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U.S. China News 2011.04.26

Wed, April 27, 2011

US, China Set to Meet on Human Rights
Voice of America
Despite differences in opinion on a host of individual issues, China and the United States are going ahead with various meetings as the two countries work to emphasize the importance of maintaining stability in the overall Sino-American relationship.
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Coach profit rises 18%, boosted by U.S., China
MarketWatch
By Andria Cheng, MarketWatch NEW YORK (MarketWatch) — Upscale handbag designer Coach Inc. said Tuesday that its fiscal third-quarter profit rose a better-than-expected 18%, helped by sales gains in China and the US The company also said it is
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US lawmakers say got assurances from China on yuan
Reuters
WASHINGTON, April 26 (Reuters) – US Senate Majority Leader Harry Reid and other US lawmakers back from a trip to Beijing said on Tuesday they had been assured China would allow its currency to continue to rise against the US dollar.
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China warns against “interference” in U.S. rights talks
Reuters
“When it comes to differences between China and the United States over human rights, the two sides can enhance mutual understanding on a basis of equality and mutual respect,” Hong told a regular news conference. “We oppose any country using human
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China to surpass US sooner than expected
The Business Insider
The IMF is now predicting that China will pass the US, as the world’s number one economic power, within five years. That should come as a big shock, seeing that most experts were predicting it to happen in about twenty years. The US has definitely
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Food and Drug Law Institute To Hold Conference on U.S.China Food and Drug Law
PR Newswire (press release)
WASHINGTON, April 26, 2011 /PRNewswire-USNewswire/ — The Food and Drug Law Institute (FDLI) will host a major conference on food and drug law, regulation and policy in China and the United States June 13-14, in Beijing, China.
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US Must Duplicate China’s Clean Energy Initiatives, Says Reid
Talk Radio News Service
Certainly, lawmakers — mostly Democrats — and administration officials have spoken at length over the course of the last two years about how China has surpassed the US in terms of alternative energy production. President Obama, in particular,
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GM minivan gone in US, but still thrives in China
Baltimore Sun
SHANGHAI (Reuters) – General Motors Co killed its minivan in the US market thanks to its soccer-mom stigma, but the automaker has carved out a high-priced niche for the vehicle as a chauffeur-driven executive ride in China. While many American families
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China questions Aussie human rights record
Sydney Morning Herald
questioning Australia’s own performance regarding asylum seekers, US diplomatic cables reveal. Provided to Fairfax newspapers by WikiLeaks, the confidential cables between Australian and American diplomats reveal China’s denial of rights abuses.
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Cyber Thieves Hacking US Accounts, Sending Money to China
Bloomberg
Intended recipients of the unauthorized transfers are companies registered in port cities near the China-Russia border, according to the statement. Authorities don’t know who is responsible for the transfers, whether the Chinese accounts were the final
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China’s Central Banker: We Own Too Much US Debt
The New American
China’s Central Bank Chairman Zhou Xiaochuan told a Chinese monetary conference last week that “Foreign-exchange reserves have exceeded the reasonable level that our country actually needs,” which is essentially code for China won’t be buying US
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US urged to protect activist site from China hackers
AFP
WASHINGTON — A lawmaker on Monday urged the United States to intervene to protect a popular activist site after it was hit by China-based hackers apparently upset at a petition to free artist Ai Weiwei. Change.org, an online activist network,
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China has several interests in Nepal: US Congressional report
Indian Express
China has significantly increased its activities in Nepal where it has “several key interests,” ranging from the Tibetan refugees to part of its strategic objective to encircle India, a US Congressional report has said. “China has several key interests
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China losing ground to Latin America
Plastics News
The Bethel, Vt.-based injection molder has factories in the US China, and Mexico. “Typically, we like to be [physically] close to our customer … in the [product] development phase, and create a high level of very standardized processes that, later on,
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China to Build Heavy Equipment Plant Worth US$ 200 Million
Tempo Interaktif
Sany will compete with other heavy equipment industries in Indonesia, such as Caterpillar from the US and Komatsu from Japan. The Sany Group is a multi-national company based in Hunan, China that has previously made investments in the US, Germany,
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US risks war with China and Russia
Press TV
While revolts in Tunisia and Egypt caught the US by surprise there is speculation that they are behind revolts in Libya and Syria. Russia and China are also see observing these developments. Press TV talks with Dr. Paul Craig Roberts, former assistant
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American Finds a Home in Chinese Record Books
New York Times
This season Guangdong has six current or former Team China players across multiple positions, all of whom play a lot of minutes. Jason Dixon, an American who works as an assistant with Guangdong and previously played for 10 seasons with the team,
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Molycorp’s Expansion across the Rare Earth Supply Chain
Reuters
By Euan Sadden by Euan Sadden On April 18, 2011, Molycorp, a US based producer of rare earth metals and owner of the largest rare earth mine outside of China, announced that it has acquired a processing facility to manufacture rare earth magnets.
