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U.S. China News 2011.03.15

Tue, March 15, 2011

TIC: China Net Seller Of US Treasurys In January; Remains Top Holder
Wall Street Journal
By Ian Talley and Tom Barkley WASHINGTON (Dow Jones)–China was a net seller of US Treasurys in January, but remained the largest foreign holder, the Treasury Department said Tuesday. Overall, foreigners were net buyers of long-term US financial assets
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China US bond purchases decline for 3rd month
AFP
WASHINGTON — China’s holding’s of US debt fell for the third month in January, while buying from Japan and Britain picked up, the Treasury Department said Tuesday. Chinese holdings of Treasury securities fell $5.4 billion, or less than half a percent,
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China bans BPA, leaving US behind yet again
Mother Nature Network
Dr. Sarah Janssen, NRDC health expert, doctor and mom, posts regarding the China BPA ban. By The Switchboard BlogTue, Mar 15 2011 at 12:54 PM EST Comments Over the weekend, Chinese media reported that bisphenol A (BPA) would be banned from children’s
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China Tops US to Become the World’s Leading Manufacturer
2point6billion
15 – After over 100 years of dominance, the United States gave away its place as the world’s top manufacturer to China last year, according to data released by IHS Global Insight on Monday. China assumed a 19.8 percent (US$1.995 trillion) share of
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US senators urge pressure on China over rare earths
Reuters Africa
WASHINGTON, March 15 (Reuters) – Two US senators on Tuesday urged President Barack Obama’s administration “to step up its fight against China’s hoarding of critical rare earth elements” by blocking funding for Chinese mining projects.
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US: Apparel industry backs Locke as top China diplomat
just-style.com
The nomination of Commerce Gary Locke as the next US ambassador to China has been welcomed by the trade group representing the US apparel and footwear industry. “It is critical that the next US ambassador to China fully understand the sensitive
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US China Mining Appoints Tony (Xinyu) Peng as Chief Financial Officer
PR Newswire (press release)
Mr. Peng joins US China Mining after working with China Recycling Energy Corp. as Chief Financial Officer and Secretary of the Board from August 2008 to December 2010, where he was responsible for financial, accounting and US investor relations.
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US advises PHL: Settle Spratlys row with China peacefully
GMANews.TV
The United States advised the Philippines anew to “exercise restraint” and settle its row with China on the Spratly Islands issue peacefully at the negotiating table. US Ambassador to the Philippines Harry Thomas Jr. on Tuesday said US Secretary of
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China Wind Announces Appointment of Chief U.S. Sales Director
PR Newswire (press release)
a leading supplier of forged products and industrial equipment to the wind power and other industries in China, today announced the appointment of Mr. Jason Carline as the Company’s Chief US Sales Director effective March 15, 2011.
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US, Brazil share interest in FX flexibility -W.House
Reuters
WASHINGTON, March 15 (Reuters) – The United States and Brazil would both benefit if other countries allow their exchange rates to be set by market forces, a top White House aide said on Tuesday in a coded reference to China. Brazil, like the United
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US, China tussle over Africa: governments warned to exercise caution
Bizcommunity.com
The report, titled “China and US in Africa – Measuring Washington’s response to Beijing’s commercial advance” and researched by Standard Bank economists Simon Freemantle and Jeremy Stevens, insists that a multipolar globe lies on a more mature and
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Last Week in Global IPOs: Notable News in U.S., China
Seeking Alpha
Sixteen notable global IPOs debuted last week, with the average (median) IPO finishing the week with a gain of 12.62% (+8.00), including China A Share IPOs. US-domiciled IPOs continued to be in the focus amongst institutional investors, with hospital
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China Watch: Qihoo Sets Sights on US, Rapping About Inflation With Stephen Chow
Wall Street Journal (blog)
A daily list of the best of The Wall Street Journal’s China coverage and what the Journal’s reporters in China are reading and watching online. (NOTE: WSJ has not verified items in the ‘News Items’ section and does not vouch for their accuracy.
