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U.S. China News 2011.05.04

Wed, May 4, 2011

Report urges US open door to China investment flood
Reuters
That would be a four- to eight-fold increase of China’s current outward investment of about $230 billion, according to the report done for the Asia Society, the Kissinger Institute on China and the United States and the Woodrow Wilson International
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Yuan ends up as China, US reiterate positions
Reuters
[ID:nN03126290] Dealers said these remarks ahead of the USChina Strategic and Economic Dialogue next week appear routine, but added that US pressure for China to let its currency appreciate has significantly eased this year compared with last year.
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GLOBAL MARKETS-Commodities, stocks fall on US data, China
Reuters
US crude oil CLc1 was down 1.7 percent to $109.16 a barrel, weighed by concerns over China. Crude is still near a 31-month peak, keeping alive inflation worries. Portuguese bond yields fell after the country agreed to a three-year 78-billion-euro ($116
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Infosys to hire more in US, China to boost profit
Economic Times
MUMBAI: Infosys Technologies , 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. “Our customers are global, so we want to create
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EMERGING MARKETS-Latam stocks fall on US data, China fears
Reuters
By Michael O’Boyle MEXICO CITY, May 4 (Reuters) – Latin American stocks fell on Wednesday as surprisingly weak US data and concerns of policy tightening by China boded for slower growth in the region’s top trading partners. Brazil and Mexican stocks
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China rejects US report on religions
Herald Sun
BEIJING rejected a US commission report accusing China and other countries of seriously violating religious freedoms, saying the board that wrote it should “abandon its prejudices”. “We advise the so-called ‘US Commission on International Religious
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China Internet Stocks Tumble Before Renren’s US Share Sale
Bloomberg
China’s economy is projected to grow three times faster than the US and about two-thirds of the population is not yet online. Lee said Innovation Works, founded in 2009, now has investments in 28 projects, mostly related to mobile-Internet technology.
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Steel prices up in US, China’s steel output 700 million tons in 2011.
Wall Street Journal
Albanian_Minerals President Sahit_Muja said that there has been a strong stainless steel production activities in China, India, US, EU, Russia, South Korea, Turkey and Brazil. Prices of chrome ore are now on the rise and demand is increasing.
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METALS-Copper falls after US data, China concerns
Forexyard
By Melanie Burton and Sue Thomas LONDON, May 4 (Reuters) – Copper fell to its lowest since mid March on Wednesday as investors worried that tightening monetary measures in China, signs of slowing US growth and high energy prices will restrain growth
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Teach For China to Receive US$1.5 Million Donation from Li Ka Shing Foundation
PR Newswire (press release)
The ‘100000 Strong’ initiative is a national effort designed to increase dramatically the number and diversify the composition of young Americans working and studying in China. US Secretary of State Hillary Clinton, in conjunction with Chinese State
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US Chamber: China talks to yield modest results
MarketWatch (press release)
By Andrew Ackerman WASHINGTON -(MarketWatch)- The high-level USChina talks scheduled next week here are likely only to lead to “modest” results, yet it is important that both sides continue talking about geopolitical and economic issues,
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China Reduces US Debt Holdings by US$249 Billion
2point6billion
China seems to have moved more of its investment capital into long-term Treasuries from the short-term debt during the surveyed period. The long-term US Treasury securities held by China surged from US$757 billion to US$1.11 trillion, but the holdings
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US trade officials step into Fellowes’ spat with China
Crain’s Chicago Business
(Crain’s) — Concerns raised over a Chinese joint venture that went sour for Itasca-based Fellowes Inc. last year could become Exhibit A in a major trade dispute developing between the US and China. CEO James Fellowes alleges his Chinese partner stole
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2016 will not be the end of the ‘Age of America’
Zanesville Times Recorder
For economies as large and diverse as those of America and China, differences in purchasing power within each country are huge. It is almost meaningless to find an average price for all of the US or all of China. Perhaps even more important in
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Today’s Top Stories: China Firms Poised to Spend, Will America Get a Cut?
Bizjournals.com (blog)
Top story: There’s been plenty of talk about US companies and venture capitalists investing in China. But investment could flow both ways. A report to be released this morning shows Chinese companies could invest $1 trillion to $2 trillion around the
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FOREX: Focus Turns to US Data After China Sinks Risk Appetite
Daily FX
The MSCI Asia Pacific regional benchmark equity index (excluding Japan, where markets were closed today) dropped 1.3 percent after China’s central bank said, “Stabilizing prices and managing inflation expectations are critical,” adding that bank
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US raises concern about China’s state-owned firms
Reuters India
National flags of US and China wave in front of an international hotel in Beijing February 4, 2010. By Doug Palmer Robert Hormats, US undersecretary of State, nodded to the innovative and entrepreneurial skills of some Chinese companies, but said that
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THE TRUTH BEHIND JAPAN-US TIES (2): US used ‘China card’ to thwart Futenma
Asahi Shimbun
The United States was using bases in Okinawa to prepare for a potential military engagement with China, which negated Japanese proposed alternatives on relocating the US Futenma air station, diplomatic cables showed. Specifically, comments attributed
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West Fraser shipments to China rising as US market remains stalled
The Canadian Press
Ltd. shipped roughly 30 per cent of its Canadian lumber production to China. Chief executive Hank Ketcham says that’s up from virtually nothing just five years ago. Ketcham made the comments as the company answered questions of its latest quarterly
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CANADIAN COMPANIES WILL RELY MORE ON EMERGING MARKETS FOR TRADE GROWTH, SAYS
CanadianBusiness.com
By Canada NewsWire | May 04, 2011 VANCOUVER, May 4 /CNW/ – Canadian companies will rely more on the emerging markets of China, Southeast Asia and Latin America, and less on the United States, as their primary source of trade growth over the next six
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US worries about China’s state-backed companies, wants level playing field for
The Canadian Press
Hormats said 41 Chinese state-owned enterprises are among the Global Fortune top 500 companies. He was speaking at the US Chamber of Commerce ahead of a high-level dialogue next week between the US and China on economic and strategic issues.
