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Newsletter for Feb 26, 2008


A weekly sampling of news, analysis and opinion on economic issues of India, China and the U.S. Articles and opinion pieces are from a variety of sources and viewpoints and do not necessarily reflect those of ICA Institute. Access to some articles may require free registration to the site or may not be cited to the original source.

In this issue
  • Education for Innovation: Implications for India, China & America
  • Headlines
  • Energy
  • Information & Communication Technologies
  • Agriculture
  • Education
  • Industrial Resources | Manufacturing
  • Environment | Climate Change
  • Corporate Responsibility
  • Innovation
  • Healthcare | Medicine
  • Logistics | Transportation
  • Newsletter staff

  • Education for Innovation: Implications for India, China & America


    ICA Institute Education Research Director, Dr. Robert L. DeHaan, and Dr. K.M. Venkat Narayan recently edited a collection of articles arising out of the Education for Innovation conference held in 2007 by ICA Institute and Emory University.

    In Education for Innovation: Implications for India, China and America, distinguished thought leaders explore cutting-edge questions such as: Can inventiveness and ingenuity be taught and nurtured in schools and colleges? What are the most effective educational strategies to promote these abilities? How are vibrant economies driven by innovation? What is the relationship between education for innovation and national competitiveness or economic development?

    Focusing on the Worlds' three most populous countries and largest economies, this book provides a forum for international experts to address a range of critically important issues related to higher education and its role in creating innovative societies. A wide diversity of educators, policymakers and corporate representatives who are dependent on innovation as the well-spring of their success will benefit from the perspectives provided by this volume. The contributors' critical analyses will be of value to higher education faculty and administrators; government officials interested in innovation, education policy, and national economic and workforce development; CEOs and other officials from the online education community and high tech corporate industries. Recent focus in all three countries on higher education as a resource for national economic advancement makes the book especially timely.

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    Headlines


    India to host next military exercise with China(AFP, Feb 26)
    India will host the second joint military exercises with China, as the neighbours continue to mend ties after a brief but bitter border war in 1962, a report said. The first-ever military manoeuvres between the world's most populous nations were held in China in December, when about 200 Indian and Chinese troops jointly "took out" a group of supposed terrorists along their border.

    Rice in China for NKorea Nuke Talks(Associated Press, Feb 26)
    Secretary of State Condoleezza Rice said Tuesday she expects China to help prod North Korea into fully declaring its nuclear programs, hoping to breath new life into a stalled disarmament process. Following a meeting with Chinese Foreign Minister Yang Jiechi, Rice said the U.S. still awaited a "complete and full declaration" from the North as promised last year.

    African delegation to visit India for $5.6 bn projects(The Economic Times, Feb 25)
    To discuss and forge collaborations for 102 projects worth $5.6 billion in the areas of agriculture, minerals, infrastructure, transport and education, a 250-member delegation from the African countries will visit India next month."We require to build long-term relations between India and Africa that are beneficial to both sides," Chairman of Confederation of Indian Industry's Africa Committee Syamal Gupta told reporters here on Monday.

    China, Zambia sign $200m contracts(China Daily, Feb 26)
    Visiting Chinese trade delegation in Lusaka, capital of Zambia, on Monday signed with local enterprises a basket of contracts, buying goods worth $200 million. Entrepreneurs from both China and Zambia also hammered out cooperation intentions of US$300 million to further explore business potentials in the Southern African country.

    Opinion
    Why is China Booming?(The Korea Times, Feb 26)
    China is now celebrating the 30th anniversary of the period officially known as ``reform and opening." Labeling time in this way echoes China's imperial history. During moments of political transition ― a military victory, for example ― the emperor might designate a special ``era name" to help celebrate the good news. Or the court might test out a new era name after a political debacle, in an effort to wipe the slate clean.


    Energy


    Turkey offers oil pipe lifeline to India(Asia Times, Feb 27)
    Turkey has offered - during a visit by Foreign Minister Ali Babacan to India this month - to facilitate the supply of oil to India from Central Asia via Israel through a combination of overland pipelines and super tankers.

    IFC backs Industrial Bank on green loans(China Daily, Feb 26)
    The International Financial Corporation (IFC), a member of the World Bank Group, will provide a $100 million risk-sharing facility to the Industrial Bank to support green loans in China. Yesterday's deal is the second phase of the IFC's energy efficiency financing program with the Industrial Bank , which will help the Fujian-based bank extend 1.5 billion yuan ($209.79 million)in green loans to cutfive million tons of carbon dioxide emissions a year. That's the equivalent of closing 10 100-MW coal-fired power plants in China.

    China may hit energy use target for 1st time in 08(Reuters, Feb 25)
    China could meet its own annual targets for energy efficiency for the first time this year, but will still have problems meeting its goals of reducing emissions, according to a state-backed think tank.

