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U.S. China News 2011.04.06

Wed, April 6, 2011

How China Is Setting Us up for Inflation and Failure
Wall Street Pit
In China, one-year deposits rates are 3.25%. In the US, a one-year US Treasury pays 0.29%. Big difference. China is obsessed with keeping its inflation under control and has no fear of raising interest rates each time inflation moves higher.
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Chinese Billionaire Backs New USChina Drug Development Company
Forbes (blog)
Now the self-made billionaire is taking another gamble on a risky bet: he’s backing a specialty pharma company that will operate in both the US and China, aiming to draw on experience and drug licensing opportunities in the US and lower cost drug
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Brazil President Taking Two Business Missions to China, One American
Brazzil Magazine
Bilateral Brazil-China trade has been growing at over 45% per year, going from US$ 9 billion in 2004 to US$ 56 billion last year. And that has transformed China into Brazil’s biggest trade partner and made the Asian giant a leader in direct foreign
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Auto shows in US and China go head to head
The Independent
In an uncharacteristic quirk of the world’s auto show calendar, next month will see two major shows coincide – and it looks like China is set to be top trump yet again. The New York International Auto Show is the last major show of the North American
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US watchdog wants to see audits of China-based cos
Reuters
WASHINGTON, April 6 (Reuters) -The US auditing watchdog is working with securities regulators in order to inspect the audits of American public companies based in China, an area that is the focus of an ongoing probe by the Securities and Exchange
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US keeps Myanmar sanctions, worry at China arrests
AFP
SINGAPORE — The United States will maintain sanctions against Myanmar while attempting to engage its new leadership, and is concerned about China’s crackdown on dissidents, a senior US official said Wednesday. US Assistant Secretary for East Asian and
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An American Syndrome: China, Crude Oil and Debt Bubble (Guest Post)
Benzinga
Added together those illustrate the main driver of the seasonality of US imports from China, as in “Christmas”. Sub-section M4112 is interesting. Evidently in USA “shooting goods” (guns) are considered to be a “recreational” product like toys;
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China, Saudi Arabia Broaden Ties Under US Security Umbrella
World Politics Review
First, in the past, China saw the US as dominant in Saudi Arabia, limiting Beijing’s possible inroads. But rising Chinese oil demand and cooperation with Saudi Arabia in oil exploration and refining is changing this dynamic. This is just a harbinger of
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US Diplomat Sharply Criticizes China on Rights
New York Times
By DAVID BARBOZA SHANGHAI — The departing American ambassador to China, Jon M. Huntsman Jr., criticized this country’s human rights record on Wednesday in some of the sharpest public comments here yet by an United States official since the Chinese
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China Helps Keep US Corn Market All Bulled Up
The Business Insider
Any suspicion of a down day in corn today was quickly erased on new speculation that China will once again be a major buyer of US corn, possibly importing a far more corn than originally expected before farmers here at home can gain any traction on
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US vs. China: Renewable energy competition hits the WTO
International Centre for Trade and Sustainable Development
In response to a monstrous 5800 page submission by the United Steelworkers Union (USW) denouncing the alleged illegal support of China’s green energy market, the US initiated dispute proceedings at the WTO in late 2010. For the moment, the case is
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Copper demand seen surviving China rate hikes
Reuters
“Internationally we see a recovery in other markets not as significant as China,” he added. “In markets such as the US, we see a recovery there.” China’s rate hike underscores its determination to clamp down on inflation to keep the world’s fastest
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USChina relationship: A shift in perceptions of power
Los Angeles Times
One should be skeptical about dire projections of China’s rise and America’s decline. China still has a long way to go to catch up in military, economic and soft-power resources. US President Barack Obama and Chinese President Hu Jintao preside over a
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Potential WH candidate Jon Huntsman schedules NH trip
Boston Herald
By AP WASHINGTON — Further suggesting he is weighing a White House bid, US Ambassador to China Jon Huntsman will visit New Hampshire just weeks after he steps down from his posting in Beijing. Huntsman, the former Republican governor of Utah who
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China’s yuan advances to new high against US dollar Wednesday
People’s Daily Online
The Chinese currency Renminbi (RMB), or the yuan, on Wednesday gained 31 basis points, from last Friday to a record high of 6.5496 per US dollar. On China’s foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity
