Ahead of Tuesday’s mid-term elections in the United States, the question of what the outcome might mean for US foreign policy seems to have a consensus answer: no change. An analysis in the GlobalPost website says most political analysts believe there will likely be no significant change in the direction of the Obama administration’s foreign policy. Indeed, some analysts predict that if the Republicans take control of Congress, President Obama, just as President Clinton did, will place greater emphasis on foreign policy. Ms. Anne-Marie Slaughter, the director of policy planning for the US...
A Chinese company, Shanghai Electric Co Ltd, has secured a $10bn contract to supply coal-fired generators to India’s Reliance Power Ltd, in a deal financed by Chinese banks, business press reports said. Shanghai Electric is China’s biggest power-equipment maker by market value, and Reliance Power’s order may be the world’s largest for generators, Bloomberg reported .
Trade between China and India is expected to touch $60 billion this year. It has already crossed over $30 billion, with China having a slightly greater than 60% share of the trade. China has promised to increase imports from India in order to address the trade imbalance beteen the two countries, the Press Trust of India reported . Beijing is calling for Indian companies to invest in China and for the two countries to "develop more convergence of interests and mutual trust".
Noting that the question of what is - now - driving China’s seemingly relentless economic growth is one of significance to international policy makers and business executives alike, a leading business journal has conducted new research. Arguing that conventional wisdom of export-led growth is wrong, the McKinsey Quarterly report says : “We found that exports have been a major driver, but not one as dominant as commonly believed. Indeed, there are clear signs that a shift toward domestically driven economic growth is well under way.” The picture of the Chinese economy that emerges from this...