Tuesday's best web looks at aviation industry prospects in China and Turkey. We also review the ECB's bailout of Spanish banks, a possible effect of S&P's warning to India, and Anadarko's gas find off the coast of Mozambique. Realtime China interviews author James Fallows about his book "China Airborne" looking at the state of China's aviation industry
Best web: The aviation industry in China is still a work in progress. Author James Fallows has interesting insights on the potential of the industry to succeed, comments on what is holding it back, and how it represents the Chinese economy ( FXI , quote ) more generally.
Best web: The primary focus of Turkish Aerospace Industries has been defense manufacturing of drones and attack helicopters. But with the money it hopes to raise in an IPO it will expand into the civil aviation industry. Given Turkey's ideal central location for flights between Europe and Asia, and the growing demand for civil aviation services, this company could shoot miles high.
Best web: Mike Dolan analyzes the market's reaction to the Spanish bank bailout and theorizes about what message the action sends to Greece. Dolan argues that ultimately the results of the June 17 Greek vote will determine how this crisis is resolved. While Europe and the ECB have shown they are capable of moving fast to recapitalize banks, the real question is how to entice private creditors to get lending again.
Best web: Given the disappointing Q1 growth numbers for the Indian economy ( EPI , quote ), S&P's latest statement may cause the Indian government and central bank to act more quickly to encourage growth. The most likely catalysts to generate this would be an interest rate cut coupled with falling global energy prices, according to strategist Harish Vasudevan.
Anadarko has found more gas reserves in east Africa
Best web: East Africa is laying claim to the title of energy supplier to the continent as Anadarko ( APC , quote ) announced another find of a "major gas field" off the coast of Mozambique. The discovery has led to renewed interest in Anadarko's partner Cove Energy ( CNVGF , quote ) as a potential takeover target.