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Far East:DENNIS SEID: Capitalism in China: All aboard or get left behind

http://www.djournal.com/pages/story.asp?ID=228910&pub=1&div=News

9/24/2006 1:17:05 PM Daily Journal

I could devote a year's worth of columns about what I experienced in a week in China, but that would probably be a little too much.

My impressions of China are almost impossible to put in a sentence, much less a single word. However this one will suffice for now: "wow."

The number of people alone is staggering. By any measure, 20 million is a lot of people. But Shanghai is just HALF the size of Chongqing, farther west into the Chinese mainland. Can you imagine?

Then take into consideration that everywhere you turn there is construction of some kind. A common joke is that the bird of Shanghai is the crane - but it is not a joke at all. You can't look anywhere without seeing at least one construction crane at work.

Your view into the horizon is filled with buildings, with high-rises painting the polluted sky.

And yes, for all the rapid growth has come a terrible price: pollution. The air stinks. It reeks of automobile fumes, sewage, human waste, sweat and food. Fresh air is found only in the filtered air conditioning of a hotel. You can't drink the water. Your eyes burn, especially if you're wearing contacts.

It took the U.S. nearly a century to become an economic superpower; it has taken China 25 years, going full throttle. By many accounts, its economy will be the largest in the world within a decade, with the U.S. and India behind.

This was an interesting exchange I had with Manson, a Chinese native living in Kunshun, a "small" suburb of 1.3 million west of Shanghai.

"The Communist Party? Nobody cares for that," he said. He laughed about joining the "party." "It's capitalism all the way. Who needs the party?"

While the People's Party remains the dominant political, lawmaking body, economically, it's anything but. Save for the language and the signs in Chinese, Shanghai and other metro areas in China could pass for any Western city.

But Manson doesn't understand the fuss that politicians have made about China.

"Chinese people don't understand why Americans are afraid of us," he said. "Every time something goes wrong, you blame the Chinese. Why is that?"

Because, my friend, you are a convenient scapegoat. Cheap labor has driven millions of jobs to China. Our trade deficit soars. We have to blame somebody, and granted, Chinese economic policy is partially at fault.

But Manson, like so many other younger Chinese, doesn't associate with the Communist Party. They associate with the Consumers Party, something we Americans are quite familiar with.

"People want to live a better life, they want to make money, they want to buy things," Manson said. "Just like in America."

Perhaps the Chinese understand us better than we understand ourselves. But we fail miserably at trying to understand them. Once we do, maybe we can not only close those cultural gaps, but the trade gaps, too.

Dennis Seid is business editor for the Daily Journal. Reach him at 678-1578 or dennis.seid@djournal.com

Appeared originally in the Northeast Mississippi Daily Journal, 9/24/2006 8:00:00 AM, section F , page 1

South Asia:Govt. plans ultra mega power project

The government in India is deciding whether to set up a new power plant in Tamil Nadu. Actions are expected soon. The Power Finance Corporation is quickly adding new plants to meet India's growing demand for electricty. Contracts are expected to be made soon, with more powerplants comming in the future. Contracts are expected to be awarded before mid-2007.

India and China both have a growing demand for power. India especially, faces rising incomes, meaning families will be able to buy more electronic "junk" which all consumes more power. The techs in the call centers are all sitting in front of thirsty computers. As India high-tech industry grows, the power supplied must be able to meet the demand or growth will be slowed. Luckily we can get electricity from many different sources, while gasoline for cars, only has one real source: crude oil. An increase in power is necessary for India's growing economy.

I would agree with the author. India needs more power and needs a good infustructure to support their new hi-tech industries, which will bring them out of poverty.

(cite source)

http://www.hindu.com/thehindu/holnus/401200609130355.htm Chennai (source) from the Hindu (org)

New Delhi, Sept. 13 (UNI): The government is currently considering setting up an ultra-mega power project in Tamil Nadu and the action on this project will be initiated shortly, official sources said.

The setting up of the ultra-mega project is in response to the State government to setting up the project in the state to bridge its growing demands.

Meanwhile, the two ultra-mega power projects, out of the five, of 5,000 MW each are being readied by the end of the year with the Power Finance Corporation (PFC) inducting State representatives to help resolve implementation issues.

PFC has reconstituted the Boards of Sasan and Mundra Ultra Mega Companies who will expedite issues with purchasers including signing of Power Purchase Agreements which has already been finalised through a broad-based consultation involving bidders, purchasers, regulatory commssion and the Central government.

Addressing media after the kick-off of the reconstituted boards, Additional Secretary in the Power Ministry Ajay Shankar and Chairman of these companies Shyam Wadehra said that this is only a beginning of the process of broad-basing shell companies for other ultra mega power projects including Krishnapatnam in Andhra, IB Valley in Orissa and Girye in Maharashtra.

The other three mega projects are also progressing and would be awarded before mid-2007.

Shankar said that the government has received a recquest for establishment of a similar ultra mega project in Tamil Nadu and the request is currently being looked into by the Central Electricity Authority (CEA) for identifying suitable sites.

Action will be initiated on this project shortly, he said.