China, India, UK outline their future

Wednesday, April 06, 2011 | Posted by: Fiona Cullinan
Categories: China , India | Tags: business, India, economy, links, China, UK, GDP, inflation, Budget, Five Year Plan

Post-Budget season, we round up news from the UK 2011 Budget, reaction to India’s recent Budget and look at how China’s Five Year Plans measure up to their aims. Plus, many more of our favourite global business reads from the past month.

UK
UK Budget news : Grant Thornton’s Budget coverage in full.

The unfolding story of Budget 2011 : The UK Budget, as it happened, including social media reaction, Grant Thornton expert comment and the news of Elizabeth Taylor’s death coming through mid-speech.

Budget 2011: Is Britain open for business? (video) : Francesca Lagerberg, Head of Tax for Grant Thornton UK, and Rob Langston, Corporate Tax Director, discuss the implications of the UK Budget.

CHINA
Successes and Failures of China’s Five-Year Plans (infographic) : Last month, China’s PM presented the 12th Five Year Plan for ratification by congress. We’ll be posting a special insight piece shortly on how the new plan affects UK business and the opportunities it offers (subscribe to our RSS feed to ensure you get it). Until then, this interactive graphic gives some interesting insight into China’s three previous Five Year Plans: their aims and how they ultimately measured up.

When China Will Pass the US? (infographic) : When will China’s GDP overtake the US’s? Here are projections based on several different growth rates – and this infographic suggests that 2024 could be the year…

China says it will tackle inflation, boost incomes : A report on how the Chinese government is trying to manage the growing expectations of the prosperous alongside potential unrest on the other side of the rich-poor divide: “The people are the cornerstone for the ruling party. As the old saying goes, ‘The water can float the boat, but can also sink it,’” said a congress delegate.

China Becomes “Billionaire Factory To the World” : More than 200 people joined the billionaires club in the past year but the biggest news was the shift in location with Asia noting 332 billionaires, second only to the US with 413 billionaires.

Asia’s talent market puts locals first : “Employment in Asian firms is booming – but for locals, not Western expats” – according to this Economist report.

INDIA
Views of the India Budget : “The numbers flatter to deceive” – going through the fine print of India’s recent Budget targeting growth despite inflation.

A growth-oriented, forward-looking Budget… : …and one that focuses on infrastructure, tax rationalisation and subsidy reform. It also notes the move to “greatly increase – by $20 billion – the investment limit on foreign institutional investors, FIIs, in corporate bonds”, suggesting this may result in macroeconomic risks.

Freedom means faster growth : New data indicates that Indian states with increasing economic freedom are growing faster than those which face more restrictions.

Time for European lessons : With EU businesses eyeing up growth through expansion into India, there is a growing need for Indian business to understand EU markets better also.

India: the RBI v inflation : The FT notes with interest the Reserve Bank of India’s continuing “assertive campaign” of raising interest rates, despite world turmoil over the earthquake in Japan, unrest in the Middle East and eurozone debt troubles. But despite India’s aggressive monetary policy, it is not sure it will win the inflation battle.

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