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U.S. China News 2011.03.23

Wed, March 23, 2011
The BRICS - Brazil, Russia, India, China and S...

BRICS: Brazil, Russia, India, China, and South Africa

US firms doing well in China but worry on future
BusinessWeek
A US business group says American companies are planning to expand operations in China but remain deeply concerned over the regulatory environment for foreign businesses. An annual survey released Tuesday by the American Chamber of Commerce showed that
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China Can Grow 8% for 20 Years to Become Twice US Size, World Bank Says
Bloomberg
By Bloomberg News – Wed Mar 23 07:25:09 GMT 2011 China can grow 8 percent annually for the next two decades to become twice the size of the US economy, World Bank Chief Economist Justin Lin said. The nation can continue to exploit a “latecomer”
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Cleantech Venture Demonstrates Collaboration Between US and China
San Francisco Chronicle (press release)
As part of the company’s strategy to bridge cleantech professionals and investors from around the world, OnGreen has partnered with the University of Michigan and Joint USChina Collaboration on Clean Energy (JUCCCE).
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China WTO victory sets challenge to US
Asia Times Online
Such a reading would be a mistake, as the WTO’s March 11 reversal of a past finding from October 2010 which benefited the US, to its now final ruling in China’s favor, highlights what could prove to be an important inflection point in USChina trade
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BRICS is not an anti-US bloc: China
Hindu Business Line
PTI China today termed BRICS as an “adhoc political club” of developing economies, formed to address concerns of emerging markets with no political agenda to evolve into an anti-US bloc. Bracing up for April 14 summit of leaders from Brazil, Russia,
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China As America’s Banker, America As China’s Farmer: Malthus Was Right
Forbes (blog)
With the US the world’s largest grain producer and China the largest holder of US debt, Lester asks, “with China now America’s banker, will America become China’s farmer?” Thomas Malthus sparked one of the most heated debates in economics back in 1798
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China blocks up to $5bn in US farm sales: US
Sydney Morning Herald
The United States could sell China $5 billion more in farm goods if Beijing cut trade barriers, according to an official study Tuesday that is likely to stoke trade tensions between the two powers. “Results suggest that the elimination of Chinese
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US to Overtake China with World’s Fastest Computer
TechNewsDaily
A US national lab plans to unveil a “Titan” supercomputer in 2012 that would dwarf the computing speeds of the latest record holder from China, as well as all previous competitors. The new computing behemoth is designed to crunch 20000 trillion
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‘What if?’ scenario: Cyberwar between US and China in 2020
EurekAlert (press release)
To date, the cyberattacks in East Asia have been relatively benign, said Christopher Bronk, author of “Blown to Bits: China’s War in Cyberspace, August–September 2020,” published this month in the US Air Force journal Strategic Studies Quarterly.
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Go East, Young Man: US Execs to Invest Even More in China in 2011
Forbes (blog)
American companies are investing more in China, and in record numbers. Despite an economic slowdown and regulatory problems, the average US corporation intends to invest even more in China this year. When it comes to doing business in China,
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US anger at World Service funding bid
Digital Spy
By Andrew Laughlin, Technology Reporter A bid by the BBC World Service Trust to secure US government funding to help fight censorship in countries such as China and Iran has been criticized from within America. On Monday, it emerged that the World
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China trade forecast to surge ahead of US
This is Money
PwC said the two countries with the largest amount of sea and air trade between them in 2009 were China and the US. By 2030, the value of goods traded between the US and China is expected to have more than doubled to around £360bn.
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Now Red China is slamming us for Libya
Pajamas Media
with articles and commentaries depicting the American-led assault as an attempt to grab that country’s oil resources and expand American influence in the region. …then we’ll think about taking China’s criticisms of US policy seriously.
