Well before the arrival of Modi, Indian leaders had talked about promoting manufacturing. The slowdown in China, however, could make a big difference this time. China became an export powerhouse because of its vast pool of low-wage workers, but it’s no longer so cheap to manufacture there. Pinched by double-digit increases in China’s minimum wages, many companies are looking for low-cost alternatives. Southeast Asian countries such as Vietnam and Indonesia are attractive, but they lack the deep supply of workers available in India. “It’s the only country that has the scale to take up where China is leaving off,” says Frederic Neumann, a senior economist with HSBC (HSBC). Vietnam and Indonesia? “Neither one is big enough to take up the slack,” he says, leaving India with a “golden opportunity.Read full article in BloombergBusinessweek
क्या चीन ने अमरीका को पीछे छोड़ दिया है?
पिछले 140 सालों में यह पहली बार हुआ है. अमरीका ने दुनिया की सबसे बड़ी अर्थव्यवस्था का रुतबा खो दिया है. अंतरराष्ट्रीय मुद्रा कोष (आईएमएफ़) के मुताबिक़ अब ये हैसियत चीन के पास है. लेकिन सवाल उठता है कि इस दावे को मजबूती देने वाले आंकड़ों पर किस हद तक भरोसा किया जा सकता है. बीबीसी के आर्थिक मामलों के संपादक रॉबर्ट पेस्टन बता रहे हैं कि आख़िर चीन क्यों हम सबके लिए मायने रखता है.चीन की मौजूदा अर्थव्यवस्था 17.6 ट्रिलियन डॉलर की है जबकि आईएमएफ़ ने अमरीका के लिए 17.4 ट्रिलियन का अनुमान लगाया है.
The Indian Space Research Organisation has launched the first test flight of its newest rocket – the GSLV Mk.III – on Thursday, conducting a suborbital flight that also demonstrated a prototype crew capsule (CARE) for India’s proposed manned missions. Liftoff from the Satish Dhawan Space Centre occurred at 09:30 local time (04:00 UTC).
For Thursday’s mission only the first stage and boosters were live, while the inert second stage was loaded with liquid nitrogen to simulate propellant.
