China-India Friction Rises Amid Downturn

China, India helped draft leaked agreement they railed against

(NEWSER) - The “Danish text”—the leaked climate change agreement that infuriated developing nations in Copenhagen and sparked accusations of bullying by rich countries—was actually drafted by a group that included China, India, and Brazil, among other countries. They had “input into the process and product” of the agreement, which seeks to impose stricter limits on developing nations’ emissions, an insider tells the Los Angeles Times . More»

Latest targets: chickens and tires

(NEWSER) - US-China trade tensions escalated yesterday when Beijing announced it was investigating whether the US dumped auto parts and chicken products onto the Chinese market, the LA Times reports. An expert calls the retaliatory move, which comes days after the White House slapped a 35% import tariff on Chinese tires, "a turning point in US-China relations, likely to represent a trend toward subtle, if not overt, forms of protectionism from both sides." More»

Developing markets faring better in current economic downturn

(NEWSER) - As the US and other developed economies feel the crunch of a housing collapse and credit crisis, emerging economies, especially those fueled by commodities, have yet to feel the pinch, the Washington Post reports. "We are overloaded with money, crazy amounts of money from the energy market," a professor says of oil-rich Russia. More»

Mexico, Brazil, India home to booming companies

(NEWSER) - American companies should sleep with one eye open: These firms may not be familiar right now, but they're poised to "reshape global industries," the Boston Consulting Group says. CNN lists 10 standouts, based on BCG's 2008 Global Challengers report.

1. Johnson Electric (China): Produces small motors designed for cars and home appliances.

So look out India and China

(NEWSER) - Barclays Capital fears impending financial crises in China and India, based on ... skyscrapers. The tall buildings are linked to such crises, and China and India are building a lot of them, the investment bank explains in its annual Skyscraper Index. A "skyscraper building boom" often reflects "a widespread misallocation of capital and an impending economic correction," the company says in its report. More»