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China Flooring Holding Plans To Raise Up To US$300 Million In Hong Kong IPO
NASDAQ
HONG KONG -(Dow Jones)- China Flooring Holding Co. is planning to raise between US$200 million and US$300 million in an initial public offering in Hong Kong, a person familiar with the the situation said Wednesday. The flooring manufacturer aims to
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WTI oil trading at $105, China & US demand supports prices
Live Oil Prices
WTI oil futures open today’s trading session near $105 a barrel as the latest data out of China and the US looks bullish for oil prices, suggesting that crude oil demand is still increasing. US Light crude oil futures for May 2011 delivery was trading
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Speaker: US pays as China grows
Wilkes Barre Times-Leader
WILKES-BARRE – In an effort to raise awareness on economic tensions with China, Patrick Mulloy spoke to a full auditorium at King’s College on Tuesday night. Pat Mulloy, a commissioner on the USChina Economic and Security Review Commission,
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‘Til Death Do Us Part’ raises issue of rural AIDS in China
China Post
“Til Death Do Us Part” stars Zhang Ziyi, known for “Crouching Tiger, Hidden Dragon,” and Hong Kong actor-singer Aaron Kwok. Gu said the role of an ostracized patient “really belonged to no one other than Ziyi.” Zhang told The Associated Press on
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US Commerce Dept Plans To Impose Countervailing Duties On China Wood Flooring
NASDAQ
WASHINGTON -(Dow Jones)- The US Commerce Department announced Tuesday an initial decision to impose countervailing duties on imports of wood flooring from China, citing evidence that the Chinese government had provided unfair subsidies to local
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China Mart Los Angeles® Launches Fraud Lawsuit Against Global Trade Center
Benzinga
China Mart USA LLC, known as China Mart® and ChinaMart™ Los Angeles, and 1st PMF Bancorp® have filed a USD $100000000 million lawsuit against Global Trade Center, Inc (a Nevada corporation) owned by parent company, Hong Kong Global Trade Center
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Nigeria: China Eximbank Approves US$30 Million Trade Facility for Access Bank
AllAfrica.com
Specifically, the bank said that it has been granted a $30million trade finance facility by the Export-Import Bank of China (China EximBank) which covers letters of credit and export credit guarantee. Access Bank is a leading African financial
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Vast majority of US-funded China firms profitable
People’s Daily Online
US-funded enterprises in China are no longer worried about a possible double-dip recession for the Chinese economy, and 83 percent of respondents will increase business investments in China in 2011, according to the “2011 Business Environment Survey”
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Earthquake disaster prompts Japan to embrace US social media
DVICE
While China still blocks some of America’s most popular social media services, Japan’s office of the Prime Minister took the recent earthquake disaster as an opportunity join the ranks of Facebook and Twitter. Launched today, the government’s Facebook
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Wolverines surrender to China?
Washington Times
The remake was set to have China invading US soil but the invaders will now be North Koreans. By Michael Warren “Red Dawn 2011” will have North Korea invading the US instead of China. In 1984, MGM released “Red Dawn,” a movie that depicted a Soviet
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US economic recovery and China’s auto industry
Gerson Lehrman Group
China’s current exports are further recovery, which can be seen from the export data: exports increased chain growth for four consecutive months, PMI new export orders index line more than 50% for four consecutive months.We believe that the US economy
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Is the US dollar waning in strength?
Ghana Business News
China is also exhibiting ambition to project Shanghai as a predominant world financial center by 2020. Two major US multinationals, MacDonald’s and Caterpillar have issued renminbi based bonds. China’s ties and trade with a Beijing friendly party (led
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America should not meddle in the civil war in Libya
Hunterdon County Democrat – NJ.com
It marks the day we went to war when no threat to us existed. I have yet to hear any solid justification as to why America is meddling in the Libyan civil war. Germany, Russia and China are smart enough to sit this one out.
