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U.S. China News 2011.04.18

Mon, April 18, 2011

Bovespa Stock Index Drops on Outlook for US Rating, Tightening in China
Bloomberg
“Standard & Poor’s decision about the US rating joined OGX’s plunge here in Brazil and brought the stock market down,” said Alvaro Bandeira, director of Rio de Janeiro-based brokerage Ativa Corretora. “There was also China’s increase in banks’ reserve
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Senior US senators launch week-long China trip
AFP
HONG KONG — Top US Senator Harry Reid and nine fellow lawmakers arrived in Hong Kong Monday to open a week-long visit to China focused on economic issues and human rights, his office said in a statement. “During meetings with Chinese officials,
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China and America
The Cutting Edge
Heritage Foundation China and economic expert Derek Scissors, explains why it is vital that the US remember its strengths and recognize profound Chinese weaknesses. There is increasingly loud talk of China surpassing America in raw economic size within
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China Leads US in Cyber Spying
AllGov
In the war against cyber-spying, the United States is losing out to China, according to experts in the field and previously undisclosed government documents. Chinese hackers have stolen terabytes (trillions of bytes) of sensitive data ranging from
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Sources of cheap labor? China, India, America
Plain Dealer (blog)
By Other Voices It was with horror that I read Wednesday’s article about Ikea (“Ikea’s first factory in US producing unhappy workers,” Business). It is clear that Sweden is shopping our country for cheap labor, just as we shop India and China for ours.
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Deadly Tornadoes Hit US, China Suffers from Hail Storms
Arirang News
Meanwhile in China, hail storms and heavy winds left at least 18 people dead and over 1-hundred-50 injured in China’s southern province of Guangdong. The hail stones were the size of an egg and winds were as strong as 1-hundred-64 kilometers per hour
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China Pares Holdings Of U.S. Treasury Bonds For 4th Month
CapitalVue
April 18 — China cut its holdings of US treasury bonds by $600 million to $1.1541 trillion, reports Beijing Times, citing the US Department of Treasury. This was the fourth straight month that China pared its holdings of US treasury bonds though it
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The United States falls behind Germany in renewable energy investment
GlobalPost
Experts say uncertainty in the US scares green investors away, unlike in China and Germany. Cranes stand next to a row of wind turbine masts under construction on Aug. 20, 2010 near Linthe, Germany. (Andreas Rentz/Getty Images) BERLIN,
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US court turns away new appeal from Uighurs
The Associated Press
The US has agreed for years that the Uighurs are not enemy combatants. China wants the Uighurs sent home, but they argue — and the administration agrees — that they could be tortured if they are sent to China. The US has undertaken extensive
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Bovespa Index Tumbles on US Credit Outlook, China Tightening
BusinessWeek
Standard & Poor’s said that more than two years after the beginning of the recent financial crisis, US policymakers have not agreed on a strategy to reverse recent fiscal deterioration or address longer-term fiscal pressures. China increased banks’
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Molycorp acquires US subsidiary of Japanese firm
San Jose Mercury News
found in electric and hybrid cars, advanced wind turbines, high-tech electronics and other applications, without depending on rare earth metals from China. Santoku America will use rare-earth feedstocks from Molycorp’s mine in Mountain Pass, Calif.
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Elected Officials in Seattle to Facilitate Economic Relationships Between
PR Newswire (press release)
senior business executives, economic officials and Chinese mayors and executives in facilitating economic relationships between China and the US in order to bring international businesses to US cities and expand foreign trade relationships.
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China’s soaring inflation could affect US
Trade Only Today
As the United States and Europe struggle to get their economies rolling, China is having the opposite problem – keeping its revved-up economic growth engine from generating runaway inflation. The latest sign that things were moving too fast came during
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News Hub: Pecan Power: China Wants US’s Nuts
MarketWatch
Prices of pecans have nearly doubled over the past three years, thanks to increased demand from China. WSJ’s David Wessel looks into what is driving China’s strong interest in pecans, of which the US grows about two-thirds of the world’s market.
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Sustainable consumption on the fringe in China: study
Reuters
“The vast majority of China’s middle class are for the first time learning how to spend and join the consumption phenomenon that their counterparts in the US and Western Europe have long enjoyed,” he told Reuters in an email.
