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U.S. China News 2011.04.15

Fri, April 15, 2011

China Sells US Treasurys For Fourth Straight Month
Wall Street Journal
By Jeff Bater and Andrew Ackerman Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)–China reduced its net holdings of US Treasurys a fourth month in a row during February but remained the largest foreign holder, the Treasury Department said Friday.
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Google, Bank of America, China data
MarketWatch
By MarketWatch US stock futures declined before the opening bell, but pared losses after the release of consumer-price data and a New York manufacturing gauge. Investors were also digesting inflation and growth data from China, while shares of Google
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NYMEX-US crude slips on China data, eyes Mideast
Reuters
NEW YORK, April 15 (Reuters) – US crude futures slipped on Friday, while Brent crude seesawed, as concerns about inflation and easing demand growth in China limited oil prices even as investors remained wary about supply as Libya’s conflict and Middle
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Amid crackdown, U.S. groups strive to improve China’s legal system
USA Today
He hopes a resumption of the stalled USChina Legal Experts Dialogue could help. Just getting together to talk law has proved complex for US officials. Despite a joint presidential promise in November 2009, repeated in January 2011, the legal experts
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Customs: Fake US licenses being sent from China
BusinessWeek
Customs officials at Chicago’s O’Hare International Airport have seized more than 1700 high-quality counterfeit US driver’s licenses this year that were sent from China, federal authorities said Thursday. Most of the counterfeit licenses were addressed
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Reserve Bank boss sounds a warning
The Australian
And that’s because Australia’s economic prospects have been transformed more than any other country’s by China’s rapid development. The China story saved us from the global recession emanating from the New York-sourced financial crisis and continues to
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DuPont gets China’s OK for $5.9 billion Danisco bid
Reuters
CO), the US chemicals giant said. Clearance by China, where several of Danisco’s assets are located, was the last major regulatory hurdle after US and European Union regulators approved the friendly takeover, announced in January.
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China’s Growing Presence in Latin America
CounterPunch
Then in the 20th century the United States took Europe’s place as main importer of these commodities. Now in the 21st century, China is fast overtaking and displacing both the United States and Europe in Latin American trade.
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Editorial: China migrants changing us for the better
New Zealand Herald
Since then many have come from China, initially from Hong Kong when Britain was preparing to relinquish its colony in 1997 and Taiwan, and more recently from mainland China after a relaxation of its travel restrictions in 1999.
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INTERVIEW – China’s Huawei still looking to US for acquisitions
Reuters India
By Lee Chyen Yee and Huang Yuntao HONG KONG (Reuters) – China’s top telecommunications equipment maker Huawei Technologies Co Ltd remains keen on US acquisitions even after its failed 3Leaf deal, and sees the United States as a key market for
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Understanding US Policy on China-Pakistan Nuclear Deal
World Politics Review
It has supplied arms to Taiwan and has stood firmly behind Japan and Vietnam on their territorial disputes with China. And despite innumerable warnings issued by China, the US has continued conducting naval exercises in and around the South China Sea
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US criticises China for using force against Tibetan monastery
MSN India
Washington, Apr 15 (PTI) Criticising China after violent incidents at a Buddhist monastery in Tibet, US has said the Chinese authorities” action is against the internationally recognised principles of religious freedom. “We have seen that Chinese
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Canada Dollar Declines on Concern China May Take Steps to Curb Inflation
Bloomberg
Canada’s currency pared losses against the US dollar as crude prices rose. “The strength of the Chinese data has ramped up expectations of further tightening in China, which could be bad for growth and the commodity space,” said Jeremy Stretch,
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Commodities Watch: Fertilizer, Food Prices Could be Spiraling; US Drought
24/7 Wall St. (blog)
