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U.S. China News 2011.05.19

Thu, May 19, 2011

China Says U.S. Overstates Threat
Wall Street Journal
By NATHAN HODGE WASHINGTON—China’s top military officer warned that America’s tendency to “hype” the threat from Beijing could thwart better USChina military relations. In a speech Wednesday at National Defense University in Washington, Gen.
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China asks US to respect Pak’s sovereignty, independence
Hindustan Times
China has “warned in unequivocal terms that any attack on Pakistan would be construed as an attack on China”, The News daily quoted diplomatic sources as saying. The warning was formally conveyed by the Chinese foreign minister at last week’s ChinaUS
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Admiral says US would consider sending military personnel to study in China if
Washington Post
By Associated Press, SINGAPORE — The US military would consider sending officers and cadets to China on study exchange programs if relations between the two countries improve, the commander of the US Pacific Fleet said Thursday.
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US watchdog sees cross-border audit deal with China this year
Reuters
The Public Company Accounting Oversight Board (PCAOB), which was created following the Enron scandal to oversee auditors of public companies and broker-dealers, has been lobbying China to allow US inspectors check up on auditors of Chinese companies
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China Watch: Baidu Sued in US, Firewall ‘Father’ Hit with Shoe
Wall Street Journal (blog)
Eight New York residents file a lawsuit in the US against Baidu, alleging the Chinese search giant’s censorship efforts violate their Constitutional rights. Beijing’s top general warns that the US tendency to “hype” the China threat could thwart
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China Rejects Internet Censorship Lawsuit Filed in US
Voice of America
It says Baidu’s censorship violates American laws because it affects searches that originate in the United States. The Chinese spokeswoman said how China decides to manage the Internet is no one else’s business. She says the Chinese government’s
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China piracy costs almost million jobs: US study
AFP
The United States and China, the world’s two largest economies, have long sparred on trade with a number of US lawmakers accusing the emerging giant of unfairly supporting its industries to fuel exports. During talks earlier this month in Washington,
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US sailor pleads guilty to attempted China spying
Sacramento Bee
A US Navy sailor has pleaded guilty to attempted espionage for trying to sell classified documents to someone he believed was a Chinese intelligence officer. Petty Officer 2nd Class Bryan Minkyu Martin of Mexico, NY, faces a maximum sentence of life in
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China’s Stocks Rise for Third Day on U.S. Interest Rate Outlook
San Francisco Chronicle
May 19 (Bloomberg) — China’s stocks rose for a third day after the Federal Reserve signaled US interest rates will remain low and commodities rebounded. Jiangxi Copper Co. and China Shenhua Energy Co., the country’s largest producers of copper and
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US ITC Uses Ridiculous Methodology To Claim ‘Piracy’ In China Costs US Firms
Techdirt
So, I was a bit more interested to find out the details of a newly released study from the US International Trade Commission, done at the behest of the Senate, to determine the “cost” of intellectual property infringement in China.
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The United States and China: The Next Five Years
US Department of State (press release)
I would like to thank my old friend Ken Lieberthal for the kind introduction and invitation to participate in this joint Brookings-Caixin conference on what lies ahead for the United States and China. And also to Madam Hu Shuli for her thoughtful
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Google chairman: Internet blacklists make us more like China
Ars Technica
Who doesn’t think the PROTECT IP Act would make us too much like China? Forty-two US state attorneys general, who earlier this week signed onto a letter (PDF) begging Congress to pass the PROTECT IP Act before the year is out.
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China piracy cost US firms $48 billion in 2009
GayToday
It also concluded 2.1 million jobs could be created in the United States if China complied with its current international obligations to protect and enforce intellectual property rights. The most direct jobs impact would come in high-tech and other
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China’s Taomee Files For US IPO To Fuel Rapid Growth
Wall Street Journal
By Christopher Zinsli Of DOW JONES VENTUREWIRE Taomee Holdings Ltd. registered Wednesday for an initial public offering on the New York Stock Exchange in the hopes of raising capital for the Chinese company’s rapidly growing children’s entertainment
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China, Vietnam Cancel Orders for US Upland Cotton, USDA Says
Bloomberg
By Debarati Roy – Thu May 19 15:28:26 GMT 2011 China, the world’s biggest cotton importer, canceled orders for 44000 bales from the US in the week ended May 12, expanding the number of contracts scrapped in the past two months, government data show.
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CHIP’s Katherina Rosqueta: ‘India and China Will Leapfrog Past the US in
Knowledge@Wharton
Countries like India and China, she believes, are likely to leapfrog past the US in enabling impact investing. An edited transcript of the interview appears below. India Knowledge@Wharton: What does the Center for High Impact Philanthropy do?
