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Best of the Blogs, Emerging Markets: China Troubled by Lack of Willing Workers


Plus, don't expect too many developments from the Rio+20 summit this week.

Financial Times: beyondbrics
Link: China's labor shortage: getting worse
"Considering the state of the world economy, a labor shortage is the last thing you'd expect Chinese factory owners to have to worry about.

"But finding workers in southern China is worse than last year, according to an annual survey conducted by the Chinese Manufacturers' Association of Hong Kong."

Link: India stuns, keeps rates steady as growth crumbles
"India's central bank defied widespread calls on Monday to revive the flagging economy with cuts in interest rates and cash reserve minimums at banks, putting the onus on a fractious coalition government to pull the country out of crisis.

"The Reserve Bank of India left its policy repo rate at 8% and the cash reserve ratio at 4.75%, saying a rate cut now could 'exacerbate' the country's inflation, the highest among industrialized or BRIC nations."

The Wall Street Journal: China
Link: US and China Headed for Fight Over Iran Oil? Not So Fast.
"The US decision last week to leave China off a list of seven additional countries exempt from looming US sanctions on Iran has led to questions about how the US and China will resolve issue before the end-of-June deadline. The Obama administration has said talks are still ongoing with China.

"Under the new sanctions, foreign financial institutions doing business with Iran's central bank for the purpose of energy purchases stand to be barred from US financial markets. Countries such as India, Japan, and South Korea were all granted exemptions after showing they significantly reduced imports."

Link: Citigroup Pushing Bond ADRs to Boost Local Market: Brazil Credit
"Citigroup Inc. (C) is in talks with Brazilian regulators to create global depositary notes tied to local corporate bonds as the government seeks to boost trading in the domestic market by luring foreign investors.

"Average daily trading volume in Brazil's local corporate bond market was 1.25 billion reais ($609 million) in May, according to the nation's capital markets association. Daily trading volume in the U.S. high-yield corporate debt market was $3.3 billion on June 15, according to Trace."

The New York Times: Latitude
Link: Arrested Development
"Don't expect too many developments on development at the Rio+20 summit this week. Touted as an opportunity for developing countries to show their new strength in the global economy, the meeting is shaping up to be an exercise in putting off important decisions."
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