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U.S. China News 2011.03.11

Sat, March 12, 2011

US courts confront China’s involvement in price fixing
Reuters
The outcomes of those cases are not expected to have an immediate impact on US trade relations with China, the largest supplier of goods imported into the United States. As China’s economic power continues to grow, however, the disputes could be a sign
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USTR “deeply troubled” by WTO ruling in China case
Reuters
WASHINGTON, March 11 (Reuters) – The United States is “deeply troubled” by a World Trade Organization ruling in a case brought by China against US methodology in anti-dumping and countervailing duty cases, the top US trade official said on Friday.
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Director of Nobel Institute talks on role of US, China
Decorah Journal
By Sarah Strandberg If the United States remains the No. 1 power in the world, it would go against all laws of history, according to Geir Lundestad, one of the featured speakers at the 23rd annual Nobel Peace Prize Forum at Luther College Saturday.
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Can the United States feed China?
Washington Post
The United States exports about 90 million tons of grain annually, though China requires 80 million tons of grain each year to meet just one-fifth of its needs. Just as China is America’s banker, America could become China’s farmer.
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US returns ancient artifacts to China
Xinhua
Most of the objects were seized as part of the Operation Great Wall, an initiative targeting illicit importations originating from China. Following the signing of an agreement between the United States and China in 2009, the two countries have been
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China welcomes newly nominated US ambassador
BusinessWeek
If confirmed by the US Senate, Locke would replace outgoing ambassador Jon Huntsman, who leaves in April to explore a presidential bid. Locke would be the first Chinese-American to take up the post of top China envoy. “ChinaUS relations are highly
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US STOCKS-Futures fall after Japan quake, China data
Reuters
By Chuck Mikolajczak NEW YORK, March 11 (Reuters) – US stock index futures fell on Friday after a massive earthquake hit Japan and accelerating inflation in China rattled investors. The biggest earthquake on record to struck Japan on Friday,
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China’s Yongding Back to Warning Against US Debt
Forbes (blog)
By KENNETH RAPOZA The US official debt ceiling is over $14 trillion. Could it go higher? And will China — the largest holder of US Treasurys — buy that debt? Former Chinese Central Bank advisor Yu Yongding was back to ringing alarm bells on US
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DNI: China, Russia biggest threats to U.S.
UPI.com
WASHINGTON, March 11 (UPI) — James Clapper, the director of national intelligence, says China and Russia, with their nuclear stockpiles, are the biggest dangers to the United States. Clapper testified Thursday before the Senate Armed Services
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Gillard pressed on carbon tax, China ties
ABC Online
But for all the talk this week of great mates, the American network wanted to know whether China was actually more important to Australia than the US. “The United States and China are both important to our future. Our alliance with America is rock
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US States Abandon High-Speed Rail as China Races Ahead
DailyTech
But can the US keep up with China if only half its states are willing to commit to transportation advances? (Source: AP Photo) By 2020, China will be blanketed by high-speed rail. The Asian giant is investing $1T USD to create 16000 miles of high-speed
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India, China driving global oil demand: Obama
Economic Times
WASHINGTON: Increased use energy resources by fast growing economies like India, China and Brazil is driving the global oil and gas demand , US President Barack Obama said today. “The problem is a great deal of uncertainty in the oil markets,
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US, India draw closer as defense planners, army chiefs meet
Times of India
WASHINGTON: Top men leading India’s fighting arm and its defense policy engaged with their American counterparts here this week as New Delhi and Washington drew closer in a strategic clinch while trying not to alarm China and Pakistan, which are seen
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Defence ties with the US for upgrade
The Australian
Julia Gillard will today discuss the options for an escalation of military co-operation with the commander of the US’s Pacific military operations as Canberra and Washington attempt to counter the rising power of China and India.
