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U.S. China News 2011.05.02

Mon, May 2, 2011

US, China factories slow; Europe, India boom
Reuters
By Pedro da Costa and Jonathan Cable WASHINGTON/LONDON (Reuters) – Manufacturing growth softened in the United States and China but firmed in Europe and India, according to reports highlighting the fractured nature of the global economic recovery.
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Infosys to Add More People in US, China in Overseas Hire Plan
BusinessWeek
By Ketaki Gokhale May 2 (Bloomberg) — Infosys Technologies Ltd., India’s second-largest software exporter, plans to step up hiring in the US, China and other overseas markets as it seeks to check rising employee turnover and boost profit.
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Osama, China, and America
New Yorker (blog)
It’s been a long decade for China and the US; today, Chinese corporations and military forces are scattered around the globe, exposing them to the risks and resentments that once attached almost exclusively to symbols of American power.
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Arvind Subramanian: America vs China: A reality check
Business Standard
The world’s two economic superpowers, the United States of America and the People’s Republic of China, will meet soon for the third installment of their Strategic and Economic Dialogue. Beyond the specifics, the real issue for the US and the world is
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EXCLUSIVE-How US trying to wean China off Iranian oil
Reuters Africa
Saudi Arabia and the United States discussed how increasing Saudi crude supplies to China “would have the welcome side impact of reducing Iranian leverage over China“, US officials told the Saudi Oil Minister Ali Al-Naimi in August 2009.
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METALS-US copper bounces after China-led sales push
Reuters Africa
By Chris Kelly NEW YORK, May 2 (Reuters) – Copper fell to within a few cents of its year-to-date lows early Monday morning, hit by cooling demand concerns in China following data that showed the country’s vast manufacturing sector slow down in April.
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USA tops Olympic Medal Tracker; China could rise
USA Today
By Vicki Michaelis, USA TODAY As aspiring 2012 Olympians prepare for critical qualifying events this summer, US athletes appear well-positioned to win the most London Games medals but only by a slim margin over China and Russia, according to USA
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GM sells 3 millionth Buick in China, more important than US
USA Today
By Fred Meier, USA TODAY China is the biggest market in the world for Buick — General Motors has for some time sold more Buicks there that in the US — and now Shanghai GM says sales of Buicks have passed 3 million units since it began selling them in
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Asia Seeks to Diversify Record Reserves as U.S. Dollar Declines
Bloomberg
By Shamim Adam – Mon May 02 16:01:00 GMT 2011 Asian nations are pooling funds to strengthen regional investment, in a step toward diversifying record foreign-exchange holdings as the US dollar declines. Ten Southeast Asian nations, along with China,
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Chinese firms build in US IPO calendar
Renaissance Capital
With much of the attention this week focused on the roughly $700 million US stock market debut of China’s leading social network Renren (RENN), three more Chinese companies kicked off their IPO roadshows last week with pricing for all three slated for
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Manufacturing Leading US Economy as Exports, Inventories Rise
Bloomberg
Demand from countries like China and Brazil is spurring US exports of machinery and consumer goods. Sales overseas reached the highest level on record in January before falling in February for the first time in six months, according to Commerce
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What the End of the American Age Means for Your Portfolio
CBS MoneyWatch.com (blog)
A report by the International Monetary Fund noted China’s economy could outgrow the US’s economy in as little as five years. The writer noted that other measurements of GDP don’t show China overtaking the US quite as rapidly, but that it certainly
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Michael A. Zakkour, Principal, Technomic Asia, at Next Stop America China
PR Urgent
Next Stop America China Conference 2011 will provide Chinese CEOs and top executives of firms that area planning to launch and expand their business in the United States a proven path to successfully enter the market. Next Stop America China Conference
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China’s yin and yang that outpaces US
Deccan Chronicle
That way, the company could persuade local governments to give it land at reduced prices. What are we to make of such a country? That it contains multitudes. And that at this time of rising ChinaUnited States tensions, any simplistic black or white
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JinkoSolar Hires Industry Veteran to Head Its U.S. Subsidiary
PR Newswire (press release)
and vertically-integrated solar power product manufacturer with low-cost operations based in Jiangxi Province and Zhejiang Province in China and sales and marketing offices in Shanghai, China, Munich, Germany, San Francisco, US and Bologna, Italy.
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China’s economy: #1 or #126?
