We are on China's heels, being just 6-7 years behind!
Lest not forget, Indian accounting system have worldwide recognition and habit of understating the numbers. Chinese numbers are considred exaggerated and butt of joke.
Troll tactic #2389238: When your argument falls flat on its face a second time, change topic.ashi wrote:Let's compare figures in the same year. In 2005, China's GDP is about 3x of India's. In 2010, China's GDP is about 4x of India's. So the gap is widening. How can you sayWe are on China's heels, being just 6-7 years behind!
Naughty naughty. You have been watching Nat Geo India like me.Manny wrote:I was watching a program on the 3 Gorges dam in China.
The difference between PRC and India is summed up hereSuraj wrote:The fundamental distinction between PRC and India - from my point of view - lies in the efficiency and credibility of the state in generating outcomes,
On doing business in Africa, the official said that India has a smaller presence when compared to China. The nature of the business being done by us is different when compared to China. For us Africa is an opportunity and there is enough space for us to do what we are good at over here. Although the Chinese have a larger presence here, we cannot say that they have outdone us. It is in our interest to be in Africa. We need to understand the African sensitivities and we as Indians need to be sensitive. We have done well here in the past two years and the time has now come to accelerate.
However we in the Government will not be in a position to tell the businessmen what is to be done. It is their decision and what we could do is provide advisories and also give able assistance. We cannot take a call as what we want the businessmen to be doing.
Central China's worst drought in more than 50 years is drying reservoirs, stalling rice planting, and threatens crippling power shortages as hydroelectric output slows, state media said Wednesday.
Rainfall levels from January to April in the drainage basin of the Yangtze, China's longest and most economically important river, have been 40 per cent lower than average levels of the past 50 years, the China Daily said.
The national flood and drought control authority has ordered the Three Gorges Dam, the world's largest hydroelectric project, to increase its discharge of water by 10 to 20 per cent for the next two weeks.
The measure is aimed at sending badly needed water to the Yangtze's middle and lower reaches for drinking and irrigation.
Water-marks in more than 1,300 reservoirs in Hubei province, where the dam is located, have dropped below allowable discharge levels for irrigation, the newspaper quoted Yuan Junguang, Hubei's reservoir management director, as saying.
Rainfall in some areas is as much as 80-per-cent lower than usual while the provinces of Anhui, Jiangsu, Hubei, Hunan, Jiangxi and Zhejiang along with Shanghai municipality are mired in their worst droughts since 1954.
"Without adequate water, we lost the spring planting season for rice," Hubei farmer Zhou Xingtao was quoted as saying.
It said many other farmers in Hubei have lost their existing crops or given up on planting summer rice, fearing the emergency water supplies will be inadequate to sustain their fields, with more hot and dry weather forecast.
The agricultural impact is likely to further alarm officials already trying to tame high food prices.
China -and the Yangtze river region in particular -is prone to the alternating threats of crippling drought followed by devastating flooding.
Nearly every year, some part of China suffers its worst drought in decades, and meteorological officials have said previously the extreme weather may be due to climate change.
The State Grid, China's stateowned power distributor, reportedly said this week that 10 of its provincial-level power grids were suffering severe shortages due to the drought's impact on hydroelectric generation, including Shanghai and the heavily populated Chongqing region.
China could face a summer electricity shortage of 30 gigawatts -the most severe power shortfall since 2004, the company said.
The drought also is posing a threat to the Yangtze basin's highly- endangered population of freshwater dolphins, as water levels have plunged as much as three metres in key dolphin areas.
BTW has anyone heard of "Jiangzi Province"?? Paki IT finally catching up in land of tarrel friends.Explosions went off at or near three government buildings today in the Chinese city of Fuzhou, Jiangzi province, according to a government website. At least five people were injured and a disgruntled farmer was suspected of triggering the blasts, the official Xinhua News agency said.
The first explosion occurred at a parking lot at an office responsible for prosecutions and investigations, according to a report on a website run by the local propaganda office. Another took place inside an administration building and the third near a food and drug administration office. The blasts took place between 9:18 a.m. and 9:45 a.m., the report said.
That would be Fuzhou, Jiangxi Provice. See http://en.wikipedia.org/wiki/Fuzhou,_JiangxiNarad wrote:BTW has anyone heard of "Jiangzi Province"?? Paki IT finally catching up in land of tarrel friends.Explosions went off at or near three government buildings today in the Chinese city of Fuzhou, Jiangzi province, according to a government website. At least five people were injured and a disgruntled farmer was suspected of triggering the blasts, the official Xinhua News agency said.
The first explosion occurred at a parking lot at an office responsible for prosecutions and investigations, according to a report on a website run by the local propaganda office. Another took place inside an administration building and the third near a food and drug administration office. The blasts took place between 9:18 a.m. and 9:45 a.m., the report said.
The latest clash involving Chinese patrol boats occurred 120km (80 miles) off the south-central coast of Vietnam and some 600km south of China's Hainan island.
