New Delhi: India will seek greater access to China's market for its medicines and technology services when trade minister Chen Deming visits New Delhi next week, at a time when its overseas shipments have been contracting. India's merchandise exports shrank by 4.8% to $22.4 billion in July for three months in a row because of falling demand in European and US markets. In the first four months of the financial year that started on 1 April, exports contracted 5.06% to $97.6 billion.
Washington: A $295 billion trade deficit withChina resulted in the loss of 2.7 million U.S. jobs in the past decade, with the biggest impact in California’s Silicon Valley, according to a report from the Economic Policy Institute. China’s failure to let its currency appreciate while also repressing labor rights and keeping wages down has led to more than 2.1 million lost manufacturing jobs, according to the report released today in Washington. That total includes more than a million jobs in the computer and electronics parts industry. Industries including apparel, textiles and fabricated metal-products lost about 600,000 jobs, according to the report.
Beijing: Sergio Amaral has had many high-powered jobs, including being Brazil's trade minister, the country's ambassador to France and Britain, its chief debt negotiator, chairman of the National Bank of Development and alternate governor to the International Monetary Fund and the World Bank. His public service days are over, but he is by no means relaxing, as he remains head counselor and board member of many institutions and corporations. Yet one of the jobs he devotes much time to is seldom mentioned in his biography.
This paper [written by Justin Yifu Lin and Volker Treichel] discusses the causes of the middle-income trap in Latin America and the Caribbean, identifies the challenges and opportunities for Latin America that come from China's rise, and draws lessons from New Structural Economics and the Growth Identification and Facilitation Framework to help Latin America escape the middle-income trap. Countries in Latin America and the Caribbean are caught in a middle-income trap due to their inability to structurally upgrade from low value-added to high value-added products. Governments in Latin America and the Caribbean should intervene in industries in which they have a comparative advantage, calibrating supporting policies in close collaboration with the private sector through public-private sector alliances.
Beijing/Jakarta/Brussels: The South China Sea dispute between China and some of its South East Asian neighbours – Vietnam, the Philippines, Malaysia and Brunei – has reached an impasse. Increasingly assertive positions among claimants have pushed regional tensions to new heights. Driven by potential hydrocarbon reserves and declining fish stocks, Vietnam and the Philippines in particular are taking a more confrontational posture with China. All claimants are expanding their military and law enforcement capabilities, while growing nationalism at home is empowering hardliners pushing for a tougher stance on territorial claims.
Beijing: Chinese companies still have relatively low profitability and lack global status despite a record presence in the latest Fortune 500 list, McKinsey & Company said on Thursday. As economic structural reform advances and cost advantages fade away, investment-driven growth must give way to higher productivity, said the US-based consultancy firm. The average profit margin of China's 42 central State-owned enterprises on Fortune Magazine's latest annual ranking of the world's 500 largest companies by revenue was only 2.2 percent, compared with an average of 4.8 percent for non-financial companies outside the Chinese mainland.
Johannesburg: Chinese contractors topped International Construction’s 2012 ranking of the world’s 200-largest construction companies for the second year running and once again took the largest share of total revenue. Contractors from China took 23.2%, or $344-billion, of the $1.148-trillion revenue for the top 200 contractors, followed by Japanese contractors at 14.2%, or $211-billion, and US contractors at 12.1%, or $179-billion of total revenue.
1. We, the Ministers of Foreign Affairs and Ministers in charge of economic cooperation of the People's Republic of China and 50 African countries and the Chairperson of the African Union (AU) Commission, met in Beijing from 19 to 20 July 2012 for the Fifth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC).
Beijing: China on Friday dismissed accusations that it was responsible for the lack of a joint statement after a meeting between China and the Association of Southeast Asian Nations. "China believes that at the meeting series of the ASEAN Regional Forum, parties involved exchanged ideas on East Asian regional cooperation and major regional and international issues," Foreign Ministry spokesman Liu Weimin said at a regular news briefing.