MarketWatch (blog)
There have been plenty of reports that China’s economy is overtaking the US economy and that it may soon outstrip the US. As an example, in a recent piece, my MarketWatch.com colleague Brett Arends, reported on a study by the International Monetary
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China’s yuan broke past 6.50 against the US dollar
International Business Times AU
Surging inflation that trigger protests in Shanghai prompted China’s leaders to speed up the rise of the country’s tightly controlled currency. The move came less than two weeks before the scheduled economic talks between the US and China where the US
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China carbon emissions could peak by 2025-2030: US study
EcoSeed
China, with 1.34 billion people, already emits a quarter of the world’s CO2. This is more than the United States, historically the world’s top emitter of the main greenhouse gas from human activity fuelling climate change. It overtook the United States
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Health Buzz: Smoking Ban Takes Effect in China
U.S. News & World Report
Tobacco use, namely cigarette smoking, is the chief cause of preventable death in the United States. Left unbridled, smoking could kill more than a billion people this century, according to the World Health Organization. That equals the number who
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Obama’s doctrine: Lead from behind
Chicago Tribune
“That the relative power of the US is declining, as rivals like China rise, and that the US is reviled in many parts of the world.” Amazing. This is why Obama is deliberately diminishing American presence, standing and leadership in the world?
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ZTE, Danisco, Apple, Toys R Us, SAP: Intellectual Property
Bloomberg
ZTE and Huawei have both expanded beyond China into Asia and Africa, and are now looking to boost sales in Europe and the US Huawei is the world’s second-largest maker of equipment for mobile-phone networks behind Ericsson AB, according to estimates
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China tops US on Web 2.0
Warc
BEIJING: Internet users in China are more engaged with a variety of Web 2.0 activities than is the case in the US, a study has revealed. Research firm Netpop polled 1253 Americans and 1221 Chinese consumers, and found habits in the two countries
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India, China to keep diamond prices firm in medium term: Crisil
Economic Times
NEW DELHI: After a sharp rebound since last year, diamond prices are expected to continue rising in the medium term due to increasing consumption in the emerging markets of India and China, and recovery in the US market, credit rating agency Crisil
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Jon Huntsman puts Mitt Romney on uphill climb
Boston Herald
By Holly Robichaud He’s back in the USA Who? As of yesterday, former governor of Utah and now former ambassador of China, Jon Huntsman is officially done with his duties and is expected to run for president. Although Huntsman is temporarily not a
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Appreciating China: The Implications of a Stronger Renminbi
International Affairs Review
By Steven J. Woodard The economic relationship between the US and China has become more complex than most people could have envisioned a decade ago. The dispute over China’s currency, the renminbi (RMB), is a perfect example of the interdependence
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China’s ambitions Help Indonesia
Business Area
As of March 2011, total imports from China to Indonesia reached US $ 1.37 billion in February compared to US $ 1.34 billion. In March 2011, non-oil products trade deficit of Indonesia-China reached US $ 668 million, up from January 2011 amounted to US
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China to compete with US in Lamborghini sales
Rush Lane
He went on to state that the company was of the opinion that they would be selling more sports cars to China than even USA during the year 2011. China shows great demand and promise for Aventador which is a high performance sports car and Lamborghini
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Baojun brand to help GM reach into new price markets in China
Detroit Free Press
So, global executives ask: How is GM ensuring it won’t repeat its US overexpansion in China? Susan Docherty, GM’s regional sales and marketing boss, tells them the Chinese market is millions in sales ahead of the US Although China’s growth is slowing,
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Will China Be Number One?
Antiwar.com
Count on one thing: part of the US military feels just the way you do, especially a largely sidelined Navy—and that’s undoubtedly one of the reasons why, a few months back, the specter of China as this country’s future enemy once again reared its ugly
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HSBC economist: A bumpy road to global economic recovery
MiamiHerald.com
But overall, the US is just back to the levels of activity we saw at the beginning of 2008. In one sense, the US has been bumping along the bottom over the last two or three years. Q. When would you expect China to overtake the United States in terms
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IPO Track Record Leaves Hong Kong Looking Winded
Wall Street Journal
A Chinese maker of curtain walls, Yuanda China Holdings Ltd., shelved a plan Friday to raise up to US$536.2 million in a Hong Kong initial public offering because of weak demand from investors, said a person familiar with the situation.