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Commodities: Brent closes above US$122, despite China interest rate hike
Industrial Fuels and Power
Oil prices were impacted by the perception that the commodity was looking over-bought, combined with China’s fourth interest rate hike since October. However, losses were kept to a minimum thanks to the news that the postponement of the Nigerian
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China to Drive World Oil Demand
ABC News
AP China trails only the US in oil consumption and is expected to drive world demand in coming years. According to the US Energy Information Administration, China’s growing energy appetites will account for about 40 percent of increased world demand
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US may compete with China
Biofuels Watch
Recently, China beat US as top country which has made renewable energy investment. Most of the industry experts expect that United States has been left behind in clean energy competition. TEPCO utility in Japan which controls the Fukushima plant used
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BIO Hosts US/China Biotechnology Examiner Workshop with USPTO & SIPO
ag-IP-news Agency
WASHINGTON, DC – The Biotechnology Industry Organization (BIO) announced in a press release that it hosted a US/China Biotechnology Examiner Workshop with US Patent and Trademark Office (USPTO) and China’s State Intellectual Property Office (SIPO) on
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Bob Dylan gets rapturous reception at China concert
Reuters
By Ben Blanchard BEIJING (Reuters) – Counter-culture hero and 1960s protest singer Bob Dylan got a rapturous welcome from fans on Wednesday at his first gig in China, despite agreeing to sing an approved set so as not to offend political sensitivities.
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A Crack in the Great Wall-mart
The Business Insider
During this time, multinational companies in search of the lower costs transferred hundreds of thousands of manufacturing jobs from the United States into China. Many accused Wal-mart of instigating the exportation of 200000 US jobs.
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US Soya Complex Slumps On Monetary Tightning In China
India Infoline.com
China is a source of agitation supporting those favoring the sell side of beans. China announced overnight that it was raising interest rates by 0.25 percent. This represents another attempt by the Chinese government to slow down inflationary pressures
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Global wind power grows 24 percent on China boost
Reuters
China’s wind market doubled every year between 2005 and 2009 in terms of total installed capacity, and it has been the world’s largest annual market since 2009. In 2010, China overtook the United States as the country with the most installed wind
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Huawei sees positives stemming from 3Leaf process
Reuters
SANTA CLARA, Calif., April 5 (Reuters) – China’s Huawei [HWT.UL] believes the regulatory tangles over its acquisition of server technology firm 3Leaf would ultimately improve its relations with US officials, an executive said on Tuesday.
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World Oil Prices Fall as Demand relaxes in US and China
Oil and Gas Industry Latest News
The price of oil on world commodity exchanges was falling Wednesday morning as consumption volumes in both the United States and China declined. The price of a May futures contract for WTI light sweet crude in electronic trading on Nymex was down 62
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US and China Clarify IIT Treatment for Each Other’s Academic Workers
China Briefing
Apr. 6 – The United States and Chinese academic workers who are eligible for a three-year-long individual income tax (IIT) exemption according to the ChinaUS double tax agreement (DTA) may now want to pay special attention to the newly-signed protocol
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China Sees the Evil of Plastic Bags
American Enterprise Institute
By Jonah Goldberg | USA Today Casting what he calls an “envious eye” on China, Friedman finds that country’s “one-party autocracy” so much more efficient, informed, and wise than our messy democratic way of doing things. “In China,” Friedman explained
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AMSC warns of Q4 loss as top customer refuses shipments
Reuters
By A. Ananthalakshmi and Divya Sharma (Reuters) – American Superconductor Corp, which makes electrical systems for wind farms, said it will post a loss in the fourth quarter, as a slowdown in China’s wind power market forced its top customer to refuse
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Recalls: Costco, T.J. Maxx, Marshalls, Burlington, Babies”R”Us, Toys”R”Us
OCRegister
The sleepers, made in China, were sold at Burlington Coat Factory, Babies”R”Us and other stores nationwide from September 1997 through December 2001 for about $160. For more info, go to CPSC. Infantino is recalling about 40500 Troy the Activity Trucks
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US commander says forces may rotate through Australia to boost presence in
Winnipeg Free Press
China’s assertive claims to disputed territories in the South China Sea have unsettled some Southeast Asian countries. Willard said the US had made a “concerted effort” in the past year to show its commitment to the region.
