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U.S. China News 2011.05.16

Mon, May 16, 2011

US Navy drones: Coming to a carrier near China?
The Associated Press
YOKOSUKA, Japan (AP) — The US is developing aircraft carrier-based drones that could provide a crucial edge as it tries to counter China’s military rise. American officials have been tightlipped about where the unmanned armed planes might be used,
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Commentary: China will increase investments in Latin America
Kansas City Star
It has already started in Latin America, where China’s foreign investment more than doubled in 2010. And it’s beginning to take off in the United States, although in a smaller scale because of US concerns over the potential national security threats of
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US China Mining Group, Inc. Reports First Quarter 2011 Financial Results
PR Newswire (press release)
The composition of sales for each respective period is as follows: “We continue to benefit from strong demand for coal in China,” explained Mr. Hongwen Li, President of US China Mining Group. “Production and sales were up significantly during the first
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U.S. hosts China’s top general
DoD Buzz
For example, China’s anger at the US has prompted it to withdraw permission for American warships to make long-scheduled visits to its cities. But for all the symbolic importance of Chen’s visit, don’t look for an earth-shaking accord.
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GOING PUBLIC: Frothy Investors Weigh On Asian IPOs In US
Wall Street Journal
By comparison, only one of the six non-China deals that debuted during that time is trading down. Analysts and bankers say a rush of momentum investors seeking the next hot deal have been piling into Chinese stocks that are listing in the US,
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Global Demand for US Assets Fell in March
Bloomberg
China and the US remain at odds over foreign exchange policy. After meetings last week in Washington, Chinese Deputy Finance Minister Zhu Guangyao said the US and China agree that the yuan should be allowed to strengthen. However, “the view from the US
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Dr. K’s Rx for China
Newsweek
Main: US Treasury Secretary Timothy Geithner at the USChina Strategic and Economic Dialogue in Washington DC, on May 9, 2011. Chinese Vice Premier Wang Qishan (center) and State Councilor Dai Bingguo (Left) are also pictured. Inline: US Secretary of
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Q&A: Bringing Chinese Manufacturing Jobs to the U.S.
TIME (blog)
And our US operations will have to deal with that. How important is a faster appreciation of Chinese currency to US job creation? Currency could help but it also could hurt. Structural issues are more fundamental for the US and China.
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Now Is It the United States‘ Turn to Make China Economically Dependent?
AllGov
The automaker’s booming sales have been driven by China’s demand for luxury Buicks, minivans and economy Chevrolets. In 2010, GM sold more cars in China than in the United States. The company is expected to continue to be more successful with Chinese
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European debt fears and US dollar rise see China markets stumble
Global Times
By Li Xiang in Shanghai Both Shanghai and Shenzhen markets ended Monday’s trading with a drop in indices and a contraction in market turnover, over fears from the European debt crisis and affected by the continuing increase of the US dollar against a
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China is losing its wage advantage; will U.S. respond?
North Bay Business Journal
And then there are the uncertainties surrounding intellectual property rights and government intrusion in countries like China. US high-tech companies offshored production because it was competitively unthinkable not to. It was a matter of survival in
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China Sourcing Fair Serves North and Latin American Buyers
Independent Retailer
But rather than relying on the stock of a wholesale supplier, independent retailers have been given an opportunity to buy directly as Global Sources presents a new sourcing option with its first US China Sourcing Fair. To be held July 11 to 13,
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Virginia delegation to return to US with some pending trade deals
Washington Post
Bob McDonnell said Monday that the state trade delegation’s gatherings with managers and executives in Japan, China and South Korea have resulted in about six business agreements, with a particular focus on agricultural exports including soybeans and
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Should America Stiff China?
truthout
Any serious ethical argument on this question turns upon the fact that China has not honored obligations it has assumed towards us, so therefore we are not obliged to honor our obligations towards it. This sounds like a technicality, but in fact,
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Japan purchased US debt in March despite crisis
Sacramento Bee
China, the largest foreign holder, cut its holdings by $9.2 billion to $1.14 trillion. It was the fifth straight month that China reduced its purchases of US debt. Total foreign holdings increased by $4.9 billion to $4.48 trillion.
