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.

Agni-V test leaves China unruffled

(NEWSER) - India's test launch of a missile capable of striking major Chinese cities went smoothly this morning, and Indian officials say the country has now emerged as a major missile power. The nuclear-capable Agni-V missile, with a 3,100-mile range, will be added to India's arsenal after more tests over the next couple of years, providing the country with what one official calls "much-needed dissuasive deterrence against China," the BBC reports. "The nation stands tall today," declared India's defense minister. More»