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MicroCoal Conducting Selection Process for U.S. Utility for first Commercial
PR Newswire (press release)
MCI is currently in the process of examining its patents in both the USA and China. MicroCoal’s executives have dedicated the past 4 years to develop strong relationships with leading energy/utility providers in the USA A number of small and large
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No visa, no entry: Destinations where you need more than a passport
The Republic
Detroit Free Press 2011 DETROIT — What do Brazil , China and India have in common? All require American travelers to get a visa. And they are not the only countries. “A lot of people don’t know visas exist, or they think US citizens don’t need one,”
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MarketsandMarkets: Healthcare IT Market in Emerging Economies Expected to be
PR Newswire (press release)
DALLAS, May 2, 2011 /PRNewswire/ — The ‘Healthcare IT Market in Emerging Economies (2010 – 2015)’ analyzes and studies the major market drivers, restraints, and opportunities in countries such as Brazil, Russia, India, China, South Korea, and Mexico.
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Kingold Jewelry, Inc. Issues Open Letter to Shareholders
PR Newswire (press release)
We recently hired a well-regarded consulting firm in China to bolster our internal controls and 404 compliance who conducted an in-depth review of our internal control over financial reporting and continues to support us regarding financial controls.
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Ai WeiWei Supporters Protest His Imprisonment
ThirdAge
By Christina Lam Ai Weiwei, 53, one of China’s most prominent avant-garde artists and human rights activists, poses for a portrait in his… Read More Beijing studio on April 25, 2009. US Secretary of State Hillary Clinton urged China to free dozens of
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Weighing Revenue Versus Earnings Quality
Seeking Alpha
There will be continued growth of the middle class in the BIC (Brazil, India and China) countries, increasing internal demand. There will be continued political instability in the US even after the 2012 presidential election.
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Bin Laden, China news good for country, stocks
MSN Money
The death of the terrorist mastermind is a plus for the US and the world, while China’s manufacturing slowdown means good things for stocks. By Jim Cramer on Mon, May 2, 2011 8:06 AM The short term is different from the real short term,
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Artists paint stark portraits of Chinese corruption
Reuters
Fame in the United States, and has seen the number of portraits of jailed officials steadily climb to over one thousand. “I never thought there could be that many corrupt officials in China.” He has collected the names of more than 2500 officials.
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Kate Krauss: US should stop abetting Chinese brutality
Capital Times
For decades, the US government has aided the regime by supporting China’s economic aspirations, including permanent normalized trade relations, which have allowed it to reap huge profits — enriching the Central Committee and the unelected elite.
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Asian shares rise in holiday-thinned markets
Moneycontrol.com
Gold also went into retreat while US stock futures got a boost. But overall, with financial markets in China, Hong Kong, Singapore, Malaysia and Thailand closed for public holidays, stocks in the rest of the region were mixed. Shares in Tokyo and Seoul
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Taiwan drops one spot to be China’s 6th biggest importer
China Post
The United States, meanwhile, has replaced Taiwan as China’s fifth largest importer, the bureau said. During the first quarter, China’s total imports totaled US$400.4 billion, a rise of 32.8 percent from the same period last year.
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U.S. Security: Asia sits at the crossroads of emerging threats, says official
Examiner.com
Despite tensions over Chinese military secrecy and its increasing assertiveness in the South China Sea, Flournoy said, the United States and China “are not inevitably destined for conflict, as some have posited. Even as we manage our differences,
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Commentary: Netflix not a reason to be bullish on China video portals
MarketWatch
By Craig Stephen HONG KONG (MarketWatch) — For all the criticism which the US faces, it remains the leader in the cutting edge of the Internet — others follow. This is especially so in China, where a whole generation of companies were spawned as
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Another global financial crisis in the offing
Pakistan Observer
China and other countries hold trillions of dollars in their foreign exchange reserves. With Obama printing trillions of dollars to stimulate the US economy, China fears that the dollar- and China’s own reserves- will crash. As a result China is
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Ma: Taiwan’s future to be decided by its constitution
Radio Taiwan International
Ma said he is confident that the US will continue assisting with Taiwan’s defenses. Ma also said that Taiwan’s military exercises in January of this year were unrelated to a state visit to the US by Mainland China’s President Hu Jintao.
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Crossgen’s ‘Way Of The Rat’ Comic Book Series To Be Adapted?
MTV.com
The project is described as a joint production between China, the United States and Canada with a projected budget of $94 million. Reports indicate that shooting of the “Way of the Rat” motion picture is set for later this year in hopes of a Christmas
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Gold-Buying Central Banks May Signal Bullion Extending Record Price Rally
Benzinga
The economy in China, the biggest foreign holder of US Treasuries, grew 9.7 percent in the first quarter. “China is out to have more gold than America, and Russia is aspiring to the same,” McEwen said yesterday in an interview at a Bloomberg Link
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