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SEC to clamp fraudulent China firms entering US market
Commodity Online
In the USA, there is something that we call as dragon frenzy. It is a new found enthusiasm for Chinese stocks listed in US stock exchanges like NASDAQ and NYSE. The buzz in the alley is that China is a growth story and Chinese companies are the next
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Sina’s Booming Microblog Attracting US Attention
Cabot Wealth Advisory
The 140 million registered users on Sina’s microblog site, Weibo, is attracting the attention of American Internet companies like Facebook, Twitter and YouTube that want to get into China, the New York Times reported. China has the world’s largest
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Hollywood eyeing China for growth
Minneapolis Star Tribune
A US proposal seeks to double the number of foreign movies that can be screened in the country. “Avatar” is one of only about 20 foreign films a year that China has allowed to be shown in its theaters. Photo: Weta, Associated Press Hollywood’s chief
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China Set To Spend US$2.8 Billion on Inner Water Ports by 2015
Business China
On 3rd May 2011, China announced an ambitious 18 billion yuan investment (US $2.8Billion) from 2011-2015 to deepen part of the lower Yangtze river’s navigation channel to allow vessels of up to 50000dwt to sail from the estuary of the river all the way
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US travel industry hits out at burdensome visa system
Expat Forum
by Ray Clancy on May 16, 2011 The complicated US visa system hurts tourism and must be reformed if the United States wants to attract lucrative tourism from countries like China, India and Brazil, according to travel industry chiefs.
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U.S. corn futures rise over 2 pct on talk of China buying, slow planting
Reuters
SYDNEY May 16 (Reuters) – US corn futures surged more than 2 percent in early Asian trading on Monday after talk of renewed buying of US corn by China and expectations that a US government report will show the pace of planting of the US crop remains
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High debt in US and other countries will impact Canada as well, says Carney
The Canadian Press
Advanced economies face a protracted period of slow growth as they struggle to come out from under a mountain of debt, while emerging economies such as China will face the opposite challenge of restraining inflation. “In this environment, domestic
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China’s Innovation Policies – The Real Danger for the U.S Economy???
NL-Aid
US experts and politicians are starting to hone into the ‘dangers’ of R&D and technology transfers to China, as the most serious long-term threat to the US economy and national security. US comparative advantage (innovation and new technologies) is
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Wes Moss: Should we fear China’s growth?
Atlanta Journal Constitution (blog)
China growing wealthier doesn’t mean America will grow poorer. Quite the opposite is true. China’s rapid economic expansion the past few decades has generated huge opportunities for US companies. Walk into a 200-year-old teahouse in Shanghai and you
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Autos fuel rise in platinum, palladium demand
MarketWatch
Automotive palladium demand in China climbed 42%. Meanwhile, palladium investment demand jumped by 74% to 1.09 million ounces, with “heavy buying into US ETFs,” according to the report. But jewelry demand for the metal declined by 20% to 620000 ounces,
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US Navy drones: Coming to a carrier near China?
Forbes
By ERIC TALMADGE , 05.16.11, 05:32 AM EDT YOKOSUKA, Japan — The US is developing aircraft carrier-based drones that could provide a crucial edge as it tries to counter China’s military rise. American officials have been tightlipped about where the
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IPO Pipeline Maintains Strength as Private Equity-Backed Companies Go Public
Sacramento Bee
Fifteen of the 19 foreign-owned companies are from China, representing $788 million, compared to a total of $585 million for other foreign-owned companies. “The pipeline’s increasing number of China-based companies is also a result of attractive US
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Boyuan Construction Q3 profit increases 47 per cent to US$3.17 million
Winnipeg Free Press
to US$3.17 million in its fiscal third quarter. The builder of commercial, residential and municipal infrastructure projects, which is registered in Canada but all of its operations in China, earned 10 cents per share for the period ended March 31.