    India hopeful on nuclear deal despite adamant left(Reuters, Feb 25)
    India said on Monday it was still hopeful of clinching a nuclear deal with the United States, in what analysts said was an indication the government was making a final effort to convince its communist allies about the pact.

    Opinion
    10 things the nation must do to avert an energy crunch (and protect the planet)(Houston Chronicle, Feb 24)
    THE price of crude oil has topped $100 a barrel and could go higher. Rising demand for oil in India and China, combined with global bottlenecks in production and refining, could cause an energy crunch with the potential to disrupt economies and place public safety at risk.


    Information & Communication Technologies


    Planned consolidation in China telecom industry to create new business opportunities(DIGI Times, Feb 26)
    The telecom industry in China is going to undertake a major consolidation in the near future, with the process likely to create new demand for telecom network equipment, according to market sources familiar with the telecom industry in China.

    China Telecom Overhaul Plan May Come in March(The Wall Street Journal, Feb 22)
    China may unveil long-awaited plans for a restructuring of its massive telecommunications industry as early as next month, state-run radio reported. If the plan proceeds as outlined in the brief report yesterday, it would consolidate China's six big state-run telecom operators into three, with the surviving entities allowed to offer a full-range of services instead of being divided among fixed-line, mobile and other offerings now.

    Opinion
    India shows how ICT can help economy(Australian IT, Feb 19)
    If Australia is serious about taking advantage of technology to drive economic growth, we need to take a serious look at India, which offers a great model of how the ICT sector can be an economic powerhouse. India currently boasts the fastest growing technology market in the world, according to a recent study by Gartner. The research firm predicts that India's ICT industry will swell by 25-30 per cent during 2008, thanks to "unabated growth in the IT services market in the export sector coupled with significant IT services growth in the domestic market".

    Can India Produce a Google?(New America Media, Feb 26)
    With the largest youth population in the world, and a booming middle class, India is being heralded as a potential Superpower, especially when it comes to information technology. But, is India just going to be the "back office" to the world; booking its airline tickets, or will there be an Indian Google? Rafiq Dossani has had a ringside seat in watching India's economic transformation. He was once an editor with Business India Weekly, one of India's best-known business publications. He's now the executive director of South Asia Programs at Stanford University's Shorenstein Asia-Pacific Research Center.


    Agriculture


    India's 2008-09 budget to focus on agriculture(CNN Money, Feb 26)
    India's federal budget for the financial year 2008-09 may include measures to help heavily indebted farmers as the country seeks to sustain economic growth of about 9 pct, agriculture experts and analysts said. Indian agriculture accounts for 25 pct of the gross domestic product (GDP) and about 75 pct of India's population is dependent directly or indirectly on the industry.

    Budget 2008: Agri issues that still stand(CNBC-TV18, Feb 23)
    CNBC-TV18's Vivian Fernandes attempts to find answers regarding the real issues concerning the Indian economy. The annual agriculture growth target of the government is 4%, so as to achieve high GDP growth along with the employment.

    China tightens grip on grain(Asia Times, Feb 21)
    China has rung the alarm bell over potential threats to its grain security, scrapping export rebates and imposing tariffs and quotas on sales of its farm products overseas, after the fourth successive year that increased harvests have failed to meet demand.

    China's Genetically Altered Food Boom(Truth About Trade and Technology,Feb 26)
    In the wake of poisonings in Japan linked to Chinese-made dumplings, last week brought a fresh wave of scrutiny to China's control over its food industry. In 2006 and 2007, European officials discovered an unauthorized variety of genetically modified (GM) rice made in China - illegal in both Europe and China - in processed food exported to European Union nations.

    Opinion
    Food First(The Times of India, Feb 25)
    Food prices have been on the rise in India and the world, but for varying reasons. World food prices are projected to maintain a firm trend over the next 15 years because of at least three reasons: a rise in demand in emerging economies, increased consumption of meat which ramps up demand for food grains; and diversion of crops for production of biofuels.


    Education


    'Massive investment for higher education in 11th Plan'(The Hindu, Feb 25)
    Higher education will receive massive investment in the 11th Five Year Plan, with 30 new Central Universities and 370 new colleges in educationally backward districts being planned during the period, President Pratibha Patil said on Monday.

    Steps taken to overcome lack of quality engineers in IT sector(The Economic Times, Feb 26)
    Government on Tuesday said steps are being taken to overcome the shortage of quality engineers in the IT industry.National Association of Software and Services Companies (NASSCOM) has raised the issue of lack of employability of engineering graduates in IT and IT enabled Services sectors, Minister of State for Human Resources Development D Purandeswari said in a written reply to Lok Sabha.