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Libya: U.S, Germany, china and Russia not ready for war
Afrik-news
Like the Obama administration, Russia and China also remain cautious about the prospect of military intervention. British however is ready to intervene. Prime Minister David Cameron advocates for action, saying Col. Gaddafi should not be allowed to
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Insights into China’s place in the world
Asia Times Online
These frustrations perfectly illustrate the two narrative arcs driving the US and China: the US believing it still needs to play a regional role in East Asia, and China believing doing so will not always be in China’s best interests and that it should
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China’s yuan strengthens 22 basis points to 6.5679 per US dollar Tuesday
People’s Daily Online
The Chinese currency, or the yuan, on Tuesday strengthened 22 basis points against the US dollar from Monday. The central parity rate was set at 6.5679 per US dollar, compared with 6.5701 yuan per US dollar on Monday, according to the China Foreign
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The Lure of a US Listing Remains Powerful for Some Chinese Companies
The American Lawyer
With top US capital markets firms virtually stepping over each other to launch Hong Kong law practices, one might think that the best days for US securities law practices in Hong Kong and China are over, and that Chinese companies now turning
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Rare earth price could fall after Japan quake: exec
Reuters
“It would surprise me if China became net importer of light rare earths given the 1000 year supply I understand is there,” Neatby said. “If China does become a net importer of the rare earths, it would be the heavy rare earths.” Two US senators called
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China To Export CPUs To The US … In 2030.
ConceivablyTech
China’s idea is to stop using foreign processors initially for their supercomputers and use their Loongson chips instead, which would eliminate a considerable business opportunity for US companies such as Intel, AMD and Nvidia – which have supplied
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US trade panel renews shrimp import duties for 5 yrs
Reuters Africa
WASHINGTON, March 15 (Reuters) – A US panel on Tuesday voted to continue import duties on shrimp from Thailand, China, Vietnam, India and Brazil for five more years in a victory for US shrimpers hurt by last year’s BP oil spill.
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Rough Diamond Prices May Gain 25% This Year on ‘Voracious’ China, Gem Says
Bloomberg
By Thomas Biesheuvel – Tue Mar 15 09:11:31 GMT 2011 Rough diamond prices may surge more than 25 percent this year driven by “almost insatiable” demand from China, India and the US, Gem Diamonds Ltd. (GEMD) said. “Most people in the industry continue to
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US Commodities Day Ahead: Raw Materials Tumble on Japan Crisis
Bloomberg
Rough diamond prices may surge more than 25 percent this year driven by “almost insatiable” demand from China, India and the US, Gem Diamonds Ltd. said. AngloGold Ashanti Ltd. said it’s maintaining its full-year production guidance of 4.55 million
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China is no threat to the US: General
China.org.cn
By Zhang Ming’ai The state of Sino-US ties will be decided by the US, because China has always maintained a constructive attitude and is committed to preserving a positive, cooperative and comprehensive relationship in the 21st century, Major General
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Audit cop PCAOB finds flaws in audits of Chinese companies
Washington Post (blog)
The problems were found at Chinese companies audited by US accounting firms. China does not allow the oversight board, a nonprofit corporation created by Congress, to inspect audit firms based in China. “If Chinese companies want to attract US capital
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China Sends Electric Vehicles to US for Testing
Automotive Discovery
The shipment left Shanghai, China on February 26, 2011 and consisted of eight All-Electric Sport Utility Vehicles (SUV) and one All-Electric Multi Purpose Vehicle (PPV). The shipment should arrive in the Port of Long Beach, California this week.
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China Yuan Down Late On Japan Concerns Despite Dollar/Yuan Fixing
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan fell against the US dollar late Tuesday despite a lower dollar/yuan central parity rate as concerns about Japan’s escalating nuclear crisis boosted the dollar overseas. On the over-the-counter market, the dollar was
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Four Ways the US Can Help Japan, Also Itself: Amity Shlaes
Bloomberg
If Japan is to stabilize and avoid a future in China’s shadow, it needs to grow faster. And it needs a strong US to be a counterbalance to China. The first US move is the easiest: when it comes to trade, stop being a prissy multilateralist.
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Ma’s cross-strait policy a limited success: US expert
Taipei Times
China has not only withheld support for further expansion of Taiwan’s international space, it has also continued long-standing efforts to squeeze Taiwan’s international space,” said Bonnie Glaser, a senior fellow with the Center for Strategic and
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CER Wins $3.6 Million (US) Contract from Shaoxing Mingye Chemical Fiber Co.
