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▣ IQInspections.com is now in UK & Middle East
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International Quality Inspections having headquarters in USA expands their business by opening two new & exclusive sales offices in UK & Middle East. IQ Inspections will help you manage all quality related issues with your offshore products and suppliers.
▣ Are your holiday lights a fire hazard?
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All counterfeit products are illegal. But counterfeit electronics are not just illegal, they are dangerous. “These things can kill you,” says Brett Brenner, president of the Electrical Safety Foundation, an industry-funded organization based in Roslyn, Va. "A counterfeit purse or a CD isn't going to hurt you. But a counterfeit electrical product will hurt you.”
▣ 10 most dangerous toys of 2009
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A foam rocket launcher, children's book and Batman and Wolverine action figures are among the most dangerous toys on store shelves, according to a consumer watchdog group. World Against Toys Causing Harm (W.A.T.C.H.) unveiled its annual list of the 10 worst children's toys, just in time for the holiday shopping rush.
▣ Retailers suspend work with Mich. fruit grower
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GRAND RAPIDS, Mich. - Wal-Mart, Kroger and Meijer said Friday they are suspending business with a large southwestern Michigan blueberry grower after investigators found children as young as 6 working in the grower's fields. The retailers said, pending further information, they have stopped buying products from Adkin Blue Ribbon Blueberry Co. near South Haven, about 45 miles southwest of Grand Rapids.
▣ Global wages falling this year, UN says
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Real wages fell in the United States and some other wealthy nations in the second quarter of the year, raising questions about whether workers are sharing in any economic recovery, the U.N. labor agency said Tuesday. The International Labor Organization said inflation-adjusted wage growth fell sharply around the world last year to 1.4 percent, from 4.3 percent in 2007. It said wages are falling in a number of countries so far this year.
▣ Companies tied to Asia are recovering quicker
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Companies that ship coal, chemicals, soft drinks and purses to emerging markets like India and China appear to be snapping out of the recession faster than those that are closely tied to the U.S. and Europe. Earnings reports out Tuesday show that sales in emerging markets are providing a glimmer of hope for both the companies and their investors. In more developed parts of the world, companies still have to rely on cost-cutting to muddle through.
▣ Toyota recalls 3.8 million vehicles
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Toyota Motor Corp. said Tuesday it will recall 3.8 million vehicles in the United States, the company’s largest-ever U.S. recall, to address problems with a removable floor mat that could cause accelerators to get stuck and lead to a crash. The recall will involve popular models such as the Toyota Camry, the top-selling passenger car in America, and the Toyota Prius, the best-selling gas-electric hybrid.
▣ Farhad Mohit: DotSpots and the Wisdom of Crowds
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▣ China's growth raises hopes for global economy
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China's economic growth accelerated in the second quarter amid a stimulus-fueled investment boom, boosting hopes the world's third-largest economy is emerging from the global downturn. The economy expanded by 7.9 percent in the April-June period from a year earlier, up from 6.1 percent growth in gross domestic product the previous quarter, the National Bureau of Statistics reported Thursday.
▣ Proposed law aims to knock out knock-offs
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A proposed new law that would extend copyright protection to clothing has designers in an uproar and threatens to widen a rift in the American fashion industry. For Maria Cornejo, whose Zero + Maria Cornejo label is a favorite of First Lady Michelle Obama, the Design Piracy Prohibition Act (DPPA) would protect her work for three years from knock-offs.
▣ Smoke alarms, tea kettles, basketballs recalled
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The following recalls have been announced:
* About 94,000 Kidde dual sensor smoke alarms, model PI2000, because an electrostatic discharge can damage the unit, causing it not to warn consumers of a fire...
▣ China won't press for new global currency at G8
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China will likely push for a bigger voice for developing countries in international monetary policy at the G8 meeting this week, but a top Chinese diplomat said it won't raise its proposal for a new global currency to replace the dollar. China is not one of the Group of Eight major economies but is attending the meeting in the Italian city of L'Aquila as part of a group of five large developing countries. President Hu Jintao arrived Sunday in Italy.
▣ Chinese make largest overseas acquisition ever
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China's Sinopec will acquire oil explorer Addax Petroleum for $7.2 billion, flexing some of the country's economic clout in what would be the largest overseas takeover ever by a Chinese company. Sinopec, a refiner, would gain access to substantial reserves in West Africa and the Middle East if the deal is approved.
▣ Canada to ban phthalates in toys, vinyl bibs
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The Canadian government proposed on Friday to ban the use of chemicals known as phthalates in soft vinyl toys, dolls, inflatable toys and vinyl bibs that could cause problems if sucked or chewed by a child for extended periods. However, the chemical industry said there was no scientific basis for such a ban.
