A load of crap from an idle brain

Seriously, its high time the government of India paid proper heed to push up the manufacturing industry in the country.

Prime Minister Manmohan Singh dropped a bombshell at the meeting of the full planning commission on Tuesday when he disclosed that the US computer hardware giant Dell was looking at shifting out of China, and hinted that the company may be looking at India as its sourcing base. Dell, he quoted the company’s chairman as saying, buys $25 billion from China. China’s loss could mean a huge gain for India, he added.

The news comes on the heels of software giant Google shutting down its search engine in mainland China and redirecting Chinese language search traffic to Hong Kong.

The prime minister, in his closing remarks at the plan panel meet, said: “A very important point has been raised regarding development of the hardware sector of information technology. This morning I met the chairman of Dell Corporation. He informed me that they are buying equipment and parts worth $25 billion from China. They would like to shift to safer environment with climate conducive to enterprise with security of legal system. So I think this is an area where there are immense opportunities. I urge the Planning Commission to apply their mind about development of hardware and parts of computer industry.”

Full article here

Google picture courtesy:  Apple Investor

+++

India on Sunday successfully tested the Agni 3 nuclear missile for the third time, indicating its readiness for induction into the strategic forces. The third successful test, which came after the initial setback in 2006 when the missile plunged into the Bay of Bengal, is part of the pre-induction trial of the missile that gives India for the first time the capability to strike deep into China.

The Agni 3 test, which took place from the Wheeler Island off the Orissa coast, has made the missile ready for induction, the Defence Ministry announced on Sunday. “The launch is part of the pre-induction trial. The Indian Army (the user) has carried out the total launch operations guided by the Defence Reseach and Development Organisation (DRDO) scientists. Now the Missile system will be fully inducted into the Armed Forces,” a statement by the Defence Ministry said.

While the formal induction will take at least two more years and a few more tests, the missile is strategically vital in India’s nuclear deterrence plans that rely on the second strike theory. India’s stated policy has been of no first use, which makes it vital to have long range missiles to strike back in the event of a nuclear attack.

Full article here

Pictures courtesy: Rediff & Mensa-Barbie

+++

Bill Bonner of the Daily Reckoning has for long had a bone to pick with Thomas Friedman of the New York Times. It all first started with legendary short seller James Chanos calling China “Dubai times 1,000 – or worse.” To which Thomas Friedman wrote that James Chanos should be careful about trying to “short a country that has $2 trillion in cash” in this article titled “Is China the next Enron?”

Thomas Friedman & Bill Bonner

In his article, The Long and Short of China, Bonner goes hammer and tongs at Thomas Friedman saying…

Oh happy days are here again. Obama is going to get our money back from the banks. Jeffrey Sachs is telling Haiti how it can get its economy back in order (with other people’s money, naturally). And Thomas Friedman is offering investment advice.

This should be fun. We’re all on the bus…and it’s driven by the blind, the deaf and the very dumb. Oh, sorry, we meant the visually impaired…the hearing impaired…and the mentally deficient.

Friedman is, as we all know, full of advice on just about everything. He advises finance ministers on how to soup-up their economies. He advises the Arab world on how to update its religious institutions. He advises whole nations on how to improve the future before it happens.

And here he is now counseling Mr. James Chanos, noted short seller, on how to make money

Big egos are at play here.  But its not to discount the value of the words being spoken here.  Bill Bonner, Thomas Friedman and James Chanos are all good at what they do.  They have built up a career full of backing their claims with the work they have done.

Last word on whether China is a bubble or not is yet to be spoken.  Meanwhile, Thomas Friedman finds another supporter in Keith Fitz-Gerald of Money Morning.

Above pictures courtesy: Theteemingbrain, Cityfile & Stockopedia

+++

The good news is that scientific research papers being filed from India are on the upswing.  The bad news is that countries like China, Korea etc have left India long behind in this race.  In fact, China has more than doubled its research output since 2004.  Read more on these reports at this Thomson Reuters website.

Often referred to as a “sleeping giant” in scientific literature, India seems to be waking out of its slumber, says a recent global research report on “Research and Collaboration in the new Geography of Science” by Thomson Reuters.

As per the report, Chemistry and Pharmacology are fast becoming the most “published” disciplines in India; USA remains its largest research partner even as South Korea is racing ahead of China to partner with India. And Japan’s University of Tokyo collaborates most frequently with Indian researchers.

If the current trajectory continues, the study estimates, India’s productivity would well be on par with that of most G-8 nations within eight years and could even overtake them between 2015-2020.