Today’s commodities report focuses on rising costs for fertilizer and food, the drought in the US southwest, and reports that China is re-selling some of its coal imports. Earlier today we noted the outlook for some fertilizer makers following the
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Tongli Pharmaceuticals (USA) Inc. Appoints New Independent Director
PR Newswire (press release)
Stephen J. Sax brings nearly 40 years of US corporate and securities compliance experience to Tongli’s board HARBIN, China, April 15, 2011 /PRNewswire/ — Tongli Pharmaceuticals (USA) Inc. (OTCBB/OTCQB:TGLP) today announced the appointment of Stephen
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China bravely challenges USA’s predominance
Pravda
This week, China has demonstrated its growing power to the world twice. First off, China accused the USA of the appalling state of affairs in the field of human rights. Secondly, the country strongly refused form the suggestion of BRICS countries
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Wacky minds behind Taiwan’s viral videos
msnbc.com
Spots like the now-infamous retelling of the Tiger Woods car accident, the rap battle on the USChina currency dispute, and air passenger rage over the US Transportation Security Authority’s enhanced airport checks. This week alone, NBC News got some
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China to overtake US as top energy consumer
Commodity Online
However, China’s per capita energy consumption is far lower than that of the US. China’s National Bureau of Statistics unveiled preliminary data in February, showing that the nation’s total energy consumption in 2010 was 3.25 billion tons of
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America Outmatches China Economically (For Now)
Heritage.org (blog)
China announced its economic results for the first quarter this morning. GDP was said to grow a strong 9.7 percent, while consumer inflation reached a worrisome 5 percent. The PRC is much poorer than the US, and its economic problems are considerable.
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Treasuries, Yen Climb on Rate-Rise Speculation; US Futures Erase Losses
Bloomberg
China may increase measures to tame inflation after consumer prices climbed 5.4 percent in March, the fastest pace since 2008, Bank of America-Merrill Lynch and HSBC Holdings Plc said today. Reports today showed wholesale prices in India and consumer
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Does Asia want US influence, to counter China?
Radio Australia
The Pentagon says America’s Asian allies want the US to expand its influence in the region, to counter-balance China’s growing military muscle. The head of the US Pacific Command, Admiral Robert Willard, told US Senators this was especially so,
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EU Praises Chinese Action on Climate, Blames US for Blocking Global Deal
Bloomberg
Japan and Russia argued at the UN’s last round of treaty negotiations in Cancun, Mexico, that taking on new emissions reduction goals under the 1997 Kyoto deal would be pointless if the two biggest emitters, the US and China, don’t have binding targets
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G20 weigh name-and-shame list for risky economies
AFP
WASHINGTON — China, the United States and other leading economies are expected to be listed by the G20 for dangerous economic imbalances on Friday, but whether they will be publicly “named and shamed” remains unsettled. The Group of 20 leading
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ICBC Files Fed Application to Buy Bank of East Asia U.S. Unit
NASDAQ
By Chana R. Schoenberger, Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Industrial and Commercial Bank of China Ltd. (ICBAF, 1398.HK) filed an application this week with the Federal Reserve Bank of New York to buy 80% of the Bank of East Asia’s US unit
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China`s Buy-Taiwan Group to Buy US$5.5B. Worth of Flat Panels in June
The Taiwan Economic News
Taipei, April 15, 2011 (CENS)–A buy-Taiwan group from China led by Bai Weimin, deputy director of China Video Industry Association, is expected to arrive in Taiwan in June to purchase US$5.5 billion or about NT$165 billion of 30-plus million flat
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Stocks Set For Lower Open On Global Economic Concerns, China Inflation
RTT News
(RTTNews) – US stock futures point to a lower open Friday following modest gains in the previous session, on global economic concerns. Increasing speculation that better than expected first quarter GDP numbers and rising inflation in China could lead
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China’s yuan sets new high against US dollar Friday
Global Times
The central parity rate of the RMB Friday stood at 6.5301 per US dollar. On the previous trading day, the yuan was set at 6.5339 per US dollar. On China’s foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate
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China’s Train to Nowhere
