Chinese factories were forced to temporarily delay production for the olympics, the majority of the population are have-nots and their consumption of iron ore per capita compared to the world is ridiculously low.
As for India as expected they are a little slower to catch on than China (that is their style), expect sectors such as infrastucture to go against the grain of western gloom mixing it with Asia, Brazil, Russia and the Oil rich states IMO
P.S. press the caps lock button off next time, cheers,n