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China Thirsts For Energy So It Won’t Be Cheap For Us
Forbes (blog)
Almost half the rolling stock of China seems to have a German mark on it – either Audi, Volkswagen or Mercedes. Now America’s manufacturers are stirring once again too. The falling dollar has lowered real US wages. As long as the developing nations
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Report: China may lose manufacturing edge by 2016
Bizjournals.com
China is losing its manufacturing cost advantage over the US and stands to lose market share during the next few years, according to an industry economist. China is losing its manufacturing cost advantage over the United States and stands to lose
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China to Speed Up Fighter Jets for Pakistan
Wall Street Journal
By JEREMY PAGE BEIJING—China has agreed to provide 50 more JF-17 fighter jets to Pakistan on an “expedited” basis, a spokesman for the Pakistani air force said, one of the most concrete illustrations yet of how China could fill the vacuum if the US
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Roubini: China Is Slowing the Recovery in the U.S. and U.K
Seeking Alpha
Nouriel Roubini, one of the few economists who predicted the new depression and understands it, argues that China’s exchange rate policy is keeping the US, UK, and some other advanced economies from recovering their economies through net export growth
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Youngest deaf uni student in China now US social advocate
Global Times
Once the youngest-ever deaf college student in China, Tingting has accomplished more with her disability than most normal people do in their whole lives. Born into a worker’s family in Nanjing, Jiangsu Province, Tingting was partly deaf at birth and at
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Longtop Short-Sellers Show Mistrust Undermines China IPO Market
Bloomberg
The US Securities and Exchange Commission has revoked the registrations of eight China-based companies since December, and more than 24 firms have disclosed auditor resignations or accounting problems to the agency since March, SEC Chairman Mary
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The sun never sets on the global south
Ahram Online
With the phenomenal rise of China which has had an average growth rate of nine per cent for the past 30 years, there is now a practical economic alternative to US subordination for countries of the global south. At a recent event on whether Asia or
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Factbox: Japan, China, South Korea: trilateral ties, tensions
Reuters
China is also wary about Seoul’s ties with the United States, especially after joint US-South Korean military exercises in the Yellow Sea late last year following Pyongyang’s shelling of the Yeonpyeong island in November. China surpassed Japan as the
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Something About Chinese Growth That Surprised Us
The Business Insider
Deutsche Bank is out with a big report comparing two of the world’s manufacturing powerhouses: Germany and China. This chart of contribution to GDP over time really surprised us. You think of China as an export powerhouse, but really, its exports’
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Former Utah governor picks Florida for campaign headquarters
Reuters
US Senator Harry Reid (D-NV) looks on as US ambassador to China Jon Huntsman (L) shakes hand with Wu Bangguo, chairman of the Standing Committee of the National People’s Congress, at the Great Hall of the People in Beijing April 21, 2011.
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Editorial Roundup: Excerpts From Recent Editorials in Newspapers Around the World
The Canadian Press
China hopes to see US-Pakistani relations improve as it is in the same boat with the two countries in fighting terrorism. During the third round of the USChina Strategic and Economic Dialogue, Beijing and Washington agreed to hold the 8th USChina
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Amid DSK Case, Theory of Replacing Ban & US Taking IMF, China WB Revived
Inner City Press
By Matthew Russell Lee, News Analysis Under that theory, if Europe lost the IMF — as seems even more possible now — and China got a top Bretton Woods institution spot, the Europeans could make a play for the 2012 UN term. Now, at least until the IMF
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Wheat, Corn, Soy May Open Higher on US, EU Weather Woes
BusinessWeek
US exporters sold 110000 metric tons of soybeans to China for delivery in the year that starts Sept. 1, the US Department of Agriculture said today. NSN LLG1G16VDKHW — Stocks rose for a second day, while Treasuries retreated, after fewer Americans
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Mexico Finds 513 U.S.-Bound Migrants
Wall Street Journal
The immigration institute said in a statement that 410 of the migrants found Tuesday were from Guatemala, 47 from El Salvador, 32 from Ecuador, 12 from India, six from Nepal, three from China and one each from Japan, the Dominican Republic and Honduras
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CRI Hourly News (updated at 13:00 2011/05/19)
CRIENGLISH.com
He stressed that the world has no need to worry, let alone fear China’s growth. But the general also warned that new US weapons sales to Taiwan would damage the ChinaUS military ties. Chinese Premier Wen Jiabao and visiting Pakistani Prime Minister
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China Ready to Invest US$ 8 Bi in Brazil While Brazilians Wish to Diversify
Brazzil Magazine
Brazil’s Minister of Development, Industry and Foreign Trade, Fernando Pimentel, says that China will invest around US$ 8 billion in Brazil in 2011. The minister went on to say that as a result of booming bilateral commerce, the two countries will need
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Euro and Renminbi threaten US Dollar
International Business Times
By 2025, six major emerging economies-Brazil, China, India, Indonesia, South Korea, and Russia-will account for more than half of all global growth the World Bank predicts. The fall-out will drastically change the landscape of the international
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Clear eyes needed to avert Sino-US clashes
Global Times
GT: Since there can only be one No.1, will China threaten US leadership? Bush: Not necessarily. I understand Chinese have a very hierarchical view of power but there is no necessity that there should be a No.1, a single super power.