In a testament to its strength in information technology, computer science accounted for the highest increase in world publications from India between 1999-2003 and 2004-2008, increasing by more than 100%. When it comes to research, India’s strength lies in Chemistry and emerging sectors like pharmacology, microbiology and traditional agricultural sciences.

Between 1993-2003 and 2004-08:

• In Chemistry, India’s research output increased from 21,206 world publications to 33,504

• From a 2.8 per cent share of the world output in pharmacology and toxicology, India’s share is up to 4.25 per cent

• Output in engineering rose from 2.69 per cent to 3.57 per cent

• Microbiology saw publication output rise from 1.62 per cent to 2.79 per cent

Agricultural engineering, Tropical Medicine, Organic Chemistry and Dairy & Animal Science are areas of research where India is picking up well besides Crystallography and Textiles.

Read the full news here

Above picture source: 30yearchallenge

+++

Looks like Google’s patience has been tested enough. First, in the pursuit of money, Google overlooked its “see no evil, do no evil” policy.  Now after being repeatedly getting hacked by the Chinese government and its army of hackers, Google seems to be realising that it was in bed with the devil by agreeing to the Chinese government’s demands of censoring content.

Its been just a matter of time when Google fell afoul of the Chinese authorities. When it comes to the Chinese, there are no friends or foes.  Just like the Americans, everyone and everything is just a means to the end.  Therefore am not surprised that inspite of Google agreeing to be censored, its servers and data were being hacked by the Chinese government.

Not that it affects the Chinese internet community anymore.  They use Baidu, Sohu etc for their search, email and other services.  Google was just another player in the market.  As for Google, pulling out will mean that it can occupy the moral high ground.  And also save its data and servers from getting hacked.  For most of its businesses came from American companies and they wouldn’t have taken kindly to news that would imply that Google’s services were getting repeatedly hacked.  That would have been bad publicity for Google.

First, this attack was not just on Google. As part of our investigation we have discovered that at least twenty other large companies from a wide range of businesses–including the Internet, finance, technology, media and chemical sectors–have been similarly targeted. We are currently in the process of notifying those companies, and we are also working with the relevant U.S. authorities.

Second, we have evidence to suggest that a primary goal of the attackers was accessing the Gmail accounts of Chinese human rights activists. Based on our investigation to date we believe their attack did not achieve that objective. Only two Gmail accounts appear to have been accessed, and that activity was limited to account information (such as the date the account was created) and subject line, rather than the content of emails themselves.

Third, as part of this investigation but independent of the attack on Google, we have discovered that the accounts of dozens of U.S.-, China- and Europe-based Gmail users who are advocates of human rights in China appear to have been routinely accessed by third parties. These accounts have not been accessed through any security breach at Google, but most likely via phishing scams or malware placed on the users’ computers.

These attacks and the surveillance they have uncovered–combined with the attempts over the past year to further limit free speech on the web–have led us to conclude that we should review the feasibility of our business operations in China. We have decided we are no longer willing to continue censoring our results on Google.cn, and so over the next few weeks we will be discussing with the Chinese government the basis on which we could operate an unfiltered search engine within the law, if at all. We recognize that this may well mean having to shut down Google.cn, and potentially our offices in China.

Read the full article here

Pictures source: Richswebdesign & Atlasshrugs

+++

Time changes, people change, economies change and the powers wielded by countries change.  There was a time when Britain ruled half the world, today its nowhere.  There was a time when the US was the undisputed economic champion, today that aura is on the wane.

Its in these changing times we wonder if a group that consists of countries like Italy, Canada etc wield any power when the world is going throught the worst recession (courtesy the developed countries).  Of course the US, Japan and Germany are also a part of the G-7 group of countries, but do they really have any clout?  The G-7 as usual came out with a statement asking China to re-value it currency and hardly anyone cared a hoot.

After decades in charge, the club of rich, industrialised nations is fast losing sway as a share of global economic power shifts towards big developing countries. That was a lesson of the Group of Seven’s meeting in Istanbul at the weekend, when the absence of China showed the G7 could no longer tackle the world’s economic problems on its own.

Finance ministers and central bank chiefs from the G7 implored China in a diplomatically worded statement to let the Chinese currency rise, as they have done for several years. But China showed no sign of complying, and the G7 spent much of its time to discussing whether it should meet less often, with less pomp and perhaps with fewer public statements.

G7 statements have all too often “interested nobody because there’s no follow-up most of the time”, said Dominique Strauss-Kahn, the head of the International Monetary Fund.

