Business Watch: U.S.-China investments, Bertelsmann bookstores close and China's growing ITO market

• U.S., China make gains on investing [WSJ]
  "The U.S. and China initiated talks about a bilateral investment agreement and finalized a 10-year plan to cooperate on energy and the environment, a relatively successful conclusion to two days of talks that were also marked by simmering economic tensions."
• Foreign companies accused of not meeting China relief pledges [Forbes]
  "A surge of strongly nationalist rhetoric combined with misinformation to cast blame on foreign investors for failing to contribute to the relief efforts after the devastating May earthquake in Sichuan."
• Bertelsmann closes bookstores nationwide [China Daily]
  "Bertelsmann, the German media group, will close all its Chinese bookstores, underscoring the difficulties that booksellers are facing from fierce online competition and changing reading habits."
• India looks to cash in Guangdong experience [China Daily]
  "India is keen to learn from the experience of Guangdong province in developing its own special economic zones (SEZs), Gautam Bambawale, consul-general of India said in Guangzhou recently."
• IT Outsourcing: China, the waking giant [Cambridge Wireless]
  "Until now, India has been the undisputed world leader in IT Outsourcing (ITO). Now the Indians are looking over their shoulders as China bids to overhaul their lead!"

Photo by DavidDennis.