Word: exporters
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...could ultimately prove as critical to Iraq's future as the war: how to reorganize the country's mammoth oil industry after nearly 25 years of Saddam's dictatorship, international sanctions and bloody conflict. Oil revenues, which are potentially worth $70 billion a year--virtually all of Iraq's export earnings--are desperately needed to rebuild the shattered economy and end its overwhelming dependence on Washington. And oil companies from ExxonMobil to China National Petroleum Corp. are elbowing for position...
...trade, and its three biggest economies, the U.S., China and Japan. And while many Australians confuse APEC with ASEAN or even the OECD, no other regional organization matters more to their prosperity. APEC members account for 70% of Australia's trade and 8 of its 10 biggest export markets. And, says Australian Foreign Minister Alexander Downer, "The center of gravity of global affairs is moving more and more to the Asia-Pacific...
...allow China's currency to rise more swiftly in value. That would reduce the price of imported goods; it would also relieve some pressure Beijing is getting from U.S. Congressmen, who accuse China of manipulating its currency for trade advantage. Allowing the renminbi to rise might slow China's export-driven growth a bit, at least in the near term, but that may be a price worth paying. The question for Beijing is: will the country absorb a little pain now - or a lot later...
...Carmakers aren't just targeting India. Tata Motors has plans to export its econobox to Southeast Asia and Africa as well. Ratan Tata, the chairman of Tata Motors' parent company, Tata Group, believes they can eventually sell as many as a million cheap cars a year worldwide. That may be a realistic assessment. Globally, up to 3.7 million of such vehicles could be sold annually within the next few years, mostly in fast-growing markets like Brazil, China, India and Russia, says Abdul Majeed, a partner at PricewaterhouseCoopers in Chennai (formerly Madras). "It's all about affordability and fuel efficiency...
...outside investment when China's economy began to open up in the early 1980s and Hong Kong businessmen crossed the border in search of cheaper production facilities. Product safety standards have long been an issue, but the unprecedented level of international attention is putting pressure on manufacturers. With its export-driven economic growth on the line, the Chinese government has taken aggressive steps to safeguard the reputation of its goods. It has closed unsafe food factories, issued new regulations for product safety and shuttered the exporters whose tainted chemical products and pet food additives were linked to the death...