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U.S. China News 2011.03.25

Fri, March 25, 2011

US Corn-Export Sale, Sixth-Biggest Ever, May Be for China
China bought 116000 tons of US wheat in the week ended March 17, the most for any week since a purchase of 128005 tons in July 2005, the USDA said in a report yesterday. The last time China bought US wheat was 651 tons during the week ended Sept. 30.
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USChina credit card dispute goes to WTO court
Economic Times
GENEVA: The World Trade Organisation (WTO) on Friday referred to its court system a dispute between China and the United States over the way credit card payments are processed in China. The issue now goes before a panel of the WTO’s Dispute Settlement
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US foreign aid faces cuts as China’s reach grows
The Associated Press
Brautigam estimates that in 2009, China’s official aid to Africa was about $1.4 billion — compared with $7.2 billion from the US But China also provides about $6 billion annually in export credits and commercial loans in Africa, while its state and
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US China Mining Group, Inc. to Host Fourth Quarter and Year End 2010 Earnings
Sacramento Bee
To listen, please call +1-877-870-5176 within the United States or +1-858-384-5517 when calling internationally. Utilize the pass code 4428138 for the replay. US China Mining Group is a company engaged in coal production and sales by exploring,
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World Bank says China’s economy may bypass the US by 2030
The Voice of Russia
China may overtake the US as the world’s largest economy by 2030, World Bank experts reported, adding that China has the potential to achieve 8 percent annual growth. Meanwhile, the US remains the world’s leading economy with the GDP rate at $14.5
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U.S. business self-censors to keep China satisfied
San Francisco Chronicle
Because movie executives worry that a film involving a negative message about China “would harm their ability to do business” with a nation that is among the “most lucrative markets for American movies.” The studio suits are right to be concerned.
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China Overtakes US as Number One Art Market
For the first time in the auction world, China last year topped the United States and the United Kingdom as the biggest seller of art. Chinese public auctions in 2010 accounted for 33% of worldwide global fine art sales (everything from paintings to
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US auto sales favors rubber, bad news from China-Japan
Commodity Online
more than 8900 retail franchisees throughout the United States. Automobile industry is a major consumer of rubber in the making of its tyres and hence it gives firm support to natural rubber prices globally. However, automobile sector in both China
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‘Til Death Do Us Part’ tackles AIDS in rural China
“Til Death Do Us Part” will be released in China on May 10. A companion documentary had its Asian premiere at the Hong Kong International Film Festival on Monday. In “Together,” Chinese filmmaker Zhao Liang recorded the difficulties of finding AIDS
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Obama’s Trip Through South America Fails to Impress as Brazil Looks to China
“For many South Americans, the United States is no longer the only game in town,” reads an editorial in the Economist. It refers to China which has secured at least $65 billion in deals throughout Latin America since 2010.
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Coal Producer US China Mining Group, Inc. to release year end 2010 financial
Coal Geology
US China Mining Group is a company engaged in coal production and sales by exploring, assembling, assessing, permitting, developing and mining coal properties in the People’s Republic of China (“PRC”). After obtaining permits from the Heilongjiang
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China Yuan Edges Up To Record High Late On Dollar/Yuan Fixing
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan edged up to a record high against the US dollar under the current system late Friday, after the central bank set a record-low dollar/yuan central parity rate for the third time this week. On the over-the-counter
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US keeps duties on China’s pipe fittings
China has repeatedly voiced its opposition to the abuse of trade remedies and stressed that such discriminative measures are hazardous to the development of ChinaUS trade. The United States, the Chinese Commerce Ministry has stressed, should get rid
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Seated? Dana Rohrabacher Gets One Right!
OC Weekly (blog)
25 2011 @ 9:45AM This week in Washington, Rohrabacher and other Republican politicians questioned planned US aid to China. What does the Obama administration want to do with American taxpayer funds? Through the US Agency for International Development,
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China charges VAT on imported food, but not domestic food
Ideal Taxes Association
As part of its mercantilist strategy of maximizing exports and minimize imports in order to grow at its trading partners’ expense, China keeps out US imports. Its bilateral trade surplus with the United States has grown consistently throughout the
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China’s Central Bank Sees European Debt Crisis Threat to Global Recovery
Concerns about European government debt and geopolitical risks may provide support to a “relatively weak” US dollar this year, the People’s Bank of China said in an outlook on international financial markets posted on its website today.
