Archive for the ‘International’ Category

The Emergence of China and India

Thursday, June 5th, 2008

We try hard to determine the future, but it is difficult to predict because so many variables exist. Who could imagine in 1908 the scientific advances of the 20th century, the two world wars, the rise and fall of communism, and the emergence of a wealthy western economic system after a dark depression in the 1930s?

That said, from the perspective of 2008, it appears that this will be the century of the human genome and the re-emergence of China and India (“Chindia”) as economic giants (In 1500, they accounted for about 49% of the world’s gross domestic product.). They will soon account for 40% of the world’s population and have been exhibiting rapid economic growth this century.

Global capital has and will continue to pour into Chindia. E-Solutions Integrator, the company I joined the day after it was incorporated in 1999, went public (as Cambridge Technology Enterprises) on the National and Bombay Exchanges in India. We originally outsourced software development in India and later had development and support offices there.

Political and social systems have yet to catch up. For example, in China, attorney/client privilege is not recognized except regarding trade secrets. In India, under the Evidence Act of 1972, privileged communications are protected, but in-house counsel are not considered to be attorneys, so as a general rule, communications between lawyers working for a company and officers, directors and employees are not subject to protection.

The China Law Blog focuses on law for those doing business in China. It includes a list of the authors’ favorite China-oriented law blogs, such as IP Dragon, which discusses intellectual property law in China, and the China Business Law Blog.

South Korea will prosper greatly from Chinese economic development. The Korean Law Blog provides updates on Korean law, and the Korean IP Law Blog more narrowly focuses on intellectual property issues.

Indian Corporate Law reviews business law topics that impact India. Law and Other Things is a blog about Indian law, its courts and Constitution.