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U.S. China News 2011.04.21

Thu, April 21, 2011

Australia-US gas project signs China’s Sinopec
AFP
SYDNEY — Canberra Thursday welcomed a huge deal that will see an Australian-US joint venture supply clean-burning liquefied natural gas (LNG) to China’s Sinopec in one of Australia’s biggest ever LNG deals. Australia-Pacific LNG, a Aus$35 billion
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US Congressional Delegation Arrives in China
Voice of America
Photo: AP The largest-ever delegation of US senators to visit China has met with top leaders in the Chinese capital. Senate Majority Leader Harry Reid is leading the delegation, which includes nine other senators. The group met Thursday in Beijing with
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Lamborghini May Sell More Cars in China Than US in 2011
Automobile Magazine
The Chinese market’s insatiable appetite for new cars extends to Italian supercars, and Lamborghini is likely to sell more cars in China than in the US this year. Lamborghini CEO Stephan Winkelmann told Automotive News that, “I believe China will
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China’s leader-in-waiting gives departing Huntsman thumbs up
Reuters
US officials later said Huntsman accidentally came across the gathering, which was smothered by police security and spurred Beijing to take even tougher steps to rein in dissidents. China has welcomed US President Barack Obama’s nomination of Commerce
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Toyota Extends N. American, China Output Cuts to June
Bloomberg
Toyota will also shut US plants for one week starting May 30 and in Canada from May 23. In China, the utilization rate at factories will generally be 50 percent of normal levels and may fall as low as 30 percent from April 21 to June 3,
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Who’s ahead in cyber espionage war between US, China?
Defense Systems
By Kevin McCaney That China and the United States are engaged in cyber espionage isn’t exactly a secret, even if the details of the game aren’t usually public. But the pace has picked up in recent years and security experts say China may have taken the
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China sets U.S. dollar-yuan at a fresh record-low
MarketWatch
By V. Phani Kumar HONG KONG (MarketWatch) — China allowed the yuan to appreciate to another record high against the US dollar Thursday, setting the mid-point for the greenback’s trading range for the day at 6.5228 yuan, lower than Wednesday’s 6.5294
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China’s SAIC Keen to Sell Cars in US, NHTSA’s Strickland Says
Bloomberg
By Bloomberg News – Thu Apr 21 04:22:28 GMT 2011 SAIC Motor Corp., China’s largest domestic carmaker, is among “a number” of Chinese companies keen to sell their models in the US, the National Highway Traffic Safety Administration said.
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RPT-SPECIAL REPORT: China set to unearth shale power
Reuters
This is an American dream that China wants to emulate. “America’s shale gas production alone has exceeded that of total Chinese gas output. That gives us a lot of confidence,” said Zhang Dawei, deputy director of the Strategic Research Centre for Oil
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US Agency Calls China to Allow Easter Worship
Christian Broadcasting Network
The US Commission on International Religious Freedom has called on China to end harassment and detentions of Christians this Holy Week and Easter Sunday. Scott Flipse is the deputy director of the commission, which is an autonomous government board.
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If the United States Loses Its Aaa Rating Will China Raise the Value of the
The Business Insider
This is the logical implication of the threats reported in a Reuters article, saying that China would cut back its investment in US government bonds if the United States loses its Aaa credit rating. The article implied that this threat is something
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Is 2016 the Year China’s Economy Surpasses the US?