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At a hearing before the IJ in Newark, New Jersey, Wu testified that he has a wife and child, both of whom remain in China. Wu and his wife would like to have more children. Wu believes that if they have a second child in China, “one of us will be taken
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China and Russia criticise Libyan bombing campaign
World Socialist Web Site
However, the US-European bombing campaign dashed China’s prospects of expanding its already substantial interests in Libya. In 2009, China displaced the US as Africa’s top trading partner, and became a significant investor in mineral resources,
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Introducing the new “Red Menace”: Debt
The fact that China (and it’s leaders) own so much US debt is the MAIN REASON that they are no threat to us. Why would they ever want to attack their golden goose? There will never be war between China and the US as long as China’s elite owe their
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North American Rare Earth Explorers Poised for Growth
Marketwire (press release)
The United States and Canada are making efforts to begin producing rare earths as there are currently no separation facilities for the all-important “heavy” rare earths outside of China. Canada-based, Rare Element Resources has a 100% interest in the
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Buffet-Backed BYD Finally Bringing EVs to the US?
Fast Company
When it arrives in the US, the electric bus will likely be manufactured in Los Angeles (the future home of BYD’s headquarters here), with batteries shipped from BYD’s factories in China. LA plans to test the buses in its city fleet, and BYD expects
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U.S. Approval Highest Among Global Leaders
RTT News
The poll of people in more than 100 countries found that 47 percent approved of US leadership, putting it ahead of China, Russia, Japan, France, the United Kingdom, and Germany. Germany got the second highest approval rating at 40 percent,
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How We Spend Money: In China, India, Russia, Egypt, Brazil and the US
The Atlantic
Consumer spending maps tell us more than how we spend. They reveal the DNA of an economy. The following graphs compare how US consumers spend money versus Egypt and members of the fast-charging “BRIC” group — Brazil, Russia, India and China.
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South Africans upbeat about China: BBC survey
Times LIVE
Overall, more than one-third of those polled (35%) rated China’s trade practices as unfair, compared to 28 per cent who rated US trade practices as unfair and just one in five (20%) who felt EU trade practices are unfair.
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Cliffs sees strong demand from Asia
N) said on Thursday that it is shifting its focus away from North America as it sees strong demand for iron ore from China and other Asian markets. The company, which recently bought Canada’s Consolidated Thompson (CLM.TO), expects to ship around 31
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Group urges US not to implement WTO loss to China
Reuters Africa
By Doug Palmer WASHINGTON, March 24 (Reuters) – The United States should refuse to implement a World Trade Organization ruling that would weaken its ability to use countervailing duty laws against subsidized goods from China, a coalition of labor and
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Facebook detour through China – Accident or not?
CNET (blog)
China is notorious for its efforts at censoring the Internet, and free speech activists worry about the government being able to snoop on citizens’ Internet communications, although what officials there would want with US citizens’ traffic is anyone’s
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China Web Censorship Stirs Scorn, Support
In 2010, China’s Internet penetration was at 31 percent compared to 77 percent of the US, according to Internet World Stats. In China’s capital of Beijing, where the Internet penetration rate is 69.4 percent, some residents say they rarely visit the
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Selling technology to China’s fragmented manufacturing industry
International Business Times
By Hao Li | March 25, 2011 6:30 PM GMT The US mobile devices market is dominated by a few models. The total number of available phones to average customers at any given time is about 100. In China, there are about 2000 phones available at any given
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Senator Barnes lobbies for China, Russia inclusion to ESTA program
Visa Bureau
Senator Tina Rose Muña Barnes, who chairs the Guam Legislature’s Committee on Tourism, urged Governor Calvo and Congresswoman Bordallo to continue to pursue the addition of China and Russia in the US Visa Waiver program for Guam.