    China defuses song and dance over Peking Opera(Reuters, Feb 26)
    China has made clear that a pilot programme teaching traditional Peking Opera in schools would not be compulsory after it drew criticism from Internet users who said forced instruction would turn students off. China's Education Ministry said classic and modern Peking Opera pieces added to the music curriculum at 200 schools in 10 provinces for the new semester in March were only "a promotional course" to help students better appreciate Chinese culture.

    China expands basic education to W rural population(Xinhua, Feb 25)
    More than six million people in western China have learned to read and write since the government launched a major literacy campaign in 2003, the Ministry of Education announced on Monday.By the end of last year, 98 percent of the rural population in western China had access to basic education, up from 77 percent in2003, said Jiang Peimin, director of the ministry's basic education department.


    Industrial Resources | Manufacturing


    Chinese industry forecasts price rise for white goods (China View, February 25)
    Higher raw material costs are forcing Chinese white goods manufacturers to raise prices, with an industry analyst predicting a spate of price rises in May. Haier, one of the leading domestic white goods manufacturers, has raised its prices on goods, mainly washing machines and refrigerators, by 5 percent to 10 percent. The price rise was due to rocketing costs for human resources and raw materials such as steel, Haier said.

    Iron ore price rise could force China steel rationalization (China View, February 26)
    China imports almost half of the world's seaborne iron ore, making it the largest iron ore consumer in the world, but it has become a price-taker for this basic input for steel -- perhaps because it waited too long to negotiate with major suppliers. Analysts said that this situation could have been anticipated, because iron ore was in such demand globally, but they added that higher costs might actually help rationalize the Chinese steel industry by pricing some smaller firms with obsolete technology out of business.

    Ban on export of iron ore sought (The Hindu, February 26)
    Hit hard by rising input prices, Punjab based steel producers have sought from Union Finance Minister in the coming budget to completely ban or impose duty on the export of iron ore and abolish import duty on secondary steel in order to bring down the steel prices.

    Ministry: China's construction industry getting greener (China View, February 26)
    China's green construction system, with a market value estimated at 1.5 trillion yuan (208 billion U.S. dollars), is growing through energy-efficient projects, the Ministry of Construction said here on Tuesday. Qiu Baoxing, deputy head of the ministry, said the construction area involved had increased by 2 billion square meters each year, nearly half of world's total.

    India's shipbuilding industry finally gets its time frame right(Livemint, February 25)
    When state-run Cochin Shipyard Ltd delivered the sixth and last of a series of bulk carriers built for Denmark's Clipper Group on 30 November 2007, it achieved a first for the Indian shipbuilding industry. The ship was handed over to the owner 105 days before the scheduled date of delivery. The building of six bulk carriers, each having a capacity to carry 20,000 tonnes of dry bulk cargo, for the Clipper Group signifies India's transition from a shipbuilding country that is notorious for missing delivery deadlines to one that meets globally acceptable standards on delivery time and quality of ships.


    Environment | Climate Change


    India to ensure less carbon emissions: Prez (The Times of India, February 25)
    India is willing to ensure that its green-house gas emissions will not exceed the per capita emissions of developed countries at any time, President Pratibha Patil said on Monday. The government is also planning a 'National Action Plan on Climate Change', she said in her maiden address to the joint sitting of the Budget session of the Parliament.

    China, India speed climate change: Australian report (AFP, February 21)
    The economic rise of China and India means climate change is occurring faster than previously thought, making efforts to fix the problem more urgent, an official Australian report found Thursday. The government-commissioned report called for stronger international commitment to addressing climate change, saying current efforts "still fall far short of getting deep cuts in global emissions underway."


    Corporate Responsibility


    Understanding the Chinese overtime dilemma (EMS Now, February 26)
    With the best corporate social responsibility (CSR) intentions, an OEM tells its Chinese contract manufacturer to limit workers' overtime to the amount prescribed under law. Then many of the workers quit and go to another manufacturer that doesn't follow the law. Electronics manufacturers and others face the dilemma of breaking the law to offer as much overtime as possible to workers, or complying and losing workers to employers who don't play by the rule. Chinese labor law stipulates that workers cannot work more than 36 hours of overtime in a month, but does not enforce the rule, and workers want as much overtime as they can get.

    Incorporate social responsibility as part of fabric of business (The Hindu, February 23)
    What do Fortune magazine's top 10 most admired companies have in common? Big profits? May be, but that's not all. These big name companies, which include Dell, General Electric, Starbucks, Federal Express, Microsoft lend time and resources for corporate social responsibility programmes. But, many in India consider corporate social responsibility nothing more than whitewash, said Hiren Shah, Chairman Indo-American Chamber of Commerce.