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Boehner in Pakistan, Reid in China during break for Congress
USA Today
Senate Majority Leader Harry Reid, D-Nev., is leading a bipartisan delegation in China, where 10 senators will meet with government officials, check out US investments and clean energy projects. The Democratic Policy and Communications Center announced
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digits: Another USChina Tech Tangle
MarketWatch
Despite an agreement between President Obama and President Hu in January, US technology companies are again complaining about how China awards contracts. WSJ’s John Bussey explains on digits.
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US closely monitors China’s clampdown of Kirti Monastery
TruthDive
The issue has been raised with China, he said. In a statement to the Chinese authorities, Kirti Rinpoche, who is based in exile in Dharamsala, India, said today: “Armed troops in conjunction with government officials are currently enforcing a brutal
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China combats real estate run up
Washington Post
The close relationship of those two currencies means that policies that stimulate economic activity in the US could turbocharge economic growth in China. Efforts by the US Federal Reserve to invigorate the anemic US recovery through an ambitious
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How ‘The Donald’ could incite a trade war
CNN
China has become the No. 3 market for US exporters, with sales jumping 31% from the previous year. And that doesn’t even count the goods being made in China by US companies. General Motors sells more cars in China today than it does in the United
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America’s Banker May Tell Geithner to Go Away: William Pesek
BusinessWeek
Holding $1.2 trillion of US debt is a fast-growing risk to China. Traders have a theory about why the euro is reasonably stable amid a broadening debt crisis: Asian central banks are converting proceeds from recent intervention moves into other
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United States, Canada, China and New Zealand Teams Reign Supreme at the VEX
Business Wire (press release)
as winning alliances from the Middle School, High School and College competitions triumphed from United States, Canada, China and New Zealand, after outmaneuvering some of the world’s best teams during the intense three-day tournament which took
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US STOCKS-Wall St falls on US outlook, global economy
Reuters
By Rodrigo Campos NEW YORK, April 18 (Reuters) – The US stock market tumbled in heavy volume on Monday as Standard & Poor’s downgraded the credit outlook of the United States, adding to worries about the global economy after China moved to curb
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Wall Street slides, Nasdaq falls 2 per cent
Economic Times
NEW YORK: US stocks slid on Monday, with the Nasdaq falling 2 percent, after ratings agency Standard & Poor’s cut its long-term outlook on the United States and another step by China to stem growth reignited worries about the global economy.
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China’s hot Facebook clone will cool down
Economic Times
And even without competition from its giant US role model, it isn’t yet dominant. The likes of the smaller but growing Sina Weibo and the upscale, if fading, Kaixin001.com still hope to become China’s default social network.
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US needs economic blueprint to bring back jobs: Indra Nooyi
Hindu Business Line
PTI PepsiCo Chief, Ms Indra Nooyi, has said that the United States should follow the example of China, which follows a multi-generation blue print to steer its industrial development. Ms Nooyi was speaking about the need to reindustrialise the US
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CORRECT: US Stock Futures Tumble On S&P Revision of US Outlook
Wall Street Journal
The correct version follows:) By Brendan Conway Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)–US stock futures fell sharply Monday after Standard & Poor’s cut its outlook on the US government, warning that the US fiscal profile may become “meaningfully
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A Century of Unique Friendship between Republic of China and the United States
US-China Institute
Vice Foreign Minister Shen will reflect on the century-long relationship between the Republic of China and the United States and address the future prospects and challenges of this relationship at Stanford University. In this special event,
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What a cyberwar with China might look like
Computerworld
That’s a hypothetical scenario of how a full-scale cyberwar launched against the US by China might play out, and it’s very different from conventional wisdom. The scenario is described in a report by Christopher Bronk, a former US diplomat and an IT
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US STOCKS-Wall St set to open lower on global jitters
Reuters Africa
By Chuck Mikolajczak NEW YORK, April 18 (Reuters) – US stocks were poised for a lower open on Monday after China took another step to stem the growth of its economy and worries persisted Greece may need to restructure its debt.