Both Vietnam and China claim the seas, which are also thought to contain oil and gas deposits.
WELLINGTON, New Zealand – A Chinese official said Monday that New Zealand should consider special compensation to parents of Chinese students killed in an earthquake last month because their loss was magnified under the country's one-child policy.
Seven students from China have been identified among the 166 confirmed deaths in the quake that devastated Christchurch city on Feb. 22, and as many as 20 others are still missing.
Chinese Embassy official Cheng Lei said Monday that Chinese quake victims had lost not just their only child, but also a future breadwinner.
He said New Zealand should consider providing additional financial assistance to those families.
"You can expect how lonely, how desperate they are ... not only from losing loved ones, but losing almost entirely the major source of economic assistance after retirement," Cheng told Radio New Zealand.
Such compensation would be consolation for the families of the victims "but also a demonstration of the importance the New Zealand government attaches to the Chinese international" students, he said.
Prime Minister John Key said New Zealand had the greatest sympathy for the Chinese families and that they were eligible for compensation under an existing government accident insurance fund.
"The government's made it clear it will help in terms of repatriation of bodies and helping families so, outside of that, at this stage we don't have any intention to make any other changes," Key told reporters.
Key also confirmed on Monday that a planned government inquiry into the disaster would be a royal commission, a sub-judicial format that is the highest-level investigation New Zealand's parliamentary and justice system allows.
While the inquiry will be broad-ranging, Key said it would focus on the collapse of the Canterbury Television and Pyne Gould Guinness Corp. buildings in downtown Christchurch where many people died.
"We understand the need to provide answers about why such loss of life occurred in these buildings. The government is determined to get those," Key told a news conference.
The inquiry would thoroughly examine building codes and construction methods, and whether they were followed.
The inquiry will make a preliminary report within six months and deliver its final report within a year.
The China doubters are back in force. They seem to come in waves – every few years, or so. Yet, year in and year out, China has defied the naysayers and stayed the course, perpetuating the most spectacular development miracle of modern times. That seems likely to continue.
Today’s feverish hand-wringing reflects a confluence of worries – especially concerns about inflation, excess investment, soaring wages, and bad bank loans. Prominent academics warn that China could fall victim to the dreaded “middle-income trap,” which has derailed many a developing nation.
There is a kernel of truth to many of the concerns cited above, especially with respect to the current inflation problem. But they stem largely from misplaced generalizations. Here are ten reasons why it doesn’t pay to diagnose the Chinese economy by drawing inferences from the experiences of others:
Strategy. Since 1953, China has framed its macro objectives in the context of five-year plans, with clearly defined targets and policy initiatives designed to hit those targets. The recently enacted 12th Five-Year Plan could well be a strategic turning point – ushering in a shift from the highly successful producer model of the past 30 years to a flourishing consumer society.
Commitment. Seared by memories of turmoil, reinforced by the Cultural Revolution of the 1970’s, China’s leadership places the highest priority on stability. Such a commitment served China extremely well in avoiding collateral damage from the crisis of 2008-2009. It stands to play an equally important role in driving the fight against inflation, asset bubbles, and deteriorating loan quality.
Wherewithal to deliver. China’s commitment to stability has teeth. More than 30 years of reform have unlocked its economic dynamism. Enterprise and financial-market reforms have been key, and many more reforms are coming. Moreover, China has shown itself to be a good learner from past crises, and shifts course when necessary.
Saving. A domestic saving rate in excess of 50% has served China well. It funded the investment imperatives of economic development and boosted the cushion of foreign-exchange reserves that has shielded China from external shocks. China now stands ready to absorb some of that surplus saving to promote a shift toward internal demand.
Rural-urban migration. Over the past 30 years, the urban share of the Chinese population has risen from 20% to 46%. According to OECD estimates, another 316 million people should move from the countryside to China’s cities over the next 20 years. Such an unprecedented wave of urbanization provides solid support for infrastructure investment and commercial and residential construction activity. Fears of excess investment and “ghost cities” fixate on the supply side, without giving due weight to burgeoning demand.
Low-hanging fruit – Consumption. Private consumption accounts for only about 37% of China’s GDP – the smallest share of any major economy. By focusing on job creation, wage increases, and the social safety net, the 12th Five-Year Plan could spark a major increase in discretionary consumer purchasing power. That could lead to as much as a five-percentage-point increase in China’s consumption share by 2015.
Low-hanging fruit – Services. Services account for just 43% of Chinese GDP – well below global norms. Services are an important piece of China’s pro-consumption strategy – especially large-scale transactions-based industries such as distribution (wholesale and retail), domestic transportation, supply-chain logistics, and hospitality and leisure. Over the next five years, the services share of Chinese GDP could rise above the currently targeted four-percentage-point increase. This is a labor-intensive, resource-efficient, environmentally-friendly growth recipe – precisely what China needs in the next phase of its development.