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China declares war on the US.. in a computer game
Shanghaiist
In coordination with Chinese software company Giant Interactive Group, the People’s Liberation Army has developed China’s newest first person shooter; Glorious Mission. So what is the big deal? Well, Glorious Mission happens to be the first shooter to
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Bernstein: Buy US Small-Caps, European Large-Caps; Lighten Up On China, BRICs
Barron’s (blog)
China is a particular concern. Bernstein views the country’s stock markets as ripe for further contraction. India and Brazil are also likely to see further erosion as inflation derails business growth, he believes. “Lighten up on China, on India,
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Parc forms alliance to boost China’s recycling
Plastics News
By Nina Ying Sun | PLASTICS NEWS STAFF GUANGZHOU, CHINA (May 19, 11:45 am ET) — While some recyclers in Europe and North America raise concerns on the export of large quantities of plastic scrap to China, a major US plastics recycler is helping a
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US Infrastructure Woes Mount to $2 Trillion for Repairs Alone
GreenBiz.com
By Leslie Guevarra China invests 9 percent of its GDP on infrastructure; the United States, a paltry 3 percent. Western Europe is cutting greenhouse gas commissions as it links rail and road systems for moving people and freight efficiently.
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A Rare-Earths Showdown Looms
Wall Street Journal
In a case brought by the US, the European Union and Mexico, WTO judges disagreed with China’s contention that its restrictions on exports of a variety of raw materials—including coke and bauxite—are necessary to protect human health or conserve
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Huaneng Renewables Relaunches HK IPO; Aims To List June 9 – Source
Wall Street Journal
By Yvonne Lee and Prudence Ho Of DOW JONES NEWSWIRES HONG KONG (Dow Jones)–Huaneng Renewables Corp., the wind power unit of China Huaneng Group, plans to raise around US$1 billion in its relaunched Hong Kong initial public offering ahead of its June 9
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Apathy Toward China Emboldens China
NewsMax.com
He, however, fails to mention the fact that already years ago China was known to have 1 billion people more than does the United States. In conclusion, he says: “I could go on and on, but I think you get the point: WAKE UP.” And here is another email.
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SHUN XIAN DING v. ATTORNEY GENERAL OF U.S.
Leagle.com
He then filed a timely motion to reopen, claiming that he had begun attending a Christian church in the United States in October of 2008, that he had been baptized on December 21, 2008, and that China had recently increased suppression of
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US senators urge strong Asia-Pacific trade rules
Reuters
The US International Trade Commission report also said the United States could create as many as 2.1 million jobs if China more aggressively enforced US copyrights, patents and trademarks on products ranging from software to pharmaceuticals to
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China Renewable Energy Industry Report: May 19
China Briefing
This is equal to 7.3 percent of China’s hydropower capacity and 17 percent of Huadian’s energy mix. In 2010, the company’s hydroelectric units generated 1.21 million MWh. Huadian operates thermal electric, hydropower and wind power plants in China. •US
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LeBron Conquers Kobe in China With NBA Title Giving Nike $4 Billion Boost
Bloomberg
Last year, James had the second-best-selling NBA jersey in the US, China and Europe behind Bryant. Coca-Cola uses James to promote brands including Sprite and Powerade. Beatriz Perez, chief marketing officer for the Atlanta-based company’s North
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Ford to build first transmission plant in China
The Associated Press
China’s auto market last year overtook the US as the world’s largest. Sales rose 32 percent last year to over 18 million vehicles, but have slowed to single digit growth so far this year. “Together with prior investments announced in the past few years
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Manufacturing attempts a comeback in upstate New York
Kansas City Star
Kaloyeros hopes his mix of public and private, competitive and cooperative effort will reduce the flow of investment and jobs to countries such as China – revitalizing American manufacturing and with it the US economy. “There’s never an end zone,” he
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Gold Prices and the US Economy
International Business Times
The American economy is still the largest in the world with a $14.7 trillion Dollar GDP followed now by China at nearly $6 trillion. The problem is that the employment structure of the US economy has, in the last 30 years, shifted very much to service
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U.S. brass mill imports, exports up in March yr/yr
Reuters
Canada was the leading destination for US exports of brass mill products in March at 8290123 lbs, followed by Mexico at 7993979 lbs, China at 1528883 lbs, Malaysia at 592028 lbs and Saudi Arabia at 496392 lbs. Imports were largest in March from Germany
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A Flight Plan for the American Economy
TIME
There is now a single world market for many goods and services, and over the past 10 to 15 years, about 400 million people — from China, India, South Africa, Indonesia and elsewhere — have entered the global labor force, offering to make the same
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