Moneyshow.com
The graft and corruption plaguing China’s railway system are not what worry me—it’s the misallocation of capital. China may not unseat the US as the world’s largest economy as soon as expected. China’s economy will catch and then surge ahead of the US
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China’s Latest Export: Capital for Cleantech Start-ups
CleanTechnica
On a much smaller scale, OnGreen’s own Series A investment came out of Shanghai, and, we are working with the Joint US China Collaboration on Clean Energy (JUCCCE) and the University of Michigan and The Erb Institute to explore the best model for
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US Dollar – Review and Outlook
Jutia Group
While many international central banks have been on a tightening path, raising rates (ie central banks of: Australia, Brazil, Canada, China, India, Norway, Sweden, to name but a few), the US Federal Reserve (Fed) has been conspicuous in its continued
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29 people, representing 18 countries, become US citizens in Fergus Falls ceremony
Daily Journal
Twenty-nine people from 18 counties are brand new US citizens after taking the Oath of Allegiance in Fergus Falls. A naturalization ceremony Thursday at the federal courthouse included immigrants from Afghanistan, Argentina, Bosnia, China,
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US producer prices rose 0.7% in March
FXstreet.com
Risk appetite was slightly dented by Eurozone peripheral concerns, a surprise rise in US jobless claims, and renewed China tightening concerns. The Greek 10yr government bond yield rose 35bp to 13.27% – a new high – after the German finance minister
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Mixed News Flow May Create Some Uncertainty
RTT News
(RTTNews) – The major US index futures are pointing to a lower opening on Friday, with sentiment likely to cautious amid the release of some lackluster earnings reports. On the global economic front, China reported an uptick in inflation and the euro
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Ambassador: US hasn’t caused Brazil’s inflation
Chicago Tribune
Although the so-called BRIC countries of Brazil, Russia, India, China and South Africa called on the US today to be cautious about policies stoking inflation in developing countries, Brazil’s Ambassador to the United States Mauro Vieira said his
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Report: Huntsman calls Obama ‘remarkable leader’
Salt Lake Tribune
By Thomas Burr Washington » President Barack Obama has offered kind words about the service of US ambassador to China and potential presidential opponent Jon Huntsman Jr. — and it appears Huntsman has showered Obama with praise in return.
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Zimbabwe: Tobacco Rakes in US$220 Million
AllAfrica.com
China was also the main purchaser of local tobacco, which last year earned the country over US$300 million. Official statistics show that last year, Zimbabwe’s trade with China was worth US$520 million. Other exports went to South Africa,
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Best Buy Saying Right Things, but Long-Term Plans Not Enough to Counteract
Toronto Star
Plans to reduce US big-box store square footage 10%, increase online sales, and emphasize Best Buy Mobile small-format stores in the United States and Five Star stores in China strike us as prudent, but we think it will take much more to curb market
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Global stocks drop ahead of US inflation news
BusinessWeek
The European Central Bank has already joined the People’s Bank of China in lifting rates to combat inflation and the fear in the markets is that the US Federal Reserve will end up tightening policy sooner than anticipated.
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Investors Heading Back Into Big Emerging Markets
Forbes (blog)
Semple thinks some of the inflation fears may be “slightly exaggerated” partly because food commodities are a much bigger part of China’s core inflation figures than they are in the US. Food inflation accounts for nearly 30% of China’s benchmark
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Soybeans Fall as Rising Interest Rates May Curb US Exports; Corn Steady
Bloomberg
The leaders of Brazil, Russia, India, China and South Africa said excessively volatile commodities pose a threat to the global economy. Corn prices have more than doubled in the past year, and soybeans rose 37 percent.
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US overall net capital inflows triple in February
Reuters
China, the largest foreign US creditor, saw its holdings of Treasury debt slip slightly to $1.154 trillion from $1.155 trillion. China reported this week that its total foreign exchange reserves hit a record above $3 trillion.
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