▣ Trade between China and the U.S
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As China and the U.S. continue to explore ways to do business together, an overarching question remains: How to balance the benefits of economic integration -- which accrue to the people of the U.S. and China, as well as American and Chinese businesses -- with concerns about such issues as environmental and human rights protection.
▣ EPA finds suspect materials in foreign drywall
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The Environmental Protection Agency has found suspect materials in a small sampling of Chinese-made drywall, adding weight to fears that the house-building staple may be causing corrosion in homes and possibly sickening people in several states, a report released Tuesday said.
▣ China's economy shows signs of recovery
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China's economy is showing signs of a nascent recovery, but even officials who want to boost public confidence warn a rebound faces risks from the global crisis and is not yet certain. Imports of oil, iron ore and other raw materials rose in March, reflecting the impact of Beijing's multibillion-dollar stimulus spending on industry. Home and auto sales are up, suggesting consumers might be more willing to spend.
▣ China grapples with new world role
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With their economy still expanding and banks still awash with cash – and the government holding $2 trillion in foreign currency reserves, more than half of which is invested in debt that supports the United States – the Chinese are generally taking pride in their unprecedented new clout in world affairs.
▣ Yamaha recalls off-road vehicle after deaths
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Yamaha Motor Corp., USA recalled about 145,000 off-highway recreational vehicles for repairs Tuesday after three models were involved in 46 deaths. The two-passenger vehicles are designed for drivers over 16 years old with valid drivers licenses, although some reported deaths involved younger children who were passengers or who operated the vehicles against recommendations, according to the Consumer Product Safety Commission, which announced the recall.
▣ Chinese city probes J&J baby bath products
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Chinese health authorities are investigating baby bath products made by Johnson & Johnson in response to a U.S. consumer group's charges that some of the products' chemicals could cause cancer, the U.S. company said on Thursday. Joannan Lu, the Johnson & Johnson spokeswoman in China, confirmed the company had handed in products to the Shanghai quality watchdogs for checks, but added it has no plan to pull its products from the Chinese market.
▣ China rejects Coke's bid to buy juice maker
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China rejected Coca-Cola Co.’s $2.5 billion bid to buy a major Chinese fruit juice maker Wednesday in a closely watched case that stirred nationalist opposition to the sale of a successful homegrown brand to foreigners. Coca-Cola’s purchase of Huiyuan Juice Group Ltd. was rejected on anti-monopoly grounds, the Commerce Ministry said. It would have been the biggest foreign acquisition of a Chinese company to date.
▣ China stimulus package lifts recovery hope
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China announced an expected stimulus package Wednesday that could help limit the length and depth of the recession in the industrialized world. A legislative meeting starts Thursday in China and topping the agenda is what the government will do to lift growth rates, which have fallen in the wake of the global economic downturn. As one of the few major economies still expanding, China is being closely watched amid hopes its demand and trade can help the world weather the most severe global slowdown in decades.
▣ Post-crash Scenarios for Commodities and 'Turbo-coupled' Emerging Markets
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According to Ignatius Chithelen, managing partner of Banyan Tree Capital Management, an investment firm in New York City, emerging markets are not de-coupled but rather "turbo-coupled" to developed markets. In this opinion piece, Chithelen describes what he sees on the horizon for emerging markets and for commodities prices in the wake of the global economic crisis. Among his predictions: China will likely emerge as the big winner from the current worldwide recession, and Mexico's recent hedging of its oil exports will lead to a cap on commodities prices over the short to medium term.
▣ Toy makers not playing around in downturn
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There will be fewer $250 dinosaurs and $180 robotic dogs on offer during the next holiday season as toy makers rein in production and trim prices in response to the weakest holiday season in decades. The selection at the industry's annual trade expo American International Toy Fair, which officially starts Sunday, will include Elmo Tickle Hands from Mattel Inc., for instance. They're vibrating, furry red gloves that will stand in place of yet another iteration of the Tickle Me Elmo doll — and cost less too.
▣ China outpaces the U.S. in Car Sales
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It looks like China may have overtaken the United States as the world's biggest auto market. Official figures are due out this week that will show, for the first time ever, more vehicles were sold in China during January than in the United States.
▣ China poised to be world's largest auto market
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Two years ago, China zoomed past Japan to become the world's No. 2 vehicle market. Now it looks poised to pass up the United States to be the biggest. While car sales in China have slowed lately, they haven't plummeted like those in the U.S., where January sales tumbled 37 percent from a year ago to 656,976 vehicles, a 26-year low.