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US about to hit debt ceiling
ABC Online
NEAL WOLIN: Well I think that bilaterally the US and China have made important progress in our bilateral relationship. That’s important for our respective economies, but also for the global economy because we’re the two biggest economies in the world.
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DONG v. ATTORNEY GENERAL OF U.S.
Leagle.com
Dong is a citizen of China who entered the United States without a visa in 2001. The Department of Homeland Security (DHS) charged him with being removable under section 212(a)(6)(A)(i), as an alien who arrived in the United States without permission.
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Chinese Artist’s Wife Sees Him for First Time Since His Detention
Voice of America
Posner’s comments came at the end of two days of USChina human rights talks in Beijing. AP Another human rights controversy surfaced last week, during high-level USChina strategic and economic talks in Washington. In an interview with the Atlantic
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CNinsure CEO leads bid to take company private
Forbes
AP , 05.16.11, 11:19 AM EDT GUANGZHOU, China — The CEO of CNinsure Inc. is leading a bid to take the Chinese insurance company private in a buyout that would be worth $953 million. Shares of CNinsure shot up more than 30 percent Monday morning on the
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Special report: In Libyan oil shipment, sanctions prove dumb
Reuters
Oil traders believed it would unload in China. It never made it. Since refueling in Singapore on April 28, the Equator has sat anchored off the archipelago. AIS live ship tracking data on Reuters, based on satellite signals sent from the vessel,
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China Shen Zhou Reports 2011 First Quarter Financial Results
PR Newswire (press release)
On January 13, 2011, China Shen Zhou Mining & Resources, Inc. signed an equity transfer agreement with the shareholders of Xinyi Fluorite Company Ltd. and agreed to pay RMB 65 million (approximately US$ 9.85 million) to acquire a 55% equity position in
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U.S. Commodities Day Ahead: Gold Coins Show Bull Market Unbowed
Bloomberg
China, the world’s biggest soybean importer, has started selling the oilseed and cooking oil to processing companies at discounted prices to help curb food costs, said three people with direct knowledge of the matter. Growing demand for aluminum is
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VanceInfo Reports Solid Results for the First Quarter 2011 and Raises Full
PR Newswire (press release)
The increase in net revenues was driven by continued growth of the Company’s business from the US, Europe and Greater China (including Mainland China, Hong Kong, Taiwan and Macau) markets. Growth from the Japanese clients slowed in the first quarter
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China Open To ‘Long-Term’ Talks On Forex-Trade Minister
Wall Street Journal
Brazil and China did $20 billion in trade in the first four months of this year, with Brazil posting a $1.6 billion trade surplus. China surpassed the US as Brazil’s top trade partner in 2009. Following talks with Chen on Monday, Brazilian Trade
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Time to buy US automakers?
Globe and Mail (blog)
As well, GM and Ford have been stumbling in China. According to last month’s sales figures, released last week, Ford’s sales in China rose a disappointing 3 per cent in April while GM’s sales declined during the month, dashing industry expectations.
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China central-bank adviser: Be careful with taxes
MarketWatch
By China Bureau SHANGHAI (MarketWatch) — One of the lessons China should learn from developed countries like the US is not to revise individual income tax regulations frequently just to temporarily encourage or punish people for certain economic
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Overhaul urged of US visas for foreign visitors
The Seattle Times
The association would like to focus those efforts on countries such as Brazil, India and China, where foreign travel is on the rise. Other proposals include extending consulate office hours to Saturdays and adding a second shift to process visa
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Iran Sanctions Bill Introduced in Congress
Global Security Newswire
last week to EU foreign policy chief Catherine Ashton said his country was willing to hold a new meeting with Germany and the five permanent UN Security Council member nations — China, France, Russia, the United Kingdom and the United States.
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How A (Stealth) Black Hawk Down May Trigger Asia’s 21st Century Arms Race
Fast Company
To that end, any snippets of current US stealth technology gleaned from the tail rotor may prove to be a boon for China’s stealth capabilities, which leaves most analysts underwhelmed. Even the suggestion that China has gotten the smallest leg up on
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