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Hong Kong Stocks Fall on US Jobs Data; Banks, Developers Drop
Bloomberg
By Kana Nishizawa – Fri Mar 11 08:46:34 GMT 2011 Hong Kong stocks fell for a second day as a US jobs report dented confidence in a global economic recovery, and as China’s inflation rose more than expected, fueling tightening concerns by the nation’s
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US LIVESTOCK REVIEW: Japan Quake Pulls Hogs, Cattle Lower
Wall Street Journal
Fears that interest rates in China may be raised to control inflation along with strength in crude oil prices earlier this week already had traders concerned about their investments in commodities after cattle hit record highs and others were at
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Obama Pays the Price for High Energy Costs
Fox News
Energy prices were already rising because of increased worldwide demand, spurred partly by the end of the economic downturn in the West and exploding growth in China, India and other spots in the developing world. At the same time, US consumers felt an
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U.S. Dollar Collapse Could Occur at Any Time, Says NIA
PR Newswire (press release)
China will be successful at containing inflation, as US inflation spirals out of control and becomes the greatest economic crisis in American history. China this week reported a $7.3 billion trade deficit for the month of February, its largest trade
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Holiday-themed infant slippers recalled
UPI.com
About 57000 holiday rattle baby slippers — soft shoes with built-in rattles — were imported from China by Atico International USA of Fort Lauderdale, Fla., and sold nationwide at Walgreens stores from October 2010 through January 2011 for about $5.
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Bob Dylan Ordered to Not Hurt Feelings in China
Gibson
China’s Ministry of Culture said that Dylan will be allowed to perform in Beijing between March 30 and April 12. The approval notice requires that Dylan stick to a program, vetted by ministry officials, but didn’t give specifics.
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Money, minerals make for Africa-China marriage
Reuters
“In the process, they are making it easier for us to achieve what we want. What we want is to rebuild our countries.” China forged partnerships with many African states decades ago in their liberation struggles to end colonial rule and later invested
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MICHAEL REAGAN: Is Obama Doing to the US What My Dad Ronald Reagan Did to the
Fox News
More than a year ago, Chinese communist General Luo Yuan told the state-run Xinhua News Agency that China should attack the US “by oblique means . . . such as dumping some US government bonds.” (China currently holds about $1.16 trillion of US debt.
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Grains Outlook for March 11, 2011
Inside Futures
Increased US winter-wheat plantings are a near-term negative, but adverse weather in the US, China and Australia and a lack of Russian exports is supportive. The US wheat supply situation remains above-average with the US stocks-to-use ratio at 35.2%,
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Ahead of the Bell: Trade Deficit
BusinessWeek
The administration is taking a tougher stance in trade disputes with China, the country with which the United States runs its highest deficit. On Wednesday, Obama sought to highlight the importance of the USChina relationship by nominating Commerce
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Copper Rebounds From Three-Month Low in New York as US Equities Rally
Bloomberg
Retail sales in the US, the world’s largest copper consumer after China, increased in February by the most in four months. The metal, used in homes, cars and appliances, often moves in tandem with the economic outlook. “Copper got a lift from outside
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US stock futures fall after Japan quake
Indian Express
US stock index futures fell on Friday after a massive earthquake hit Japan and China inflation topped expectations unsettled investors. * The biggest earthquake to hit Japan on record struck the northeast coast on Friday, triggering a roughly 30-foot
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Quake, Tsunami Throw More Uncertainty Onto U.S. Stocks
Wall Street Journal
A downgrade of Spanish debt, disappointing trade data from China and continued unrest in the Middle East and North Africa were other concerns that sent US stock indexes plummeting Thursday. Now, in the wake of the quake, a slowdown in Japan’s economic
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Stocks plunge on economic news, slumping oil price
BusinessWeek
By FRANCESCA LEVY Weak economic news from China, the US and Spain combined with a slump in oil companies sent stocks sharply lower Thursday. Investors were jarred when China reported a surprise trade deficit in February. China’s exports fell as
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Is China Next?