▣ Restructuring Guangdong's Economy
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For Guangdong province, the export-oriented powerhouse whose rise has underpinned China's dramatic growth, 2008 was a memorable year for all the wrong reasons. Due partly to the global slowdown, export growth plunged from 22.3% in 2007 to a mere 5.6%. Meanwhile, Guangdong authorities say GDP expanded 10.1% in 2008, versus 14.7% in 2007.
▣ Global slump casts pall over Chinese New Year
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Painter Wei Haibin is carefully weighing every purchase as he heads home to Hebei province for China's biggest family holiday — a time when the economy typically enjoys a bounce.
▣ Toymakers say lead law harms workshops
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Worries over lead paint in toys made the holidays a little brighter for handcrafted toy makers last year, but now the government's response to the scare has some workshops fearful that this Christmas might be their last.
▣ China's exports fall for first time in 7 years
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China's exports shrank unexpectedly in November as global demand plunged, raising the threat of heavy job losses that could fuel political unrest, and a sharper downturn in the world's fourth-largest economy.
▣ How risky is business in India?
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Until Nov. 26 the strongest force pushing India forward was a mix of good fundamentals and that intangible something that industry calls "sentiment." Forged in the years of 9 percent growth, this euphoria inspired Indians to economic greatness and lured outside investors eager to be part of the Indian miracle.
▣ Fewer toys with high lead levels, group finds
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After the high-profile recalls of millions of lead-contaminated toys last year, a watchdog group said Wednesday that its tests found fewer toys with high levels of chemicals in them this year. But about a third of the toys tested still contained a worrisome level of chemicals.
▣ FDA detains all dairy-based imports from China
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Believe it or not, the FDA has finally issued an alert that will detain all Chinese products containing milk at the border, not allowing them to enter the country and go to market until they can be tested for traces of the toxic chemical melamine.
▣ A Bigger Clubhouse
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In the days immediately before last week's G20 summit in Washington, the Russian government quietly reached out to the governments of China, India and Brazil to coordinate a meeting on the fringes of the main event. It was one of many recent signals that the international order born in the wake of World War II is giving way to one rooted in the realities of this new century. The G20 summit itself is another such sign of this trend, proof that the leaders of the world's established powers can no longer manage the challenges of the world economy without effective collaboration with an emerging class of potential rivals who have become vital partners.
▣ CHINESE BRACE FOR CRACKS IN 'MIRACLE' ECONOMY
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China is greeting the financial crisis with a sense of alarm.
"The economic crisis has arrived, are you ready?" asked one Chinese blogger recently.
It was one of the many tell-tale signs that the tumult is beginning to touch China’s once booming economy.
▣ Obama likely to boost FDA oversight of imports
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The Food and Drug Administration, bedeviled by a salmonella outbreak and tainted medicine from China, is likely to monitor imports and fresh produce more closely under an Obama administration.
With President Bush no longer a roadblock, health officials also can expect new powers to control tobacco, from cigarettes to the recently introduced smokeless products called snus.
▣ CHINESE BRACE FOR CRACKS IN 'MIRACLE' ECONOMY
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China is greeting the financial crisis with a sense of alarm. "The economic crisis has arrived, are you ready?" asked one Chinese blogger recently. It was one of the many tell-tale signs that the tumult is beginning to touch China’s once booming economy.
▣ China's economic certitude crumbles
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Armed with bags full of cash totaling half a million dollars, accountants began distributing the money so the 900 former employees would have something to get by on. The Chinese officials who made the emergency payments on Oct. 21 called it an "advance," part of a "back-pay insurance fund." But the reality was obvious to everyone: It was a government bailout.
▣ China's animal feed tainted with toxic chemical
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Shoppers walk past the eggs on display for sale together with a notice, left, bearing the words "No Melamine Contain" inside a supermarket in Beijing
▣ China delayed disclosure of tainted eggs
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The revelation was the latest in a growing scandal over food products tainted with the industrial chemical and followed the recent disclosures that Chinese authorities and a leading dairy producer also delayed reporting for months that baby formula had been tainted with melamine. The contamination caused kidney stones in babies and was blamed for killing four infants and sickening 54,000 children. More than 3,600 children remain sick, health officials say.
▣ Premier says China to ensure safe food
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China's premier said Saturday the country will take steps to improve its food safety, blaming the tainted milk products believed to have killed four babies and sickened thousands of children on a failure of regulation.