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China-based makers lower prices for solar cells to US$0.95/W
Digitimes
A few second-tier China-based makers of polycrystalline silicon solar cells have reduced quotes to US$0.95/W, the lowest ever on record, according to industry sources in Taiwan. The inventory build-up in the Europe market and the delay of Italy’s new
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Hedge Fund Advisor Long China,Gold;Short US Stocks,Treasuries,Dollar
Forbes (blog)
Some of its 29 member staff have prepared fascinating charts showing the vagaries of inflation, the performance of commodities like copper compared to global inventories, and many instructive charts on China I had never seen before. Hedgeye believes US
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China’s Alibaba.com Creates Channel for Small U.S. Retailers to Discover Products
All Things Digital (blog)
general manager of Alibaba.com and AliExpress in the US For the Chinese manufacturers that have often done well on Taobao.com, it gives them the opportunity to expand internationally. ”There are lot of innovative designers and innovators in China.
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China to invest US$314bn in power grids to 2015
Industrial Fuels and Power
The State Grid Corp of China intends to increase investment in the country’s power grids to CNY2.05tn (US$313.99bn) in the coming five-year plan, a 68% rise from the preceding period, reports the China Securities Journal. Of the total amount,
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METALS-LME metals give up part of recent gains; US econ data eyed
Reuters Africa
“The whole market atmosphere is cautious at the moment with credit tightening issues in China and the health of the US economy in question,” said Jinrui Futures analyst Guo Yong. “However, I see today’s fall in base metals as a normal correction after
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S&P blow to US debt should put China on alert
China.org.cn
It will not just impact the US economy and investment environment, but other countries around the world, including China. In terms of capital markets, volatility on Wall Street will certainly affect China’s A shares, so investors in the Chinese stock
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The ‘Age of America’ Ending?
Christian Broadcasting Network
If you look solely at the gross domestic output of the US and China using current exchange rates, you wouldn’t see this coming, Arends writes. That’s because China works hard to undervalue its currency. Arends says America’s global dominance has been
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Pentair beats expectations
Minneapolis Star Tribune
Stock up as the company boosts its outlook, riding strong sales in the US and China. Water filtration giant Pentair Inc. reported strong first quarter earnings that beat analysts expectations thanks to stronger industrial demand and beefed up results
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US Senate urged to ratify UN Law of the Sea Convention
Philippine Star
WASHINGTON – At a time when China is flexing its muscles over ownership of disputed territories in the South China Sea, Democrats and Republicans should come together and end decades of dispute over US accession to the United Nations Convention on the
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5 Reasons BRICs Are Back
Smartmoney.com
While the US and Europe struggle to get their economies moving in the wake of the global financial crisis, the BRIC countries are motoring ahead, especially China and India. “The global financial crisis hit Asia hard,” Deutsche Bank recently wrote.
