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U.S. China News 2011.03.17

Thu, March 17, 2011

China hits US meddling in Spratlys
Philippine Star
By Pia Lee-Brago (The Philippine Star) Updated March 18, 2011 12:00 AM 0 MANILA, Philippines – China rejected yesterday the United States‘ proposal to forge a multilateral resolution of the South China Sea dispute as Beijing branded such action as
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China Donates US$920, 000 Wort of Items to Jubilee Committee in Sierra Leone
Awareness Times
By Aruna Turay The Government of the People’s Republic of China has donated Nine Hundred and Twenty-Thousand United States Dollars (US$920000) worth of items as part of their contribution to Sierra Leone’s celebration of 50th Independence Anniversary.
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China continues to trim its US debt to avoid risks
Rediff
China, the biggest foreign holder of US debt has trimmed its portfolio to $1.15 trillion to diversify its foreign reserve portfolio to avoid risks. China reduced its US Treasuries portfolio by $5.4 billion to $1.15 trillion in January, according to the
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China Urges Full Disclosure on Japan Radiation Leaks
Voice of America
Now if only the China comes clean about all the lead and other dangerous chemicals in the products they send to the US. China should also come clean about all the counterfit products they send to the US, after stealing the technology they don’t know
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Case of ‘Red Dawn’ shows importance of China market
Globe and Mail
China is one of the fastest-growing markets for US films, and studios are eager to get on Beijing’s good side. The Chinese government didn’t even have to utter a word to convince MGM to alter “Red Dawn.” Box-office receipts in China hit a record
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Workers in China: ‘Your iPhone Cost Us Our Health’
PBS NewsHour
authorities were unwarranted – at least for this story. The only officials refusing to cooperate with us were with Apple and its Chinese supplier. Our series from China on worker safety and health care reform will air soon on the PBS NewsHour.
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Score One For China in WTO Steel Anti-Dumping Ruling Against US
MetalMiner
by tberezowsky on March 17, 2011 Looks like there’s quite a development in USChina trade relations this week, as we continue to learn more about how the WTO ruled in an anti-dumping case that has a history all the way back to 2007 – bottom line,
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Latin America Looks to Strengthen US Trade Relations and Step Back From China
Money Morning
China overtook the United States as Brazil’s biggest trading partner in 2009. The United States imported $27 billion from Brazil in 2008, compared to China’s $16 billion, according to the Inter-American Development Bank. However, raw material demand
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China’s yuan strengthens 28 basis points to 6.569 per US dollar Thursday
People’s Daily Online
The Chinese currency, or the yuan, on Thursday strengthened 28 basis points against the US dollar from Wednesday. The central parity rate was set at 6.569 yuan per US dollar, compared with 6.5718 yuan per US dollar on Wednesday, according to the China
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China will hold us to account on carbon
Business Spectator
In fact, it could become a huge issue for Australia a few years hence, when nations or trading blocs that emit less carbon per capita, decide to get tough on us and impose carbon tariffs of their own. And China, Europe and the US are the ones big
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Top Spring Raises US$200 Mln In HK IPO; Hilong Pulls US$190M IPO
Wall Street Journal
At a fundraising size of US$200 million, the Top Spring IPO is the biggest IPO in Hong Kong so far this year, after the US$167 million IPO of marble quarry operator China Kingstone Mining Holdings Ltd. (1380.HK), which is set to list Friday.