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China Forestry Troubles Mount
Wall Street Journal
The latest results for China Forestry Holdings Co. Ltd., which attracted early investments from the US’s Carlyle Group and Switzerland-based Partners Group, include a US$417 million loss. The company also reported that its former chief executive
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Miners drag European shares lower
Reuters
By Joanne Frearson LONDON, May 4 (Reuters)- European shares hit a two-week closing low on Wednesday, hit by weak US economic data, concern over China’s growth outlook and forecast-lagging earnings. The pan-European FTSEurofirst 300 .
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Crude oil futures drop to 2-week low on China, US demand concerns
Futures Pros
Futures Pros – Crude oil futures were down for a third day on Wednesday, dropping to a two-week low as rising US supplies and fears China would step up its monetary tightening policy weighed on prices. On the New York Mercantile Exchange, light,
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GM’s First Quarter May Be Most Profitable in 11 Years on Sales
Bloomberg
By David Welch and Craig Trudell – Wed May 04 04:00:00 GMT 2011 General Motors Co. , the largest US automaker, may report $1.74 billion in net income for the three months ended in March as rising sales in the US and China helped the company to its best
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US Dollar Mixed Amid Fading Risk-appetite
RTT News
Stabilizing prices and managing inflation expectations are critical and banks’ required reserve requirements have no absolute ceiling, the People’s Bank of China said in its quarterly monetary policy report published on Tuesday.
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Alstom Halves Dividend After Profit Falls on US, Europe Slump
Bloomberg
the US, where demand is slowly recovering from the global financial crisis. Chief Executive Officer Patrick Kron is investing and forging partnerships in fast-growing countries such as India, China and Russia to tap increased infrastructure needs.
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Stocks in US, Commodities Drop, Treasuries Advance on Economic Reports
Bloomberg
(Source: Bloomberg) The People’s Bank of China said stabilizing prices and managing inflation expectations are “critical,” after policy makers from India and Brazil yesterday signaled further tightening is possible. Photographer: Nelson Ching/Bloomberg
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China ponders its dollar problem
Investors Chronicle
No wonder, then, that strategists in Beijing have been pondering ways of reducing China’s exposure to US dollar assets. According to state media reports, delegations from the People’s Bank of China (PBoC) have been in discussions with reserve bank
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Made in the USA; Hasbro now providing domestic contract manufacturing
Gifts & Decorative Accessories (blog)
Despite the reality that 86% of the world’s toys are made in China, there is an underlying sentiment among some in the US to bring manufacturing home. Those who want to make their products in the America typically do so out of a sense of patriotism,
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Renren shares soar on Wall Street debut
MSN Philippines News
“I believe this will enhance our brand and further validate our position as the leading real name social networking Internet platform in China,” Chen said. “This listing brings us an important step closer to realizing our vision to define social
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Among China’s Up-and-Comers
Wall Street Journal
The rest of us should come for a glimpse of what the brightest young entrepreneurs in the world’s most populous country are getting up to. The event is sponsored by Students in Free Enterprise. The US-based organization pits college students around the
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U.S. men open strong in Shanghai
Universal Sports (blog)
By Universal Sports Todd Rogers of the US bumps a pass to partner Phil Dalhausser at the FIVB World Tour event in Shanghai, China on May 4, 2011. Top-seeded Americans Todd Rogers and Phil Dalhausser led three US men’s teams in going 2-0 on Wednesday,
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Siemens seeking acquisitions to tap growth
Reuters
Siemens said emerging markets on a global basis grew faster than revenue overall and contributed a third to group revenues, with those from China and India each up 20 percent. “It is positive that it has upgraded its forecast.
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Acquity Group Named Top Digital Agency by Advertising Age for Second Straight Year
San Francisco Chronicle (press release)
Our multi-disciplinary approach brings together strategy, design, and technology to create brand-unique experiences that build unbreakable customer relationships. Acquity Group is headquartered in Chicago, with offices across the US and China.
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RPT-GRAINS-US corn, wheat, soy fall on firmer dollar, weather outlook
Reuters
Robust demand for US corn has left domestic stocks at the tightest level since the 1930s, keeping prices close to record levels. High corn prices have seen feed grain buyers in China and South-East Asia switch to buying Australian feed wheat which is
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Global Luxury Sales to Grow by 8% in 2011
Forbes (blog)
The growth of luxury sales in China has been getting the most attention lately, but this current rate of growth is also being buoyed by strong first-quarter momentum in the US and Europe, according to the “Spring 2011 Update: Luxury Goods Worldwide
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In furniture industry, it’s adapt or die for US manufacturers
Bellingham Herald
The main threat to the recovery of the US furniture manufacturing industry is foreign competition, particularly from China, according to many US furniture businesses. In October, Sandberg and other furniture makers went to Washington to argue against
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LIN v. U.S. ATTORNEY GENERAL
Leagle.com
Lin indicated that there was no family in the United States that could help and his son would not be able to register if returned to China because the son was a United States citizen. The IJ denied relief, finding the asylum application untimely and
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America’s Challenge
American Enterprise Institute
China is, of course, still a very poor country with a much lower average income than we enjoy in America. Real per-capita income in China is less than one-sixth of the US level. But China’s population of 1.3 billion people is more than four times ours
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The fast and the furious
chinadialogue
They contrast the cost of a mile of high-speed rail in China, roughly US$15 million, with the estimated US$40 million to US$80 million per mile to build it inside the United States. Such concerns did not trouble the original railway barons.
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