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‘Birthing tourism’ center in San Gabriel shut down
Los Angeles Times
Pregnant women came from China to three identical townhouses to receive care before and after giving birth to US citizens at local hospitals. A diapers box lies outside one of three townhouses in San Gabriel that operated as an unlicensed birthing
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Disasters Driving Japan Auto Parts Makers to China
Seeking Alpha
Among the Big Three US carmakers, General Motors Company (GM) has the strongest presence in China. In 2010, GM enjoyed 29% growth, selling a total of 2.4 million vehicles in China – more than twice Toyota’s total. GM has even greater ambitions going
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Krugman Is Wrong: The United States Could Not End Up Like Greece
The Business Insider
The deficit hawks warn us of a plunging dollar as part of their nightmare scenario. In fact, if we ever want to get more balanced trade and stop the borrowing from China that the deficit hawks complain about, then we need the dollar to fall.
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The US, Libya and Oil
In addition the Malacca Straits between Sumatra and the Malay Peninsula is the major transit point for oil going to China. The US Seventh Fleet controls that choke point. China’s nervousness over its sea-based oil supplies is one of the major reasons
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On This Day in Aviation History: March 25th
2009, the September 2007 approval by the US Department of Transportation for American Airlines, Northwest Airlines, Continental Airlines, Delta Air Lines, and US Airways to begin service between and Beijing, China, or Shanghai, China, goes into effect.
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First China Pharma Announces $3 Million Capital Raise
Marketwire (press release)
KUNMING, CHINA–(Marketwire – March 25, 2011) – First China Pharmaceutical Group, Inc. ( OTCBB : FCPG) (“First China” or the “Company”) is pleased to announce that a US$3000000 capital financing is well under way with US$2.7 million recently closed.
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China Nuokang Bio-Pharmaceutical Inc. Announces $5 Million Share Repurchase (press release)
under the heading “Risk Factors” in the Company’s filings with the US Securities and Exchange Commission, including its annual report on Form 20-F. CONTACT: ICR, LLC In the US: Ashley M. Ammon 1-646-277-1227 In China: Wen Lei Zheng 86-10-6583-7510.
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China To Extend Venezuela Another $4 Billion Loan In Joint Fund
China’s strengthening ties with Venezuela are part of the Asian country’s rapidly rising profile in Latin America. China has eclipsed the US in trade with Brazil, Argentina, and Chile, and is Venezuela’s second-most important trade partner.
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China’s search for clean fuel leads to W.Va. univ.
The project is being funded by the US Department of Energy and using equipment donated by a Chinese energy business enterprise called Lu’an Group. Officials with WVU’s USChina Energy Center say China is planning to use coal-to-liquids technology to
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China PBOC: See Risk Of “Competitive Devaluation” By Developed Countries
Wall Street Journal
At the same time, there are still relatively large risks of inflation and asset bubbles in emerging markets, the People’s Bank of China’s Shanghai headquarters said in its annual report on international financial markets. The US dollar is likely to
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Guilty plea expected in China ‘spy’ case
Prosecutors allege Yang, who became a US citizen in 1999, offered to buy five radiation-hardened computer chips used in satellites and intended to personally smuggle them to China. On the day of his arrest, he was prepared to pay $20000 for the
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Ex-Army analyst pleads guilty to theft count
Bradenton Herald
By TIM TALLEY – AP A former US Army analyst who tried to board a flight to China with electronic files containing restricted Army documents pleaded guilty Thursday to theft of government property in a case the defense insisted was about carelessness,
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Japanese earthquake impacts Canada, US tourism
Toronto Star
That total put the Japanese fourth on the list of international visitors to Vancouver, trailing travellers from the US (1.9 million), the UK (187000) and Australia (139000); China (106000) was fifth. “The numbers from that market started coming back a
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Pa. exports up 22.5% in 2010
Pennsylvania exports to China jumped 73 percent last year over 2009 levels, ranking China second on a list of export destinations, according to the latest data released by the US Commercial Service. Pennsylvania sent $2.7 billion worth of goods to
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