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GRAINS-US wheat tumbles on forecast for moisture
Futures Pros
US weather concerns provided some underpinning to corn, as wet and cold weather in parts of the US Midwest was seen slowing early spring fieldwork. Talk that China had in fact made a large purchase of US corn last week, despite denials by the China
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REFILE-China shares up on property, HK down as earnings disappoint
Reuters
Other energy stocks however, traded up, with China Resources Power Bldg Co Ltd up 3.6 percent and leading gainers on the day. “Company earnings are likely to dominate trading in the short-term, with shrinking volume in Hong Kong, China and even the US
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Gold may hit $5000 an ounce in 3-4 years: Canadian miners
Reuters
US Gold mines gold and silver in the United States and Mexico. Minera has a project in Argentina. McEwen said he believed that countries such as China, Russia and India would buy gold as part of their foreign exchange reserves. If China wanted the yuan
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Miami’s role as Hong Kong gateway requires an air link to really take off
Miami Today
“Hong Kong has a free trade agreement with mainland [China]” while US professional service firms also receive preferential treatment in China. Services account for 92% of Hong Kong’s gross domestic product, he noted. Its main industries are financial
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Granholm joins Pew as energy adviser
Detroit Free Press
She said clean energy is “the mother of all markets,” and the US must not fall behind China and Europe in producing renewable energy products. “Our goal here is to use the Michigan experience in creating energy jobs, to say to America that policy
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Pirated DVDs of Hollywood films flood Chinese market
Kansas City Star
“Black Swan,” which debuted in US theaters on Dec. 3, was available on DVD in China by late in the month. Aside from a brief bit of text at the start of the disc warning viewers not to copy or sell the movie, the film was crystal clear.
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U.S. Commodities Day Ahead: Thailand Planning Fewer Rice Crops
Bloomberg
China can grow 8 percent annually for the next two decades to become twice the size of the US economy, World Bank Chief Economist Justin Lin said. Beijing’s Communist government, faced with a widening gap between rich and poor, moved to make the issue
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Filmart Market Off to a Hot Start
Hollywood Reporter
Exhibitors from China and the US, who were each in their own dedicated space, are rejoicing in the increased foot traffic, concentrated buyer numbers and easy access. “It’d be a lot of trouble if we come here by ourselves,” said China’s Magical Media
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While China Is No. 1 in Manufacturing, U.S. Still Runner-Up: 3 Plays to Consider
Seeking Alpha
For instance, The Financial Times reported that China has officially surpassed the US as the global manufacturing leader, ending America’s 110-year reign. I wasn’t necessarily surprised that this happened – in fact, we’ve been hearing projections about
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Why America No Longer Gets Asia
Council on Foreign Relations (blog)
That security-related role has been reinforced in recent months, as China’s behavior has scared its neighbors silly, from Japan to Vietnam to India. But unless US policymakers adapt to the contours of a more integrated Asia, and soon, they will miss
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Meltdown-or-Not Future for Nuclear Seen in Diminutive Reactors
Bloomberg
The US nuclear industry is already growing more slowly than those of China, Russia and India. Nuclear generating capacity may jump by 77 percent in the Far East, including China, by 2020 compared with 12 percent in North America, the IAEA says.
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US slowly, very slowly oozes rare earth assault
Network World
The site had been shutdown in 2002 amid environmental concerns and the low costs for rare earth metals provided by mining operations based in China. Molycorp, the owner of the Mountain Pass mine, is seeking to free the US from its dependence on China
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Locke as ambassador to China? Business leaders see a boon
Crosscut
“The USChina bilateral relationship is probably the most important relationship in the world at this time, and likely will continue to be so for the foreseeable future. It is a relationship characterized by extensive cooperation and conflict,
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Year-old viral video resurfaces amid budget debate: taxing and spending causes
The American Independent
The ad is set in Beijing, China, and features a middle-aged professor lecturing a room full of students about what makes a great empire fall. The year is 2030, and America has “fallen” as an empire. The Chinese professor goes on to explain that this
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Cosco Pacific Considers Trust After Hutchison Port Listing
Bloomberg
HPH Trust, the holder of terminals in Hong Kong and southern China, rose 0.5 percent to 97.5 US cents in Singapore, compared with its $1.01 IPO price. Container volumes across Cosco Pacific’s terminal operations rose 19 percent to 48.5 million 20-foot
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Schumer urges commerce secretary not to let China flood the market with cheap
WCAX
AP – March 23, 2011 3:05 AM ET SYRACUSE, NY (AP) – An upstate New York company that makes church candles is worried about cheap candles from China flooding the US market. On Tuesday, Sen. Charles Schumer visited the Cathedral Candle Company in Syracuse
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Unintended consequences of US environmental protection laws
San Diego News Room
India and China have been getting more polluted in the last 30 years, as more and more US manufacturing companies have outsourced to these countries. Four cities in India and six cities in China are listed in the “Dirty 30” list of the worst polluted
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