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Minmetals bids US$6.5b for Canadian Equinox
China.org.cn
By Yan Pei Minmetals Resources Limited, the Hong Kong-listed arm of China Minmetals Corporation, has launched a US$6.5 billion bid for Canadian mining company Equinox Minerals Limited. Minmetals Resources proposed to buy all outstanding common shares
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Can Eating Strawberries Prevent Cancer?
TIME
the incidence of the disease, especially in areas like central China where rates are high. “This shows us that strawberries may be an alternative or work together with other chemopreventive drugs in the prevention of esophageal cancer,” says Chen.
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China’s Shale Gas 12 Times Conventional Gas Reserves, EIA Says
BusinessWeek
By Dinakar Sethuraman April 6 (Bloomberg) — Deposits of natural gas from shale formations in China are 12 times higher than conventional gas reserves in the nation, according to the US Energy Department. Reserves from China’s shale rocks that are
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Emerging markets could roar again
USA Today
Searing growth usually means higher inflation, and inflation has been a problem in China. Prices grew at a 4.9% annual rate the 12 months ended February, vs. a 2.1% increase for the US during the same period. •Food. Food prices have jumped 11% the 12
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Chinese Oil Titan Breaks Into Wary U.S. Market With More Careful Approach
Neon Tommy
China is investing in oil and gas opportunities worldwide, the US is one of them,” Ershaghi said, also mentioning Africa and the Middle East. “In almost all cases, they have a partner.” Fu said that China and the US share a common threat in rising oil
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JING FENG DONG v. ATTORNEY GENERAL OF U.S.
Leagle.com
Dong, a native and citizen of China, entered the United States in 2002 and sought asylum based on grounds not relevant here. An Immigration Judge (IJ) denied relief, finding that Dong was not credible. The Board of Immigration Appeals (BIA) affirmed
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Baidu to launch licensed music service in May
Reuters
By Melanie Lee SHANGHAI (Reuters) – Baidu Inc, China’s top search engine, will launch a licensed music search service in May, in a move to legitimize its current music search that critics say enables music piracy. Baidu will launch Baidu Ting sometime
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Venture Capital Plays China Card
Bizjournals.com (blog)
China has gone its own way, with its own companies, in just about every Internet category imaginable. But that doesn’t mean US investors have been left out of the game. Kleiner Perkins Caufield & Byers, perhaps the most famous of the Sand Hill Road
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Freeport, Xstrata Position for Takeovers as China Drives Demand
Bloomberg
China may account for half global copper demand by 2020, according to Anglo American Plc. “If the opportunity came to us to do a large transaction we could execute on it,” Adkerson said, adding that the company’s focus is on internal expansion.
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Sen. John F. Kerry and Tom Donohue: Building a U.S. infrastructure bank
Chillicothe Constitution Tribune
In 2009, China spent an estimated $350 billion on infrastructure — 9 percent of its gross domestic product. Europe’s infrastructure bank financed $350 billion in projects across the continent from 2005 to 2009, modernizing seaports, expanding airports
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Guest Contribution: Misconceptions About Trade Agreements
Wall Street Journal (blog)
It is no coincidence that China — a country with which the United States does not have a free trade agreement — extensively uses highly discriminatory currency policies, technical standards, bidding requirements and other barriers to deny essential
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U.S. Stocks Give Up Part Of Early Gains
Investor’s Business Daily
On Tuesday, US stock indexes eased from highs after buzz about potential rate hikes in the US Meanwhile, China raised rates for the fourth time since October. And the European Central Bank is expected to raise interest rates a quarter point Thursday.
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The Collapse Of The US Dollar
CoinWeek
The rapid growth in the federal government debt over the past three years has scared former major purchasers of US Treasury debt into cutting back or eliminating future purchases. After the US Government, China holds the second largest amount of US
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hotels.com Hotel Price Index (HPI) Reveals Four Percent Increase in Asia Hotel
PR Newswire (press release)
Despite the economic recession, US travelers continue to frequent the Far East for leisure and business travel. With China’s room rates up 19 percent, the country continues to attract travelers with a majority of their cities seeing substantial
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