Kolkata, India — Taking advantage of the Paris-based Organization for Economic Cooperation and Development’s sanction threats against tax havens, India is taking a hard look at the country’s plethora of Double Taxation Avoidance Agreements. But laying a hand on black money stashed abroad may be easier said than done.

Seoul, South Korea — North Korea's economy expanded for the first time in three years in 2008. But a Bank of Korea report shows that the North's economy is likely to suffer contraction again this year, as the North has put more resources into nuclear and missile tests, triggering wide-ranging international economic sanctions.

Washington, DC, United States — This week, the Obama administration filed a complaint with the World Trade Organization against Chinese export practices that disadvantage U.S. manufacturers. This is welcome news, because more balanced trade with China is essential for the United States to achieve a sustainable economic recovery.

Kolkata, India — By qualifying GE India last week as the first Indian company fit to import sensitive high technology from the United States, the country’s Department of Commerce has opened what it calls an express lane for high-technology trade between the two countries.

New York, NY, United States — Google is in trouble in China. Its Chinese-language website has been found to have links to pornographic and vulgar content. It has been ordered to stop foreign searches and the automatic keywords feature, and threatened with further punishment if the problem persists.

Beijing, China — General Motors is too shrewd to sell off its Hummer brand to a private Chinese company – or so I thought upon hearing about this deal on June 2. But perhaps there were no other buyers. There are many moneybags in China without much education that would buy a showy high energy-consuming brand like the Hummer.

Ningbo, China — The summit of the so-called BRIC states – Brazil, Russia, India and China – concluded Tuesday in Yekaterinburg, Russia, with a joint declaration that called for more clout for emerging economies in global financial institutions. This is not likely to be attained quickly or easily, however.

Manila, Philippines — The national federation of small fisherfolk in the Philippines this week urged the national government to provide subsidies to small fishermen across the country to cushion the impact of successive oil price increases and the current global economic and financial crisis.

Seoul, South Korea — The Kaesong industrial complex, built with South Korean funds in a North Korean border city to strengthen reconciliation, is posing a dilemma for both Koreas. The North is worried about its workers’ contact with capitalist culture, while the South worries the North will use its profits for weapons development.

New York, NY, United States — On June 2, one day after General Motors filed for bankruptcy protection, Tengzhong Heavy Industrial Machinery, a little-known Chinese company in the hinterland Sichuan province, announced it would buy Hummer from GM. While this may be music to the ears of GM, the Chinese move doesn’t make sense.