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GM aims to double China sales by 2015
AFP
SHANGHAI — General Motors said Monday it aims to more than double the number of cars it sells in China by 2015 as it unveiled its first car model branded specifically for the world’s top auto market. GM China Group President Kevin Wale said the US
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Canon Says Ninestar Agrees to Halt Knockoff Printer-Refill Sales
Bloomberg
Canon filed complaints last year at the US International Trade Commission against 20 companies in China, Hong Kong and the US, claiming infringement of patents related to the rotating drums inside toner cartridges. The products can be used in Canon and
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AIG Taiwan unit won’t go back on market if deal blocked
Reuters
NEW YORK (Reuters) – US stocks tumbled on Monday as Standard & Poor’s downgraded the credit outlook of the United States, adding to worries about the global economy after China curbed liquidity. WASHINGTON (Reuters) – Still haven’t finished that tax
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Oil prices drop, dollar rises
The Associated Press
NEW YORK (AP) — Oil slipped more than 2 percent Monday after Standard & Poor’s lowered its long-term outlook for US debt, raising concerns about the economy and expectations of cuts in government spending. Another move by China to slow its booming
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GM shows off its new super-cheap car for China
USA Today
By Chris Woodyard, USA TODAY If you’re wondering what General Motors is up to China, here’s a fresh example. It’s the new Baojun 630 sedan, which debuted last week at the Shanghai auto show. Apparently, the midsize Baojun 630 has one truly appealing
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China Backing Away From Soybean Purchases
Daily Markets
With the current tight Soybean ending stocks and the potential for reduced Soybean acreage, US yields will have to be superb in order to replenish inventories. This scenario could set the stage for sharply higher Soybean prices should it appear that US
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US Commodities Day Ahead: Cooking-Oil Stocks Head for 1974 Low
Bloomberg
The US, China and five other large economies will face deeper scrutiny from their peers to ensure their policies don’t derail a global expansion that finance chiefs bet is strong enough to absorb recent shocks. China increased banks’ reserve
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China Lodging Group, Limited Schedules First Quarter of 2011 Earnings Release
PR Newswire (press release)
To participate in the event by telephone, please dial +1 (866) 405 2350 (for callers in the US), +86 10 800 361 0157 (for callers in China Mainland), +852 2561 8854 (for callers in Hong Kong) or +65 6723 9388 (for callers outside of the US, China
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Stock ETFs Slump After S&P Downgrades US Debt Outlook
ETF Trends
S&P says it sees a 1-in-3 likelihood “that we could lower our long-term rating on the US within two years,” according to WSJ MarketBeat. Equities were lower after Monday after China again raised reserve requirements for banks.
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Fuel Prices Will be Tipping Point for U.S. Electric Vehicle Consideration
PR Newswire (press release)
The Deloitte survey reveals that consumer expectations, when combined in China, United States, Europe and Japan for EV range, is two to three times (200 to 300 miles) the current market offerings (100 miles) from major automotive manufacturers.
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Opinion: Is America in decline?
Associated Baptist Press
China is following suit. In 2009, Chinese vessels harassed US ships on five separate occasions. Last July, a Chinese military spokesman asserted that his country had “indisputable sovereignty” over the South China Sea.
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iPads Said Smuggled from UK (Back) to China
PCWorld
A report in this weekend’s Sunday Times (subscription required) said that tourists had been queuing up to buy the iPad 2, then taking it back to China, were the device is not officially for sale. The £399 (US$650) device can apparently sell for up to
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2012 VW Beetle bigger, ditches ‘girl’s car’ image, aims at global sales
USA Today
The car comes to the US in September or October, VW said in New York as it unveiled the re-do about an hour after it showed the car at the Shanghai auto show in China. VW expects China, Europe, Mexico and the US to be the main markets to start,
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ChinaMart® Los Angeles Successfully Places Jewelry and Lamp Products into
Insurance News Net (press release)
Many of the Chinese companies needs are solved by ChinaMart’s Global trade platform for conducting business in the USA . For those companies already selling to the US market, China Mart® can help them enter the big box retailers directly instead of
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‘Made in America’: Annin Co. Is the Oldest, Largest Flagmaker in the World
ABC News
Beneath the image on the box, it read “Made In China.” We’ve received so many emails and tweets from viewers. One of those emails came from Steve in Clearwater, Fla., who wrote us: “Annin is the oldest and largest flagmaker in the world.
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The State’s Money Trees
MorungExpress
Moreover, the exploitative nature of this paradigm will remain intact regardless of the outcomes of China/US squabbles. Where the banking complex of the state allows favored corporations to, in the words of Murray Rothbard, “expand and inflate without
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