PR Newswire (press release)
SHANGHAI, March 15, 2011 /PRNewswire-Asia/ — China Energy Recovery Inc. (CGYV.PK) (“CER”), an international leader in the design, fabrication and installation of waste heat recovery systems, announced today that it was awarded a $3.6 million (US)
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US Government: Evermore Reliant on Foreign Investors
Gold Seek
By Kieran Osborne, CFA, Co-Portfolio Manager, Merk Funds Despite the Fed recently surpassing China as the largest owner of US government debt, the US remains heavily reliant on foreigners to fund the government’s ongoing fiscal largess.
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APAC SMBs raise cloud spend to US$11.4B
ZDNet Asia
with fastest growth in China, India and Southeast Asia, says new report. Small and midsize businesses (SMBs) in the Asia-Pacific region, excluding Japan, will spend US$11.4 billion on cloud computing this year, a new report has revealed,
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Bob Dylan to play China for first time
TheDay.com
The 69-year-old American legend was expected to meet resistance from Chinese censors considering his association with US protest movements in the 1960s. Songs like “Blowin’ in the Wind” and “The Times They Are a-Changin” were inspirations for the
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Obama trip is a historic chance for US– Brazil ties
Reuters India
The issues that pushed the two apart — trade disputes, Brazil’s growing clout in global affairs and its ties with Iran and other anti-US governments — haven’t gone away. But economic changes, including the rise of China and stubbornly high US
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We’re Being Left in the Dust on Trade
MarketWatch
Regarding your editorial ” The Trade Equivocator” (March 8): Excluding countries that have signed free-trade agreements with both the US and China, in the past five years China has inked trade deals with nations that have an aggregate population of 750
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JING ZHUO JIANG v. ATTORNEY GENERAL OF U.S.
Leagle.com
In 2006, Jiang left China for the United States, hoping to eventually send for his wife and son. He testified that if he were removed to China, he would be subjected to beatings, fines, and imprisonment, and that either he or his wife would be
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Recalls: Walgreens, Pep Boys, QVC, HSN
OCRegister
“The firm has received six reports of fires from fuel leakage …,” according to the US Consumer Product Safety Commission. Four companies are voluntarily recalling about 226300 products that were manufactured in China and sold through various outlets
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China MediaExpress CFO Quits, Auditor Calls for Inquiry of Bus Advertiser
Bloomberg
China MediaExpress is one of about 370 Chinese companies that obtained US listings since 2004 without the rigors of initial public offerings. CV Starr & Co., the investment company owned by former American International Group Inc. Chief Executive
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Chinese long-term care growing, lacking oversight and regulation, similar to
McKnight’s Long Term Care News
The growing demand for nursing homes in China has dramatically outpaced the government’s ability to provide oversight, leaving that country’s long-term care industry in a state similar to that in the US 40 or 50 years ago, according to a new study.
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Regulator denies reports about China to hike individual forex purchase quota
istockAnalyst.com (press release)
The SAFE said it currently has no plans to raise the quota. The announcement came after media reports said that China would raise the current quota of 50000 US dollars to 200000 US. dollars. China has the world’s largest foreign exchange reserves.
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Japan Crisis Shouldn’t Derail Nuclear Movement in US
Fox Business
Even if US policy makers respond to the Japanese crisis by delaying plans for new domestic nuclear plants, it’s unlikely other countries such as China or Korea will follow suit, experts predicted. (On Tuesday, Germany said it will shutter all of its
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CEO of Taiwan House: Shen Yun ‘Brings Us Happiness And Hope’
The Epoch Times
China has long given me painstaking and miserable feelings. But now [Shen Yun] brings us happiness and hope, and throws away the sorrows.” New York-based Shen Yun Performing Arts has three touring companies that perform simultaneously around the world
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How Similar Will the Current Japanese Crisis be to the Credit Crisis of 2008?
Forbes (blog)
As such, just like what happened to the world when the US mortgage market melted down, what happens to Japan also happens to Europe, the US China etc. To be sure, there are more than a few gaping holes in this argument, not the least of which is the
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First to leave Afghanistan will be noncombat US troops: NYT
Associated Press of Pakistan
Trade between the two countries will definitely be affected in the short term, said an official with China’s Ministry of Commerce. NEW YORK, March 15 (APP): The United States military is preparing to start withdrawing, as planned, a many as several
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Obamanomics: Guess Who Came to Dinner; Guess Who Didn’t Even Get Asked?
Huffington Post
400000 of these employees work in a single location outside of Shenzhen, China, of whom 250000 are dedicated solely to manufacturing Apple products sold in the US In other words, for every 1 of the 25000 American workers now employed by Apple mostly in
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