further significant rise in domestic pulse prices," the US Department of Agriculture said in its latest report.

China Announces Controls on Food Prices to Battle Inflation (Voice of America, Jan 20)
China has introduced price controls to slow a rapid rise in politically sensitive food prices. Claudia Blume at VOA's Asia News Center in Hong Kong reports on Beijing's latest attempt to battle the country's surging inflation. Price controls were imposed on a range of essential goods, such as flour, meat products, milk, cooking oil and liquefied petroleum gas.

Israel eyeing horticulture, irrigation sector in India (Commodity Online, Jan 22)
In order to boost further bilateral ties with India, Israel is chalking out schemes to invest in India. In an official interaction with Federation of Indian Chambers of Commerce & Industry (FICCI) officials, Israel's Agriculture Minister Shalom Simhon said, Israel is keen to invest in horticulture and irrigation sectors as part of a bilateral agreement that was signed two years ago. He expressed its interest in cooperating with India in water resources, especially recycling water for agricultural purpose and irrigation.

Opinion

Ethanol helps to boost U.S. farmers' bottom line (Reuters, Jan 16)
U.S. farmers overwhelmingly said they have benefited from the demand for corn to produce ethanol, with 71 percent of those surveyed saying the renewable fuel has helped boost their bottom line, according to a Reuters poll released on Wednesday. The demand for corn to meet growing consumption by the food and biofuels industries has pushed the price of the grain from about $2 to $3 a bushel, where it was for several years, to an 11-year high of about $5.00 a bushel.

US asks India to relax pest control rules on pulses (The Hindu, Jan 20)
The US has asked India to relax pest control guidelines for import of pulses so that American suppliers can export the commodity to the South Asian nation. "Unless the fumigation (pest control method) requirement is removed or the waiver extended, pulses exports from North America to India will be in jeopardy, which could further exacerbate the Indian pulse supply situation leading to a further significant rise in domestic pulse prices," the US Department of Agriculture said in its latest report.

China Announces Controls on Food Prices to Battle Inflation (Voice of America, Jan 20)
China has introduced price controls to slow a rapid rise in politically sensitive food prices. Claudia Blume at VOA's Asia News Center in Hong Kong reports on Beijing's latest attempt to battle the country's surging inflation. Price controls were imposed on a range of essential goods, such as flour, meat products, milk, cooking oil and liquefied petroleum gas.

Israel eyeing horticulture, irrigation sector in India (Commodity Online, Jan 22)
In order to boost further bilateral ties with India, Israel is chalking out schemes to invest in India. In an official interaction with Federation of Indian Chambers of Commerce & Industry (FICCI) officials, Israel's Agriculture Minister Shalom Simhon said, Israel is keen to invest in horticulture and irrigation sectors as part of a bilateral agreement that was signed two years ago. He expressed its interest in cooperating with India in water resources, especially recycling water for agricultural purpose and irrigation.

China National Aviation proposes an alliance with China Eastern (IHT, January 20)
The parent group of flag carrier Air China has formally proposed a wide-ranging alliance with its rival China Eastern Airlines, but said that it would not make details of the proposal public until Tuesday. China National Aviation said in a brief statement Saturday that it had delivered the proposal to China Eastern's board, but would not immediately reveal details because it wanted to coordinate public statements with the other company.

China, India Agree On More Open Skies, Trade (Forbes, January 14)
On Indian Prime Minister Manmohan Singh's first visit to China since he came to power, both countries agreed to open their skies further, hold more military exercises and expand trade. But thorny issues like a decades-old border dispute could take more than a premier's visit to solve.

China auto sales likely to hit 10 mln in 2008 (The People's Daily, January 21)
Chinese auto sales were likely to hit or surpass 10 million units in 2008, Cai Weici, vice chairman of China Machinery Industry Federation (CMIF) forecasted on Monday. Official figures revealed that the country turned out 8.88 million automobiles in 2007, 22.02 percent more than the previous year, surpassing the eight million prediction made at the beginning of 2007.

China's railway network under pressure from growing economy (The People's Daily, January 21)
China's railways carried 1.36 billion passengers in 2007, up 8 percent over the previous year's figure, but the country's booming economy means demand will be even greater this year. More than 3 billion tonnes of cargo were transported by rail, an increase of 8.6 percent, Railway Minister Liu Zhijun said at a national work conference earlier this month.

China's budget hotel industry is booming as tourism grows (IHT, January 16)
Michael Bosch, an engineer from Germany, is not fazed by the lack of a gym and other creature comforts at his budget hotel in a converted Shanghai office building. He has stayed at such hotels on nearly a dozen trips to Chinese cities. "All I need is a clean, warm place to sleep. I don't care so much about service," the 32-year-old said as he waited for 10 minutes for a distracted receptionist to attend to him at a Motel168 on the edge of Shanghai's financial district.

China's tourism revenue surpasses $137 bln in 2007 (China View, January 18)
China's tourism revenue reached 1.09 trillion yuan (137.92 billion U.S. dollars) in 2007, the first time it broke the one trillion yuan mark, according to China National Tourism Administration (CNTA) statistics.

Publisher: Roxanne Russell
Editor of Academic Resources: Dr. S.V. Char
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