Foreign direct investment. Modern China has long been a magnet for global multinational corporations seeking both efficiency and a toehold in the world’s most populous market. Such investments provide China with access to modern technologies and management systems – a catalyst to economic development. China’s upcoming pro-consumption rebalancing implies a potential shift in FDI – away from manufacturing toward services – that could propel growth further.
Education. China has taken enormous strides in building human capital. The adult literacy rate is now almost 95%, and secondary school enrollment rates are up to 80%. Shanghai’s 15-year-old students were recently ranked first globally in math and reading as per the standardized PISA metric. Chinese universities now graduate more than 1.5 million engineers and scientists annually. The country is well on its way to a knowledge-based economy.
Innovation. In 2009, about 280,000 domestic patent applications were filed in China, placing it third globally, behind Japan and the United States. China is fourth and rising in terms of international patent applications. At the same time, China is targeting a research-and-development share of GDP of 2.2% by 2015 – double the ratio in 2002. This fits with the 12th Five-Year Plan’s new focus on innovation-based “strategic emerging industries” – energy conservation, new-generation information technology, biotechnology, high-end equipment manufacturing, renewable energy, alternative materials, and autos running on alternative fuels. Currently, these seven industries account for 3% of Chinese GDP; the government is targeting a 15% share by 2020, a significant move up the value chain.
Yale historian Jonathan Spence has long cautioned that the West tends to view China through the same lens as it sees itself. Today’s cottage industry of China doubters is a case in point. Yes, by our standards, China’s imbalances are unstable and unsustainable. Chinese Premier Wen Jiabao has, in fact, gone public with a similar critique.
But that’s why China is so different. It actually takes these concerns seriously. Unlike the West, where the very concept of strategy has become an oxymoron, China has embraced a transitional framework aimed at resolving its sustainability constraints. Moreover, unlike the West, which is trapped in a dysfunctional political quagmire, China has both the commitment and the wherewithal to deliver on that strategy. This is not a time to bet against China.
Stephen S. Roach, a member of the faculty at Yale University, is Non-Executive Chairman of Morgan Stanley Asia and author of The Next Asia.
Xinjiang, Tibet and now Inner Mongolia. Can somebody so a map showing China and its restive regions in a separate color.Arihant wrote:This looks like another crack in the Chinese edifice - anti-government violence in what the Chinese call the "province of Inner Mongolia".
See: http://online.wsj.com/article/SB1000142 ... 63860.html
Here's another video on Chinese ghost cities and malls. All in the pursuit of a souped up GDP growth. It seems that everything in China was and is "Maya".
SAN FRANCISCO: Suspected Chinese hackers tried to steal the passwords of hundreds of Google email account holders, including those of senior U.S. government officials, Chinese activists and journalists, the Internet company said.
The perpetrators appeared to originate from Jinan, the capital of China's eastern Shandong province, Google said. Jinan is home to one of six technical reconnaissance bureaus belonging to the People's Liberation Army and a technical college that U.S. investigators last year linked to a previous attack on Google.
Washington said it was investigating Google's claims while the FBI said it was working with Google following the attacks -- the latest computer-based invasions directed at multinational companies that have raised global alarm about Internet security.
The hackers recently tried to crack and monitor email accounts by stealing passwords, but Google detected and "disrupted" their campaign, the world's largest Web search company said on its official blog.
The revelation comes more than a year after Google disclosed a cyberattack on its systems that it said it traced to China, and could further strain an already tense relationship between the Web giant and Beijing.
Google partially pulled out of China, the world's largest Internet market by users, last year after a tussle with the government over censorship and a serious hacking episode.
"We recently uncovered a campaign to collect user passwords, likely through phishing," Google said, referring to the practice where computer users are tricked into giving up sensitive information.
"The goal of this effort seems to have been to monitor the contents of these users' emails."
It "affected what seem to be the personal Gmail accounts of hundreds of users, including among others, senior U.S. government officials, Chinese political activists, officials in several Asian countries (predominantly South Korea), military personnel and journalists."
Google did not say the Chinese government was behind the attacks or say what might have motivated them.
But cyberattacks originating in China have become common in recent years, said Bruce Schneier, chief security technology officer at telecommunications company BT.
"It's not just the Chinese government. It's independent actors within China who are working with the tacit approval of the government," he said.
The United States has warned that a cyberattack -- presumably if it is devastating enough -- could result in real-world military retaliation, although analysts say it could be difficult to detect its origin with full accuracy.
Lockheed Martin Corp, the U.S. government's top information technology provider, said last week it had thwarted "a significant and tenacious attack" on its information systems network, though the company and government officials have not yet said where they think the attack originated.
"We have no reason to believe that any official U.S. government email accounts were accessed," said White House spokesman Tommy Vietor.
A spokesman at South Korea's presidential office said the Blue House had not been affected, but added they did not use Gmail. South Korea's Ministry of Strategy and Finance said it had warned all staff "not to use, send or receive any official information through private emails such as Gmail." (Reuters)
