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B&E This Fortnight
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Issue Date - 08/12/2011
China to help asean

China will help Asean countries to launch infrastructure projects, which aim better connectivity and communication in the region. Leaders of China and Indonesia agreed on the proposal during a closed door Asean-China summit held in Bali recently. The Chinese prime minister Wen Jia Bao said that China wants to establish Asean-China committee for connectivity for closer collaboration between the two entities and is looking to set aside $10 billion in credits and $4 billion in loans for the same. China also provided a $15 billion credit to Asean in 2009, which helped over 50 infrastrusture-related projects. The China-Asean centre, focused on enhancement of trade and investment, was also inagurated to mark two decades of formal relationship between the two sides, during this Bali visit of the Chinese premier. The two sides hope to see bilateral trade reach $500 billion by 2015, up from $350 billion currently. The summit also focused on collaboration in the fields of science & technology, sustainable development, maritime co-operation and co-operation in social areas and areas important to people’s livelihood. The Asean leaders adopted a master plan for Asean connectivity last year, which includes extensive plans to improve roads, railways and maritime and port infrastructure in preparation for an Asean community by 2015.

Not many takers for anti-piracy law

The Stop Online Piracy Act (SOPA), which was introduced in the US House of Representatives in late October in a desperate attempt to stop theft of copyrights and intellectual property, has not gone down well with big technology companies like Google and Facebook. The companies are of the view that the provisions of the law are too strict and might have unforeseen consequences. Google’s executive chairman Eric Schmidt has gone to the extent to call this a “draconian bill”. The Act gives the copyright holder the right to register a complaint with an enforcement agency, if they find their content displayed without permission on some website and can get the website shut. Google, AOL, eBay, Mozilla, Facebook, LinkedIn, Twitter, Zynga, etc, have lodged a formal complaint against it in the form of a letter sent to key Senate members.Currently, the US follows the Digital Millennium Copyright Act, which asks companies to “work in good faith” to drop content, which they find are in violation of intellectual property and copyrights. SOPA, if it becomes a law, will target websites like Torrent, which offer tonnes of pirated content free. The bill has received major support from the Motion Pictures Association of America, Netflix, Macmillan Publishers, Recording Industry Asociation of America and a lot of trademark dependent companies like Nike, L’Oreal, et al.

Boeing lands big jumbo order

Amidst uncertain times for the global aviation industry, Boeing has set a new record by receiving a $22 billion order from Indonesian operator Lion Air. The deal, which got signed in the presence of US President Barack Obama during his recent visit to the East Asia Summit in Bali, includes 29 737-900 and 201 new 737 max aircraft along with an option for 150 additional future aircraft for Indonesia’s largest carrier. The deal is the biggest gain for the American President’s South Asia visit. Boeing did not confirm whether the new 737 max will be produced in the US or somewhere else. The deal is the biggest ever in the history of Boeing, both in terms of volume as well as the total number of airplanes to be sold to any single customer at one time. Boeing has recently received an order of $18 billion from Emirates for 777 jets as well. The coming months will show whether these fat deals will make any positive impact on an already bleeding US jobs market.


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