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U.S. China News 2011.05.03

Tue, May 3, 2011

METALS-Copper ends up on US data; China worries cap gains
Reuters Africa
“There was a positive reaction,” said analyst Andrey Kryuchenkov, “but at the end of the day, everybody is still looking at China, and weaker than expected PMI numbers (showing) manufacturing growth slowing in April outweigh it.
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China, Russia top U.S. worst pirates list again
Reuters
We are ready to work intensively with you to stop intellectual property theft that threatens IP-related jobs in the United States and other countries,” US Trade Representative Ron Kirk said in a statement. (Reporting by Doug Palmer; editing by Doina
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China drug firm eyes US$2.2b Hong Kong IPO
Channel News Asia
HONG KONG: Shanghai Pharmaceuticals, one of China’s biggest drugmakers, plans to raise as much as US$2.2 billion in an initial public offering ahead of its market listing in Hong Kong this month. The company will sell 664 million shares in a price
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US raises concern about China’s state-owned firms
Reuters
“It’s imperative that our companies have a level playing field on which to compete, not just in China but around the world,” US Undersecretary of State Robert Hormats said in a speech. (Reporting by Doug Palmer, Editing by Neil Stempleman)
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US group urges focus on China state-owned companies
Vancouver Sun
The business group is in Washington to meet with members of Congress and the Obama administration before high-level USChina talks next week on economic and geopolitical concerns. US frustrations over China’s exchange rate policies are expected on the
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US puts India, Pak and China on IPR violation watch list
Hindu Business Line
PTI United States has placed India, Pakistan, China and nine other countries on the top “priority watch list” with regard to violations of intellectual property rights (IPR). America’s trading partners on the Priority Watch List present the most
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Why China’s Economy Surpassing the U.S.‘s Is a Good Thing
CBS MoneyWatch.com (blog)
Here’s another important point that seems to be lost in the discussion: Since China has a far larger population than the US, simple math tells us that China’s GDP will be substantially larger than ours even if the income of the average Chinese citizen
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China hails death of bin Laden, defends partner Pakistan
Reuters
By Chris Buckley BEIJING (Reuters) – China hailed on Tuesday the death of Osama bin Laden in a US raid while defending its regional partner Pakistan against accusations it had done too little against terror threats. Beijing and Washington have gone
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Osama Bin Laden finally Martyred by US, China Still Unstoppable
Science 2.0 (blog)
Be warned and please be careful, as US citizens may be more obnoxious than usual in the coming weeks. There is no need to be overly concerned about this news. Meanwhile in China, people are busy taking over the world regardless.
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Factories Hot In U.S., But Cool In China
Investor’s Business Daily
But China, which has been the engine of global growth, slowed down as tightening measures take effect. China’s PMI fell a greater-than-expected half-point to 52.9 in April as new orders expanded at the slowest pace in eight months, the latest sign that
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End Game for China and US Economic Stand-Off
CNBC.com
China’s willingness to fund the US current account deficit in return for a market for its goods has been one of the defining economic relationships of our time but one analyst believes the monetary stand-off is approaching end game.
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Avon profit beats expectations, margin improves
Reuters
Strength in Western Europe and Brazil helped offset a 32 percent drop in revenue in China for the world’s largest direct seller of cosmetics. Avon is moving to a sales model in China focused on representatives selling directly to customers,
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Viewpoint: Behind Renren’s US stock market venture
BBC News
The PCAOB highlighted in a recent news release that, because of the position taken by authorities in China, it is currently prevented from conducting inspections of the US-related audit work of accountancy firms in the country and, in some cases,
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Luxury goods set for another record year-report
Reuters
Luxury sales in mainland China rose 30 percent in 2010 and are forecast to grow 25 percent at constant currencies this year to 11.5 billion euros, while US luxury sales are set to grow 8 percent to 52 billion euros in 2011 after rising 10 percent at
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OnGreen Sources Eleven Cleantech Ventures for Hong Kong Trade Development
San Francisco Chronicle (press release)
In January, OnGreen partnered with the Joint USChina Collaboration on Clean Energy (JUCCCE) to explore how best to match Chinese capital with US innovation. Last November, OnGreen raised its own Series A investment from Shanghai-based China Southern
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3 Big Tech Winners in China
TheStreet.com
Figures recently released by the International Monetary Fund predicted that China will surpass the US to become the world’s largest economy by 2016. Economists polled by Reuters expect strong economic growth of 9.5% in China this year, at a time when
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Why immigrant entrepreneurs are leaving U.S.
msnbc.com
Entrepreneurs see abundant opportunities in places like India and China now. The world’s best and brightest can stay home and achieve as much success as they could in the US Skilled workers who immigrated to the US are optimistic about these
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Terry McAuliffe says China owns $1.1 trillion in U.S. debt
PolitiFact
McAuliffe, for his second claim, used a report from the liberal-leaning Brookings Institution that reports: “In 2010, the USChina trade deficit increased to over $273 billion, the highest bilateral trade deficit on record.