New Republic (blog)
While the IMF’s projections last year had Brazil, India, and China surpassing the United States in 2010, their combined economies became larger than the American economy in the middle of the recession, in 2009. And they are gathering speed,
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China Revaluation: U.S. Called For a Stronger Yuan, It May Just Get One
Seeking Alpha
“We don’t have the luxury of such hooliganism,” – Vladimir Putin to Russian lawmakers, accusing the US of “(turning) on the printing press.” There are rumors that China will conduct a very large upward currency revaluation of perhaps 10% over the
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More U.S. children adding Chinese to their ABCs
Reuters
Clayton Dube is an associate director at the University of Southern California’s USChina Institute, and familiar with the Broadway Elementary program. He said the school located in a mixed neighbourhood shows how Chinese language instruction is
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The Case For One-Off Appreciation, Or They Want To Get Rid Of US Treasuries
The Business Insider
Second, as the foreign exchange reserve accumulation will be halted (or at least slowed down), demand for US treasuries from China will drop. And because US dollar will depreciate against Yuan, Americans will finally see some true inflation (before
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India stands tall in gloomy world wheat scenario
NDTV.com
PTI, April 21, 2011 (New Delhi) While other leading wheat producing countries like China and US are witnessing a decline in output, India has stood as an exception with an estimated record production of 84.27 tonnes of the staple foodgrain this year.
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China’s $3 trillion: A golden curse?
RIA Novosti
They may be dollars, but it’s not US money. The question is in fact about China’s foreign reserves – that surged by another $200 billion in the first quarter of this year to reach new record heights. This event did not receive the kind of media
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Analysis: Illinois hogs eating more wheat may ease China prices
Reuters
“In order for us to cost effectively use wheat, it needs to be 10-20 cents priced below the cost of corn.” Corn at Hog Inc. on Tuesday was $7.44 a bushel, while wheat was 3 cents a bushel higher at $7.47. “South Korea and the Philippines have increased
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China risks civil strife with support for foreign dams: activists
Reuters
“We know that Chinese banks within mainland China make a great effort toward sustainability,” he said. “We call upon Chinese banks to … align with their European and US peers who have all adopted standards for lending.” China’s dam projects at home,
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Analysis: China eases Brazil’s concerns with investments
Reuters
The Asian giant’s showering of business deals on Rousseff contrasts sharply with last month’s trip to Brazil by US President Barack Obama, who offered much praise for Brazil’s rising economy but few concrete agreements. Rousseff had gone to China with
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BRICS Leaders Attack US Dollar
The New American
Brazil, Russia, India, China, and South Africa, the so-called “BRICS” countries, added more pressure against the US dollar after their leftist leaders called for a new international monetary system and announced that they planned to start issuing
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Stats Comparing US And China Online…
ZDNet (blog)
By Tom Foremski | April 20, 2011, 12:43pm PDT Pingdom has published a long list of stats comparing the online worlds of the US with China. But is there a point? In May 2004, Tom Foremski became the first journalist to leave a major newspaper,
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Yum sales surprise, up on strength in China
Reuters
Yum is widely regarded as one of the biggest China plays for investors in the US stock market. Yum’s strength in China helped offset weaker performance in the United States, where same-store sales fell 1 percent after negative press about a lawsuit
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Gillard’s defensive talk adds to China tensions
Sydney Morning Herald
THE Prime Minister, Julia Gillard, has moved to strengthen defence ties with Japan and will seek to elevate links with South Korea, adding to China’s unease about new US-anchored security networks emerging on its borders. Ms Gillard and Japan’s Prime
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China says makes progress on use of copyrighted software
Reuters
While China implemented a six-month campaign in November aimed at counterfeit books, music, DVDs and software, all are still openly available on Chinese streets. US officials said progress on illegal software had been made during USChina trade talks
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China to overtake US in PC Market
Siliconindia.com
By SiliconIndia China: In June 2009 China recorded a staggering 338 million internet users and surpassed US . Now it is going to outnumber US in PC purchase as well. Hence soon China will be the largest market for PC. In 2010 US recorded 20.4 percent
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Taiwan attracts foreign direct investment of over US$1 billion in 1Q11
Digitimes
Taiwan approved 533 foreign direct investment projects (excluding those from China) worth a total of US$1.061 billion during the first quarter of 2011, with the number of projects increasing 22.53% and the value decreasing 34.11% on year, according to
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What China Might Teach America About How to Build Highways
Watchdog (blog)
It’s India, China, Brazil and Africa. As their growth begins to ratchet up the demand for oil …that is going to put the pressure on gas prices in the US If you think $4 a gallon is bad, it’s going to get worse. But here’s the key: We’re not going to
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What happens when China stops buying bonds?