▣ Top Countries in Global Competitiveness
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Of the record 134 countries surveyed this year, the majority at the top of the list remain European, while the U.S. continues to hold on to the No. 1 spot and Canada squeezes into the top 10. As in previous years, Singapore and Japan are the only Asian countries included at the top of the list, though Hong Kong comes close, at No. 11.
▣ INDIA ASKS WHAT ELECTION MEANS FOR 'WORLD'S BACK OFFICE'
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As Election Day approaches, India is looking nervously at the United States. Pundits here are asking how big an impact the U.S. economic downturn will have on the booming outsourcing business, and how the next U.S. president will react to pressures to protect American jobs.
▣ At Indian call centers, another view of U.S.
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As economy falters, debt collectors hear stories from the land of plenty.
▣ Indonesia As the New India
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This stable democracy with a hot market economy resembles another Asian giant in the 1990s.
▣ Chinese lawyers pressured to drop milk cases
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A pedestrian walks past a billboard advertising White Rabbit candies in Shanghai, China. China's iconic White Rabbit candy is back in production after being pulled out of stores around the world last month in the wake of the country's tainted milk scandal, a state-run newspaper reports.
▣ China Vows Overhaul of 'Chaotic' Milk Industry
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▣ Tainted Cadbury chocolate found in Hong Kong
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Hong Kong said Sunday it found two Cadbury chocolate products contained considerably more of the industrial chemical melamine than the city's legal limit in a growing scandal over tainted food made in China.
▣ Chinese snoop on Skype, but are they alone?
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A Canadian researcher has discovered that a Chinese version of eBay Inc.'s Skype communications software snoops on text chats that contain certain keywords, including "democracy."
▣ Chinese Outbound M&A: The Beginning of a New Wave
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Amid the most severe crisis on Wall Street in more than half a century, the Bank of China announced on September 18 that it will take a 20% stake in La Compagnie Financière Edmond de Rothschild of France, a family-held wealth management and banking business.
▣ Vietnam's inflation hits 27.9 percent in Sept
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Vietnam's inflation rose 27.9 percent in September, easing slightly from the 17-year high hit in August, the government said Monday.
The soaring consumer price index was driven by price increases in food, transportation, housing and construction materials, said the General Statistic Office, which often issues the data ahead of the month's end based on estimates.
▣ Weaker global economy slowing U.S. recovery
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The global slowdown has sent crude prices tumbling from nearly $150 a barrel in late June to about $105 currently. Some analysts believe oil could be headed back down to $80.
▣ Few safeguards found for Mexican produce
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At the end of a dirt road in northern Mexico, the conveyer belts processing hundreds of tons of vegetables a year for U.S. and Mexican markets are open to the elements, protected only by a corrugated metal roof.
The U.S. Food and Drug Administration suspects this packing plant, its warehouse in McAllen, Texas, and a farm in Mexico are among the sources of the United States' largest outbreak of food-borne illness in a decade, which infected at least 1,440 people with a rare form of salmonella.
▣ China's Spending May Thwart Olympic Curse, Buoy Asia
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China's leaders are planning tax cuts and a public-works spending spree to make sure their economy's growth isn't doused along with the Olympic flame.
Ten of 11 Summer Olympics host nations analyzed by Morgan Stanley economist Stephen Jen saw growth and investment slump in the year following the games; the only exception in his study, which stretches back to 1956, was the U.S. in 1996. Government officials in China, whose expansion was already slowing before the Beijing games ended last month, are determined to avoid what Jen calls the "Olympic Curse."
▣ The Real China Threat
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Will its takeover over the U.S. economy really matter?
▣ Mom says child's toy had a mouth like a trucker
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Fisher-Price walkie-talkie picked up drivers’ strip club, drug discussions
▣ China's slowing economy could affect world
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Fuel, raw materials harm growth that had offset U.S., European malaise. The growth of textiles exports, a usually strong suit of the Chinese economy, is slowing.
▣ Why India Offers 'An Extraordinary Opportunity for Spanish Investors' - Jyoti Gupta
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The world’s emerging nations offer numerous investment opportunities for companies that want to go beyond their borders and continue to grow. Nevertheless, not all these nations offer the same legal security and stability, or a familiar work culture that facilitates commercial relationships.
▣ Lawmakers agree to ban toxins in kids' items
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Linda Root, laboratory manager at Specialized Technology Resources, Inc., uses a razor blade to demonstrate a lead-paint removal technique on a toy car at a laboratory in Enfield, Conn. Concerns over lead and other toxins in toys have prompted lawmakers to call for a ban on a class of chemicals used in many children's products.