A recent lead paint scare prompted a massive recal by Chinese toy manufacturers. Photo: conner395 (flickr)

The U.S. currently imports about $2 trillion worth of Chinese goods — an amount that The Associated Press reports is "equal to four times the size of the Brazilian economy."

To make sure Chinese goods are safe and honestly represented, the FDA announced that they are preparing to open an office in Beijing — the group's first office outside the U.S.

HSBC's new project strives to lend to Muslim business owners. Photo: Leeno

Do microloans conflict with religion?

Up to 40 percent of respondents in Jordan, Algeria, and Syria cited religious reasons for not using conventional microloans, according to surveys by the World Bank’s Consultative Group to Assist the Poor.

Many Muslims are leery of the traditional banking system because the idea of making money from money, or charging interest, is considered illegal under Sharia (or Islamic) law. Many banks in Muslim countries now offer Islamic banking products that allow banks to make money from their loans in other ways, such as by sharing the risks and profits of an investment.

HSBC, the world's largest banking group, sees Islamic microfinance as a market niche rather than a roadblock. HSBC Amanah has offered Islamic banking services in the past, but is now taking on an Islamic microfinance project in Pakistan in partnership with the international charity Islamic Relief. HSBC’s Nabeel A. Shoaib remarked:

"We are extremely excited to partner with Islamic Relief in this ground-breaking initiative to bring greater financial inclusion to Pakistan’s poor and empower hundreds of families to capture good economic opportunities. We are confident that Islamic microfinance can be a promising finance tool that can help reduce poverty and accelerate economic growth and financial inclusion, particularly in impoverished rural areas.”

Microfinance has worked in predominately Muslim countries such as Kyrgyzstan, where Global Envision's parent Mercy Corps helped found what's now the country's leading small-scale lender.

Kompanion was founded by Mercy Corps in 2005 to consolidate the lending operations of five independent NGOs in Kyrgyzstan. With more than 50 offices throughout the mountainous, landlocked republic, Kompanion currently serves 20,000 clients with more than $5 million in loans outstanding.

Let’s hope HSBC and Islamic Relief achieve the same success.

Under the proposed plan, these men will be eligible for stock. Photo: Richard Messenger (flickr)

Poor people are not your stereotypical stockholders. But Egypt’s ruling party has proposed a plan to distribute stocks of publicly owned companies to all Egyptians.

Anyone over the age of 21 will receive coupons they can exchange for shares. Rich and poor alike would be invested in the stock market.

There are doubts as to whether distributing stocks to all will change who profits in the end. Previous privatization efforts have been "marred by claims of corruption and nepotism favoring the government's well-heeled backers," reports The Associated Press.

Gamal Wafa, an engineer at a factory that was privatized three years ago, was doubtful about the plan, voicing common concerns that the country was being sold off to foreign investors. ‘Everything will fall in the hands of the rich, (Gulf) Arabs or foreigners, and the rest of the nation will only serve as doormen.’

How's this for a sad irony:

Food is so scarce in Haiti that many mothers aren't naming their babies until they've survived their first few months of life. Yet Raj Patel, author of a book about the global food system, tells CNN: "There's more food per person in 2008 than there's ever been in history."