Read the full article here

The G-7 or the group of Industrialized countries comprise

Canada, France, Germany, Italy, Japan, United Kingdom, United States

The G-20 comprises of

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa,  South Korea, Turkey, United Kingdom, United States, European Union

A G-7 official hit the nail on the head when he mentioned

“The moment you have to tell people you are still relevant, it’s because you are not relevant,”

Above picture source: Astrocrush

+++

South Korea and India signed an ambitious free trade agreement Friday that slashes tariffs, encourages investment and promotes exchange of skills in a bid to double fast-growing commerce between two of Asia’s biggest economies over the next decade.

South Korean Trade Minister Kim Jong-hoon and India’s Minister of Commerce and Industry Anand Sharma signed what the two sides formally called a Comprehensive Economic Partnership Agreement, but which in reality is a free trade deal.

Incheon International Airport, Seoul, South Korea

“This is a historic occasion,” Sharma said at a joint press conference with Kim.

Kim said it was South Korea’s first free trade accord with one of the fast-growing BRIC countries — Brazil, Russia, India and China. Sharma said it was India’s first comprehensive trade agreement with a major economy. Bilateral trade between the two countries reached $15.6 billion dollars last year, according to South Korea, and has been steadily growing. In 2002, it amounted to just $2.6 billion.

“We will be able to have access to one-sixth of the global market,” Kim said, adding the agreement “will open a significant opportunity as well as strengthen our relationship with India into the future.”

Sharma said the economic relationship between the two countries “has enormous potential to grow” and could double over the next 10 years.

“That’s what we will be aiming at,” he said. “This is just the beginning.”

The deal calls for abolishing or cutting tariffs for 90 percent of Indian goods in terms of value and 85 percent of South Korean products and increases investment opportunities, Seoul’s Ministry of Strategy and Finance said in a statement. It also allows for greater human resources exchange between the countries, the ministry said, paving the way for Indian computer and software experts as well as English teachers to gain access to the South Korean market.

“India has great competitiveness in terms of its IT professionals and so they will be able to come to Korea to contribute to the growth of the national economy in Korea,” Kim said. “English teachers from India will be able to contribute to the development of education in Korea as well. “

Lotus Temple, New Delhi

Major South Korean corporations such as Samsung Electronics Co., Hyundai Motor Co., LG Electronics Inc. and steelmaker Posco are already active investors in India. Negotiations for the deal began in February 2006.

Though the agreement has been signed, several steps remain on the South Korean side for it to take effect, such as ratification by the National Assembly, according to the ministry. India, however, has completed all necessary procedures for the deal to take effect, the ministry said. The latest deal highlights South Korea’s national strategy of aggressively pursuing free trade agreements.

Seoul signed a free trade deal with the United States in 2007, though it has yet to be ratified by legislatures in both countries amid political sensitivities and suspicions regarding free trade among some lawmakers. Seoul also has a free trade agreement with the Association of Southeast Asian Nations and said last month it has concluded negotiations with the European Union. South Korea’s biggest trading partners include China, the EU, the U.S., ASEAN and Japan.

Above news source: AFP

+++

At a time when we are recovering from the disappointment of the most hyped team in T-20 World Cup, India’s crashing out in the super 8s.  Here’s some news to cheer up.  Saina Nehwal became the first ever Indian to win a Super Series tournament when she won the Indonesian Open badminton title with a victory over Lin Wang of China

Ace woman shuttler Saina Nehwal on Sunday scripted history by becoming the first Indian to win a Super Series tournament after she clinched the Indonesian Open title with a stunning victory over higher ranked Chinese Lin Wang in Jakarta.

Saina clinched her maiden Super Series title beating Wang 12-21 21-18 21-9 in an edge-of-the-seat thriller that lasted 49 minutes. Her triumph on Sunday is the best ever performance by any Indian woman and at par with All England Championship titles won by Prakash Padukone and her current coach Pullela Gopichand.

In the thrilling final, world number eight Saina came from behind to outsmart world number three Wang and avenge her last week’s Singapore Open Super Series loss to the same rival.

Saina took time to get into the groove as she struggled to gauge the gameplan of Wang in the first game. Wang opened a 4-9 lead and rode on her smashes and better net play o pocket the first game as Saina was left to do the catchup act.

But the Indian ace rallied her way back in the second game. Saina levelled the score at 5-5 and then moved together with her Chinese rival till 17-17 before surging ahead to pocket the second game 21-18.

News source here.  Image source here.

+++