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Africa Urged to Balance China, US Relations
AllAfrica.com
Kampala — African economies have been urged to balance economic ties with the United States and China, rather than opting for either in pursuit for development. By doing so, they will position themselves to gain from both economies instead of losing
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China, Germany pause nuclear plans amid Japan’s crisis
USA Today
By Wendy Koch, USA TODAY Japan’s nuclear crisis is causing an increasing number of other countries, including China, France and Germany, to reconsider their use of nuclear power. German Chancellor Angela Merkel called Thursday for a “measured exit”
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China Reduces Holding of US Bonds
Economic Observer
Despite that, China remains the biggest holder of US bonds, amounting to 1154.7 billion USD, according to data released by the US Treasury Department on March 15. The data showed that in November and December 2010, China reduced US bonds by $4 billion
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The Cable: Rubio: America looks weak on Libya — and Russia and China are
Foreign Policy
He asked Burns how China and Russia would respond if America shows it doesn’t “have the guts” to act on behalf of opposition groups. He also asked Burns about the US message to Libyan opposition fighters, who are clamoring for US support while the
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China Yuan Down Late On Demand For Safe-Haven Dollar
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan fell against the US dollar late Thursday as mounting concerns about the nuclear crisis in Japan prompted banks to buy the safe-haven US currency. Dealers said they expect China to keep the onshore currency market
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China vs. US: Manufacturing comparison
Manufacturing Digital
Conflicting reports about the future of Chinese and US manufacturing however have now emerged from industry professionals and experts. So what are the differences between these two countries? Last year, while the recession hit the US, China continued
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US China Mining Group Provides 2011 Financial Guidance; Revenues of $95.7
PR-USA.net (press release)
US China Mining Group, Inc., (“US China Mining”) (OTC Bulletin Board: SGZH) a Chinese leader in coal production and exploration in the People’s Republic of China, today announced preliminary financial guidance for the year ended 2011, ending December
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U.S. Food Expert Says Japan’s Tragedy Will Benefit U.S. Food Suppliers
PR Newswire (press release)
“The length and degree of seafood supply disruptions from Japan and China to the United States will clearly take time to determine, however, Asian seafood exports won’t likely be available in the US for a significant period,” says Lempert.
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Viewpoint: The US Antidumping Law — a US Jobs Destroyer
IndustryWeek
First, the US government should declare China a market economy under the US antidumping law — not to help Chinese companies, but to help US companies. Under the USChina-World Trade Organization agreement, Commerce must make China a market economy
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UMC to buy Hejian shares for US$87 million
Digitimes
Taiwan-based pure-play foundry United Microelectronics Corporation (UMC) plans to acquire an up to 30% stake in its China-based counterpart Hejian Technology, with a total transaction estimated at US$87 million, according to a company filing with the
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Mike Thompson: China is now the world’s biggest manufacturer
Detroit Free Press (blog)
When America’s trade deficit with China cost 500000 US jobs last year alone according to the International Business Times, why do we pretend that there’s some benefit to the status quo? “Free trade” benefits only those at the top of the economic ladder
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Ken Reser: Manganese, a Major Growth Opportunity
Resource Investor
The US does some recycling, but that’s marginal. TGR: Is this dependence situation the same in the EU and other parts of Asia outside of China? KR: Yes. Russia has its own ore deposits, and it’s closer to China than North America.
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Tourists in US in ’10: Record 60 mn!
Rediff
With substantial increase in the number of tourists coming from countries like India [ Images ] and China, US has recorded 60 million international travellers arriving in the country in 2010, shattering the previous record set in 2000 by 17 per cent.
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US, EU stabilizing, but Asia poses economic worry: S&P
China Post
SINGAPORE — Just as growth is stabilizing in the long-troubled United States and Europe, concerns are now emerging about Asia’s economic health. The unfolding disaster in Japan following last Friday’s earthquake, along with the turmoil in the Arab
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China’s Three Star System: Is it Ahead of LEED in the US?
Green-Buildings.com
In absolute value, at the outset, it gives an appearance that China is investing a lot, however it has to be seen alongside with the population, and its contribution to the pollution level. Secondly, unlike US, China is a closed government.
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AgFeed Industries, Inc. Announces 2010 Results
Sacramento Bee
NASDAQ Global Market Listed AgFeed Industries (www.agfeedinc.com) is an international agribusiness with operations in the US and China. AgFeed has two business lines animal nutrition in premix, concentrates and complete feeds and hog production.