MarketWatch
But China conveniently took up the slack. Will Japan’s purchases of US federal debt decline even further, as it increases domestic spending in the wake of the tsunami/ nuclear power plant problems? Will China’s purchases of US federal debt falter if it
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CHUAN MING YANG v. ATTORNEY GENERAL OF U.S.
Leagle.com
The BIA found no other reliable objective evidence included in the record to show that others like Yang, who have more than one US born child, have been forced to undergo sterilization upon their return to China. The BIA likewise found that the IJ
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Iowa State’s Bill Fennelly named head coach of USA Basketball women’s team
DesMoinesRegister.com
Training will resume at the US Olympic Training Center July 31-Aug. 8, prior to the team’s departure for Shenzhen, China and the 2011 World University Games. The World University Games are held every other year and are organized by the International
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China Is Apple’s Fastest Growing Market for IPhone
PCWorld
This brought Apple’s revenues in the first fiscal half to just under US$5 billion for the Greater China market, an increase of almost four times from 2010. The $5 billion generated represents about 10 percent of Apple’s revenues, Cook added in the
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For U.S. Economy, Short-Term Good News Is Bad News
TIME
Of course, markets can change their views, but for an immediate shift to take place, there has to be a more attractive alternative to US Treasury bills. Imagine that you are the head of China’s central bank. You need to invest tens of billions of
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GM’s Baojun lineup in China could expand quickly
Reuters
Introducing the Baojun brand is a key element in GM’s plans for it to double its sales in China, its single largest market, over the next five years. The low-cost brand gives the US automaker a way to compete in the fast-growing market for new cars in
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AO Smith 1Q Earning Up 14%
Appliance Magazine
Sales in the US increased as a result of new energy efficient products launched in 2010. The company said sales in both China and the US increased in Q1 from customer demand in advance of an announced April 1 price increase, which is primarily related
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S&P Cuts the Credit Outlook on US But Japan Holds the Commitment of US Treasuries
Newsi.es
Japan is the world’s second largest holder of US treasuries after China, recently as Standard & Poor’s lowered its outlook on the US but Japanese policy makers have signaled their commitment to hold treasuries even after the S&P ‘s negative rating
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China signals ready to invest more in euro zone
Reuters
[ID:N18231617] China reacted by saying the United States needed to take “responsible” measures to protect investors in its debt. “In the past, our portfolio was dominated by US Treasury bonds,” said Song. “The purpose (of diversifying) is to protect
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China cites positive impact in first report on aid
The Associated Press
China, as an important member of the international society, will … gradually increase the input for external assistance,” based on continued development of its economy, it said. China’s total aid is still small compared with established donors. US
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Analysis: Investors chase big catch in China’s muddy waters
Reuters
The mainland’s rapidly expanding water sector, valued at $48 billion, is currently the third largest in the world, according to research firm GWI Global Water, behind the United States at $110 billion and Japan at $59 billion.
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China Shenghuo Announces New Chief Financial Officer
PR Newswire (press release)
KUNMING, China, April 21, 2011 /PRNewswire-Asia-FirstCall/ — China Shenghuo Pharmaceutical Holdings, Inc. (NYSE Alternext US: KUN) (“China Shenghuo” or the “Company”), a China-based pharmaceutical company primarily engaged in the research, development
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US Commodities Day Ahead: Gold Advances to Record on Dollar
Bloomberg
Copper rose for a third day in London after a report showed stronger-than-estimated house sales in the US, the world’s second-largest consumer of the metal. Refined-copper imports by China, the largest consumer, plunged 43 percent in March from a year
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