Wall Street Journal
But do these remarkable developments tell us anything about the possibility for future instability in China? It is certainly true that the dry tinder of social discontent is just as present in China as in the Middle East. The incident that triggered
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Ethiopian adoptions may be in peril
Washington Times
NEW YORK – Ethiopia is poised to overtake China as the number one country of origin for foreign adoptees in the United States. Matches between orphans and families have been on the increase in what’s widely been recognized a one of the most successful
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While Congress Debates Climate Science, China and Europe Move Ahead
Huffington Post (blog)
Meanwhile, in the US Congress, hearings continued about a bill to block the US Environmental Protection Agency from protecting the environment–specifically, “from promulgating any regulation concerning, taking action relating to, or taking into
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Japan Tsunami: 300 killed, US on alert, China pledges support, Radiation leak
Asian Tribune
Conscious of the ripple and domino effect of the 8.9 magnitude Tsunami following a massive off shore earth quake that devastated Japan on the stock and trade market worldwide, the US president Barak Obama on Friday 11 March in the early morning hours
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US markets shrug off Japan quake
Washington Post
The muted reaction in the United States followed a sharp drop on Thursday as investors reacted to renewed concerns about Europe’s debt crisis, news of more violence in the Middle East and signals that China’s booming economy may be slowing.
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Bill Gross May Be Wrong, It’s Time To Buy US Treasuries
Forbes (blog)
said this week that he is negative on US debt and has dumped all US Treasury bonds from his fund. Even that may be a buy signal. On slowing global economic growth, reports this week from China, the world’s second largest economy, and Japan,
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U.S. Stocks Edge Over Break-Even Line
Investor’s Business Daily
China’s February inflation came in worse than expected. US retail sales matched views but topped estimates ex autos. The UM consumer sentiment gauge was much weaker than expected, but business inventories data suggested factory orders would be rising.
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Next Commerce Chief Will Play a Key Role in Obama’s Export Plan
DailyFinance
By PETER COHAN Posted 11:30 AM 03/11/11 Economy, Google , Pfizer, Small Business This week, President Obama announced that he’s nominating Commerce Secretary Gary Locke (pictured) as US Ambassador to China, which will leave an open slot at the Commerce
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SPECIAL REPORT-The Macau Connection
Reuters
And China’s ire already has been felt once as the government choked off the supply of gamblers to Macau. Criminality within the VIP segment made China “very concerned,” one US diplomat revealed in a cable. In late 2008, according to a missive,
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Chilean Peso Little Changed as US Oil Price Falls Through $100
Bloomberg
The peso has weakened more than any other major currency in the region this week as copper fell 7.8 percent on declining sales to China, the biggest customer for Chile’s copper. As the peso sank this week, local intermediaries had accumulated long
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WikiLeaks: As AIG crumbled, China stepped in
Sydney Morning Herald
US officials believe China’s insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm’s collapse in 2008, according to unpublished diplomatic cables. The US government bailout of American
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Obama: Being president of China would be easier
Pajamas Media
No one expects China to do anything but ruthlessly pursue its own self interests. That’s all China does, both at home and abroad. For instance, though China is right next door to Japan and the US is thousands of miles away, no one really expects China
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Why You Should Sell MEMC and Buy LDK or JA Solar
Seeking Alpha
Americans should be very careful to continue to view the world in such a US centric way that they refuse to invest in an economy like China altogether, or if they do they view $1 in earnings per share earned by a US company to be worth considerably
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WikiLeaks cable from Costa Rica tells of decision to dump ROC for China
Examiner.com
A WikiLeaks “Confidential” State Department cable from the US Embassy in San Jose, Costa Rica, dated June 7, 2007, details a switch in diplomatic relations. The cable is titled, “Costa Rica recognizes China” and was sent to Washington, DC with copies
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US STOCKS SNAPSHOT-Wall St slips at open after Japan quake
Reuters
NEW YORK, March 11 (Reuters) – US stocks fell at the open on Friday after a massive earthquake hit Japan and accelerating inflation in China unnerved investors. The Dow Jones industrial average .DJI fell 33.08 points, or 0.28 percent, to 11951.53.
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China inflation high but levels off
American Banking News
China inflation high but levels offAmerican Banking NewsWe cover news surrounding large-cap US financial companies, including Citigroup, Bank of America, Wells Fargo and JPMorgan Chase and discuss the fledgling industry of peer to peer lending.
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