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US and China Build Soft Power in Timor-Leste
ISN
Since Timor-Leste (formerly East Timor) gained independence in 2002, the small territory has witnessed an intense competition between the US and China. While Timor-Leste has not been considered as strategically important for either country,
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China’s dance with exchange rates
Livemint
What we do know is that China should have begun exiting gradually from US Treasuries long ago. But, according to US Treasury data, China’s holdings of US government securities totalled $1.16 trillion at the end of 2010, accounting for roughly 60% of
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For Chinese, Apple’s shine not lost in translation
The Seattle Times
Analysts say Apple is a rare success among big US retailers out to share in China’s economic boom. No comments have been posted to this article. SHANGHAI — While many Western retail giants have failed to translate their American success in China’s
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Voices from China #2: ‘The Chewiness is What People Desire’
The Atlantic
The reader disagrees with us both. I present very long excerpts from of her even longer dissent as a sample of the kind of conversation I sometimes had in China, with people who felt they had tried harder to understand Western perspectives than most
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PRUDEN: China’s Easter offensive against the churches
Washington Times
“As Easter is very important to us we must stick to our decision to worship outdoors,” Jin Tianming, the senior pastor of Shouwan Church, tells Agence France-Presse. “This is our uncompromising position and a matter of faith.
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In US, the problem of postponing unpopular policies to win elections
TODAYonline
Can you imagine China and the US having enough of a consensus for them to both be rocks (of stability) in the future? I do not have a crystal ball but I would say for 10, 20, 30 years, it is not in the interests of China to have other than stable
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Minmetals Resources withdrew its US$6.6B acquisition plan for Equinox
Live Trading News
Minmetals Resources, China’s biggest metal trader, said Tuesday it withdrew the planned bid of offering to acquire copper miner Equinox Minerals for Ca$6.3B (about US$6.6B). MMR said Equinox will recommend its shareholders to accept an offer from
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Market Overstuffing on Yum Foods
Seeking Alpha
However, gains in China have been offset by losses in the US market. As a result, the stock is overvalued due to changing consumer trends in developed markets, increasing commodity prices, cutting margins, and market saturation of weaker franchises.
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Chinese Drywall Lawsuits Are Partially Settled by Louisiana Supplier InEx
Bloomberg
Terms of the proposed settlement were set out in papers filed today in federal court in New Orleans, where thousands of claims over corrosive drywall made in China have been consolidated before US District Judge Eldon Fallon. “This is the first Chinese
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Can China really dump the dollar?
MarketWatch (blog)
The US dollar is on our minds these days because it is weak and getting weaker. We hear reports that Chinese officials are actively cautioning, scolding and remonstrating the US on its profligate ways because China has a few trillion in reserves,
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Is China Preparing to Dump its $1 Trillion of Treasuries?
Kiowa County Signal
It currently holds about $1.154 trillion of US treasuries — the debt securities that constitute US debt. Now it may be planning to dump those US treasuries on the market. If China wants to diversify its holdings by reducing its gross reserves by
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Romney: Obama Has Been Trying to Learn on the Job, But the Learning Has Been
Fox News
VAN SUSTEREN: The IMF is predicting that China’s economy is going to surpass our own in the year 2016. First of all, how does — what does that mean to us? What does that mean to the average American? How do we feel that? And secondly, why is China
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Special U.S. pigs take flight to rebuild South Korea herd
Reuters
While Clayton’s focus is now on South Korea, his attention will soon turn to China. China’s growing population and economy have pressured leaders there to increase meat production, particularly pork. It recently lifted a two-year ban on US hogs and
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When Oil Prices Double, Look Out For Another Recession
The Business Insider
There are plenty of risks in the economic outlook right now, including global supply disruptions following the multiple disasters in Japan, sovereign debt problems in Europe, budget gridlock in the US, and China’s inflation and rate hikes.
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Ford idles plants in Taiwan, China, S. Africa
Reuters Africa
All three plants, one each in Taiwan, China and South Africa, were scheduled to be shut later, and Ford moved up those dates, a Ford spokesman said. Ford in a filing with US securities regulators earlier this month, signaled the slowed production in
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US Commerce Official: Must Continue To Build Export Growth
NASDAQ
By Tom Barkley, Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- The US must build upon its export growth by passing pending free-trade agreements and tapping into fast-growing markets in countries like China and Brazil, a senior Commerce official said
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GRAINS-US futures ease on macro doubts, weather underpins
Forexyard
“CBOT trading weakened amid a wide commodities sell-off,” said Ricky Chan, senior account manager with ADMIS Hong Kong Limited, citing caution ahead of a meeting of the US Federal Reserve that starts on Tuesday. “There is also market talk that China
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