Dotcom Death Toll Doubled

The Dotcom death toll more than doubled in 2001, with at least 537 Internet companies worldwide either going out of business or seeking refuge in bankruptcy court, according to statistic released by Webmergers.com, a San Francisco-based deal maker that has tracked the rise and fall of the Internet economy.

But the worst may be over.

Only 21 Internet companies have failed in each of the past two months, the lowest mortality rate since 10 dotcoms failed in August 2000. The recent drop-off has prompted some observers to conclude that most dotcoms have already been wiped out, but Webmergers said that perception is wrong.

The site estimates that 7,000 to 10,000 Internet companies remain in operation. That means the financial devastation of the past two years has claimed no more than 10% of the sector, leaving behind a stronger - and possibly wiser - group of survivors.

China grows 7.3%

During the year 2001, the Chinese economy is estimated to have grown 7.3%, despite slowdown in the world economy, according to official news media of China.

The contributing factor for the healthy growth is expanded domestic economy, the media said.

Chinese economy had grown 8% during 2000.

The other reason for the healthy growth is government’s heavy spending on construction of highways and other infrastructure by public borrowing.

Meanwhile, reports from India say that Indian economy in the quarter ending on September 2001 grew 5.3% as compared to 6.2% in the same quarter last year and 4.4% during the previous quarter.

Rongji’s 15 mins & Infosys

Chinese Premier Zhu Rongji, gave on-the-spot approval to the proposal of Infosys Technologies of India to establish a facility in Shanghai. Infosys officials lauded the quick decision making ability of the Premier, but refused to divulge any details about their Chinese foray.

"While studying the Chinese market and the opportunity available to Infosys we realized the need to open an office in China. We submitted a letter to the Chinese Premier requesting him permission for the same. In 15 minutes time he granted the request and said Infosys is welcome to set up office in China," said Nandan Nilekani, managing director and president of Infosys.

Zhu made the decision during his recent India tour.

AFTA launched

As Europe was becoming a single currency area and South Asia was preparing for the 11th summit of their heads of state and government early January 2002, South East Asia formally launched its own Free Trade Area (FTA).

The 10-nation FTA of South East Asia, called AFTA or ASEAN Free Trade Area, covers Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

China is expected to join AFTA in a few years. Meanwhile, Singapore has signed a separate free trade pact with Japan.

The city state already has such pacts with New Zealand and European grouping that includes Iceland, Liechtenstein, Norway and Switzerland. Singapore is also negotiating free trade deals with USA and Australia.

Vietnam the top exporter of pepper

Vietnam overtook Indonesia to become the world’s largest pepper exporter in 2001, with shipments of 56,000 tons.

However, the earnings from the export was only US$ 90 million, much less than US$ 146 million the country had received in 2000 by exporting 37,000 tons. In 2001, Indonesia exported 45,000 tons of Pepper while Brazil exported 34,000 tons, Malaysia 260,000 tons and India 25,000 tons.