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Asustek plans more models as tablets well-received in China, US
Total Telecom
Taiwanese personal computer maker Asustek Computer Inc. said Friday its own-branded tablets launched earlier this month are being well-received in China and the US and it is planning to launch more new models in the coming month. Like other PC makers,
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INTERVIEW: An assessment of China’s military rise in Asia-Pacific
Taipei Times
Also, China has become the second-largest economy, which means that the Group of 2 [China and the US] will be dealing with the international and regional security issues. Will the US cut down on its arms sales to Taiwan? That depends first on US public
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What US Manufacturing Growth Has To Do With China
MetalMiner
The graph below illustrates how the Rust Belt compares with the South (and the ailing Northeast) in terms of adding more employees to payrolls: Production and labor costs are still higher in the US than in China, and generally higher in the northern
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METALS-US copper ends up in bounce from China-led losses
Reuters Africa
China’s manufacturing slowdown suggested government tightening efforts have weighed more heavily than expected on the world’s second-largest economy. [ID:nL3E7G100E] “The thought is whether or not these tightening policies are going to engineer
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Top 100 US markets lead the world in economic clout
Bizjournals.com
A 2010 report from the International Monetary Fund named China as the world’s second-biggest financial power with a gross domestic product (GDP) of $5.9 trillion. The World Bank said in 2009 that Japan was No. 2 worldwide with GDP of $5.1 trillion.
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China Gains On The US But Still #2 Paper Producer
Gerson Lehrman Group
China surged in March buying 951000mt – 65% more than in February and 35.5% over 1Q2010. With this increased demand China was forced to pay more for NBSK (ie $80/admt). From 2005-2010 China’s paper and board production grew by 30-31 million mt while US
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US Commodities Day Ahead: Morgan Aligned With Commodity Bulls
Bloomberg
Marfrig Alimentos SA’s borrowing costs are falling from a record high relative to those of larger Brazilian beef producer JBS SA after it expanded in China and limited increases in its debt ratios. US oil supplies rose to the highest level in six
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Weak dlr not a concern for China reserves-former fx official
Reuters
The dollar hobbled near a three-year trough against a currency basket on Tuesday, undermined by loose US monetary policy, fanning concerns that it may further erode the value of China’s foreign exchange reserves, which have so far been mainly invested
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Shirley Wang to Receive Ellis Island Medal of Honor
PR Newswire (press release)
Shirley Wang and her husband, Walter Wang, the CEO of JM Eagle, funded the first endowed chair at UCLA’s Asian American Studies Center for a national program focused on USChina relations. This program also includes the USChina Media Brief,
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US Treasury Department Schedule for Tuesday, May 3
Bloomberg
Later in the afternoon, Secretary Geithner will participate in a discussion on the upcoming USChina Strategic & Economic Dialogue (S&ED) moderated by The Atlantic’s James Fallows at an event hosted by the USChina Business Council.
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Do the Chinese Envy America? IMF Forecasts, Purchasing Power Parities — and
Forbes (blog)
It’s a dizzying transformation as, just 10 years ago, the US economy was three times bigger than China’s. More than population size is at issue. The numbers also put a few commonplace free market assumptions in a critical perspective.
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Nouriel Roubini on US Economy, Bond Vigilantes, and Yuen Becoming a Reserve
The Market Oracle
“Certainly not China. Because in this fundamental exchange rate game, the currencies that should be appreciating are those that are undervalued…while those that should be depreciating are the US, UK and other countries that have a bubble that went
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5 Stocks to Profit From the World’s Insatiable Thirst for Energy
Motley Fool
To put that in some physical perspective, that increase would require China to install 109348 1.5-megawatt wind turbines to keep up with demand. While the US and even China talk about reducing the greenhouse gasses that coal emits, coal powers one of
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Tenneco Reports First Quarter Financial Results
Business Wire (press release)
These programs are launching in North America, Europe, China and South America. Today, Tenneco is adding Daimler and MAN, both in South America, to its list of nine previously announced commercial vehicle customers. Tenneco also recently announced new
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Another side of tilapia, the perfect factory fish
The Seattle Times
Last year, more than 52 million pounds of fresh tilapia were exported to the United States, mostly from Latin America, as well as 422 million more pounds of frozen tilapia, both whole and filet, nearly all from China, according to the United States
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Rockwell pays fine, forfeits profits in SEC settlement
Bizjournals.com
The Milwaukee-based manufacturer of industrial automation systems, controls and software said the violations occurred at one of its former Power Systems subsidiaries in China. Rockwell voluntarily disclosed the actions to the US Department of Justice
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Global VC deal sizes keep rising
Fortune
Dow Jones VentureSource today said that VCs invested $9.8 billion into 967 deals last quarter for companies based on the US, Europe, Canada, mainland China and India. That’s a 20% increase in dollars but a 7% decline in funded companies from the first
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Pakistan need support of neighbor countries In economic development
Pak Watan
The impetus was built during seventies when US wanted China to open its economy for international trade. The irony of fact is that after more than three decades, US increasingly consider China as a serious threat to US hegemony.
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Will the Dollar Oil price fall, taking Gold with it?
Gold Seek
In China, where the Yuan is still held tight to the dollar, oil prices have risen in line with the fall in the Yuan against other currencies. Now, look at it from oil producers’ standpoint. The United States and China comprise less than half of global
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Chinese SUV Tries to Make it in US Despite Taxi Fire
All Cars Electric (blog)
But while GAC’s website promises it is providing the “First 100% Electric SUV” to US consumers, investigators in China are still exploring a terrifying incident which took place in early April in which resulted in one Zotye electric car bursting into
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Guest commentary: The Jones Act
Naples Daily News
Bananas come from Central America, wine from Australia and Chile and bottled beer from Europe, all to the US. We even ship our wastepaper to China for recycling and bring it back as grocery bags and paper napkins. The US imports 63 percent of the crude
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Manufacturing Leading US Economy on Exports, Inventories
ForConstructionPros.com
Demand from emerging economies like China, the need to replenish stockpiles and investment in new equipment may keep benefitting manufacturers, including Caterpillar Inc. (CAT) and Cummins Inc. (CMI) Federal Reserve policy makers last week said the
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