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China’s Overhyped, and Underhyped, Greentech Boom
GigaOm
China’s rise in green technology is a menace to US competitiveness: According to Andrew Beebe, chief commercial officer for Chinese solar panel giant Suntech, China and the US aren’t competitors as much as two key actors in a global green technology
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Brazilian Steel Giant Inks Major Metal Distribution Agreement With China Armco
GlobeNewsWire (press release)
Usiminas had approximately US $7.7 Billion in revenues with a net income of approximately US $898 million for the fiscal year ended 2010. For further information, please visit http://eng.usiminas.com/ China Armco Metals, Inc. is engaged in the sale and
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China opposes Uighur activist’s Australia visit
Fox News
Foreign Ministry spokeswoman Jiang Yu did not say Thursday if China would take any action in retaliation against Australia for allowing Rebiya Kadeer to visit. Kadeer is a US-based ethnic Uighur from China’s west. Jiang said China firmly opposed any
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GRAINS-Corn posts biggest gain in 5 mths on exports, China talk
Forexyard
“There is talk that China bought 250000 to 500000 tonnes of US corn, but I have not been able to get a confirmation yet,” said Dan Basse of AgResource Co in Chicago. Last year, China bought US corn for the first time in four years as drought shrunk the
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Cheap food may be a thing of the past in US
Los Angeles Times
Recent floods in Australia devastated much of the wheat crop, while a drought threatened China’s. “We’re not sure if these extremes in weather are the new normal,” said Clive James, founder of the not-for-profit International Service for the
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US removes it citizens from Japan
英文中國郵報
Six days after a massive earthquake and tsunami plunged Japan into its worst crisis since World War II, the US and Britain chartered flights for nationals trying to leave and China moved thousands of citizens to Tokyo for evacuation.
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US urges UN to take military action against Libya
Los Angeles Times
Proposals for a no-fly zone or other military action have faced strong resistance in recent weeks from traditional US allies, such as Germany, as well as Russia and China. But council members have grown increasingly worried about a humanitarian
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China Valves Tech Slides to 52-Wk Low After Missing Q4 EPS E
American Banking News
We 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. American Banking & Market News publishes hundreds of press
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US Seeks UN Resolution Authorizing Strikes on Libya
Fox News
However, the diplomat said the US insists on broad international participation, especially by Arab states. Russia and China have expressed doubts about the UN and other outside powers getting involved and either one could veto a resolution.
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$1.5 million paid for world’s most expensive dog
msnbc.com
be popular here in the US, but a much bigger breed may soon be all the rage. NBC ‘s Adrienne Mong explains. ADRIENNE MONG reporting: It’s a lion, it’s a bear. No, it’s a Tibetan mastiff , to be precise, the latest rich man’s accessory in China .
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Private lending thrives under China credit clampdown
Economic Times
BEIJING: While other businesses chafe under China’s restrictions on bank lending, Gong Chengwei sees a windfall. “For us, the credit controls are good news,” said Gong, a peasant-turned-entrepreneur who runs Beijing GQWY Investment & Guaranty Co,
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Experts: US exports to Japan likely to slow
IdahoStatesman.com
Japan also is one of Idaho’s top 10 export partners, which include Singapore, Taiwan, South Korea and China. The state shipped $273 million in goods such as food, paper, farm machinery and food processing equipment to Japan in 2010, an increase of 76
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Deerfield man gets bail in military secrets case
Chicago Tribune
Liu allegedly told customs agents he was visiting China to see family. But Liu’s laptop had photos of him speaking to the conference, as well as a 14-page Chinese language resume, the report says. Arguing against bail, Assistant US Attorney Andrew
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Cirrus on US Bid: “No Comment”
AVweb
By Mary Grady, Contributing editor Aviation industry analyst Brian Foley said this week he’s hoping to organize a counteroffer from US investors that would tempt Cirrus Aircraft to change its mind about its recent sale to China Aviation Industry
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