    Innovation


    CII hosts meet on innovation,creativity, IPR in Mumbai (MoneyControl, February 25)
    CII in collaboration with the U.S.Chamber of Commerce & U.S. India Business Council (USIBC) & Department of Industrial Policy & Promotion, Govt. of India, will host the 2nd Annual Global Forum on Innovation, Creativity and Intellectual Property in Mumbai, India on 26-27 February 2008 at Hotel Hyatt Regency. The forum is being Organized Further innovation and Intellectual Property Rights enforcement; Develop solutions to the persistent IP challenges throughout the world and Publicize new IP initiatives, including legislative reforms.


    Healthcare | Medicine


    Vice premier: China health insurance to cover more non-working urbanites (China View, February 26)
    China will this year expand its experiments in health insurance for non-working residents in 50 percent of the cities involved, said Vice Premier Wu Yi on Tuesday in a national tele-conference. She urged the pilot cities to accelerate the pace of experimenting, so as to lay a good foundation for the establishment of the Fundamental Medical Insurance System in an all-around manner.

    Failure of public health care system (MeriNews, February 26)
    In India, health checkup means going to a doctor only when you fall ill. If you are not suffering with any serious ailments you should avoid visiting a government hospital, otherwise you will be severely scolded by the doctors and other staff. Another reason why you should not visit a hospital is time. If you are free for the entire day and have no other work you may go to hospital. It means health is not a priority in India.

    China bird flu victim ate sick chickens: officials (Reuters, February 25)
    A woman in the southern Chinese province of Guangdong has died of the H5N1 bird flu virus, which she probably contracted from sick poultry she kept in her backyard, Hong Kong government health officials said on Monday. The 44-year-old migrant worker, who was employed in Haifeng county in the eastern part of Guangdong, tested positive for H5N1 in a test by Guangdong's Centre for Disease Prevention and Control, and the Health Ministry in Beijing has to confirm the result.


    Logistics | Transportation


    Steel industry welcomes Rail Budget (The Hindu, February 26)
    The Indian Steel Industry on Tuesday hailed the Railway budget 2008-09 as a balanced and forward looking one and complimented Railway Minister Lalu Prasad for developing corridors for iron ore and coal to meet the growing needs of steel and power sectors.

    China's railway builder plans $5.4 billion HK-Shanghai IPOs (The Economic Times, February 26)
    China Railway Construction Corp, a major builder in China, plans to raise up to $5.4 billion from its Hong Kong and Shanghai initial public offerings despite recent market volatility, a person familiar with the deal said on Monday. China, aiming to ease bottlenecks caused by its surging economy, earmarked 1.25 trillion yuan for railway infrastructure investment in its five-year plan through 2010, nearly quadruple the levels under the previous five-year plan.

    'Steel transportation to increase 67 pc by 2011-12' (The Hindu, February 26)
    Setting a target of over 10 per cent increase in freight earnings during the next fiscal, Indian Railways on Tuesday said it aims to transport 200 metric tons of steel by 2011-12, a jump of 66.67 per cent from the current level. "The Railways receives 120 MT traffic from the steel industry every year and we have targeted a traffic of 200 MT from the steel industry by 2011-12," Union Railway Minister Lalu Prasad said while presenting the Railway Budget 2008-09 in the Parliament.

    New Bangalore airport exposes India's infrastructure challenge (AFP, February 26)
    In southern India the much-awaited Bangalore international airport is almost ready, but getting there could prove a nightmare for travellers facing more chaos on clogged roads. The 630-million-dollar facility is 95 percent complete, and will open for flights as scheduled on March 30, Bangalore International Airport Ltd. (BIAL) chief executive officer Albert Brunner said.


    Newsletter staff

    Publisher: L. Roxanne Russell
    Editor of Academic Resources: Dr. S.V. Char
    Co-Editor: Abhijit Agrawal
    Co-Editor: RJ Paulsick


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    ICA Institute, founded by Dr. Jagdish Sheth, is a non-profit research institute working to foster research and dissemination of knowledge on the rise of China and India and their impact on global markets, global resources and geopolitics of the world. The ICA Institute's mission is to generate new perspectives on the role of market and resource driven economic development. ICA Institute fosters interaction and dialogue between academic scholars, industry leaders and policy makers on the impact of emerging economies in general and China and India in particular. Specifically, ICA Institute is positioned to be a catalyst between faculty and students in International Business and industry leaders and managers.

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    Chindia Biz Blog

    China India Classroom Conversation Prompt

    Education for Innovation: India, China & America

    Video Presentations: Linking Farmers to Markets

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    China Goes Global: Call for Papers

    Yale Corporate Social Responsibility Symposium



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