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U.S. China News 2011.05.25

Wed, May 25, 2011

China’s Shale Gas Could Be the Biggest Boom Yet for US Companies
Seeking Alpha
It can do this with a mix of tax incentives and various rebates available, for example, to US companies that develop shale gas fields in China. The US oil industry doesn’t bother much with politics. The companies go where there is money to be made.
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US still leads, despite growth of India, China: Obama
Daily News & Analysis
Place: London | Agency: PTI Despite the emergence of new powers like China and India, the US and its European allies were still “indispensable” and remained the ‘greatest catalysts’ in global affairs, US President Barack Obama said today.
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US calls for restraint among Spratly claimants
Philippine Star
“The United States shares great trade with China, We have a larger trade with ASEAN. But we need to trade with them both…. Trade with the United States and China in a peaceful manner,” Thomas said. Thomas lauded the diplomatic position taken by the
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China fever’ sweeps US tourism industry
People’s Daily Online
The International Pow Wow 2011, hosted by the US Travel Association, kicked off in San Francisco on May 23. More than 5500 delegates from 70 countries took part in the three-day convention, and China’s contingent to the conference included more than
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China Is Key to America’s Afghan Endgame
New York Times
By ANATOL LIEVEN LONDON — The affairs of Afghanistan and Pakistan are becoming the biggest test of whether the United States and China can cooperate to maintain global peace and stability in the 21st century. They are an even bigger test of this than
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How China Plans to Leapfrog the American Economy
The Market Oracle
(And it’s Not What You Think) – Many Americans are already concerned about China’s growing economic challenge to the United States. Indeed, the challenge itself is hardly news anymore. But a new book, Red Alert by Stephen Leeb, argues that Americans
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Taiwan caught in ChinaUS diplomatic speak
Asia Times Online
It has been seven years since a US chairman of the Joint Chiefs met with his Chinese counterpart, and this was the first time that China and the US had held high-level military talks since Beijing cut military ties in protest at US arms sales to Taiwan
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Quick Facts: USChina Trade
Press TV
The Chinese have used their new wealth to purchase US securities like Treasury Bonds and mortgage bonds, and real estate. The Provocateur China bought US Treasuries to support the value of the dollar, and keep its exports cheap.
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US Spends Its Way to Chinese Solution
CNBC.com
For years America has warned, lectured and cajoled the Chinese to allow the yuan to rise in a bid to end the fiscal imbalances that have seen more and more US debt sit in the People’s Bank of China’s vaults. The Chinese clearly do not like being told
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China’s Yizumi now buying stake in US-based HPM service center
Plastics News
The company also wants a much stronger presence in the United States and some European markets, Yan said. Yizumi claims to be China’s largest die-casting machine maker and the sixth-largest injection machine maker. It also plans to analyze HPM’s
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US looks to reduce dependence on China for critical minerals
UPI.com
A US House of Representatives subcommittee hearing Tuesday addressed the concern that domestic demand for minerals like rare earth elements far outweighs domestic supply, forcing the United States to depend on China, a nation with its own rising
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Japan ranks third on global peace index, US behind China
The Tokyo Times
Other countries on the report that may be of interest include the United States, which sits two places behind China in 82nd, between Gabon and Bangladesh. The five lowest ranked countries are Somalia, Iraq, Sudan, Afghanistan and North Korea.
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US writers sue Baidu over Internet block
Asia Times Online
However, Preziosi said conspiracy by Baidu and China “permeate US borders” and violates the First Amendment. An Internet search engine is a “public accommodation” that cannot discriminate, he added. His view point is not shared by many.
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Chanos Misses Out as Chinese Stocks in US Plunge on Accounting Concerns
Bloomberg
Photographer: Nelson Ching/Bloomberg May 24 (Bloomberg) — Jim Chanos, president and founder of Kynikos Associates LP, talks about his strategy for Chinese stocks listed in the US, the European debt crisis and China’s real estate market.
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Copper Prices Shine on China, Housing Outlook
TheStreet.com
By Andrea Tse 05/25/11 – 12:40 PM EDT NEW YORK (TheStreet) — Copper prices were popping on optimism about the US housing sector, China’s economic development plans and a bullish Goldman Sachs report. The drivers diluted the impact of a weekly
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10:46 China offers US$3mln non-refundable aid to Peru
Andina – Agencia Peruana de Noticias
The Government of the People’s Republic of China informed Peru’s International Cooperation Agency (APCI) about a non-refundable aid of 20 million Yuan, or 3’072726 dollars for projects that both countries agree to carry out in the future.
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China Appeals WTO Ruling in Tire Dispute with US
IndustryWeek
By Jill Jusko China notified the World Trade Organization on May 24 that it would appeal the global trade body’s December 2010 ruling that upheld the United States‘ increased tariffs on certain tire imports from the Asian nation.
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HK Dollar Down Late; Europe Debt, China Growth Concerns Linger
Wall Street Journal
HONG KONG (Dow Jones)–The Hong Kong dollar fell for a third straight day against the US dollar Wednesday, weighed by lackluster local shares, continued concerns over slowing growth in China and European sovereign debt woes. In late Asian trade, the US
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Analysis: Roar of China’s global bank growth more like a whimper
Reuters
Compared with developed economies, emerging markets are less saturated by competition, and China’s longstanding trade and foreign aid relationships with the developing world provide a boost for the mainland banks. In the United States and Europe,
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Analysis: Lagarde would change style, not substance at IMF
Reuters
Lagarde appears to have enough support in Europe, the United States and China to handily defeat any potential challengers to head the IMF. Critics say she is an economic lightweight who has not distinguished herself with any landmark legislation during
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Rosneft, China to discuss oil pricing in mid-June
Reuters
NEW YORK (Reuters) – A planned modernization of the US national power grid will cost up to $476 billion over the next 20 years but will provide up to $2 trillion in customer benefits over that time, according to industry experts.
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Analysis: iPad prospects spur Brazil high-tech drive
Reuters
“LCD technology is dominated by Taiwan, Korea, Japan and a growing part in China. We are thinking of the next step that will allow us to catch up with these countries — we are designing a new industrial policy,” he said. The network of services to
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U.N. sees risk of crisis of confidence in dollar
Reuters
Treasury Secretary Timothy Geithner said on Wednesday the US government would “never default on its obligations.” Assessing the broader global economy, the UN report said recovery from the 2008 financial crisis continued to be led by China,
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Mapletree to launch three new property funds in China, Vietnam, Japan
Channel News Asia
Mapletree will also use US$500 million to US$1 billion for its new China fund. The fund’s assets will be in first and second tier Chinese cities. The fund will acquire mixed developments with residential components in China. Chua Tiow Chye, Group Chief
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CIC Subscribes To US$60 Million Of Huaneng Renewables Hong Kong IPO – Source
NASDAQ
HONG KONG -(Dow Jones)- China’s sovereign wealth fund China Investment Corp. has agreed to buy US$60 million worth of shares in Huaneng Renewables Corp. ( 0958.HK), a person familiar with the situation said Wednesday, becoming the latest cornerstone
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US, European banks invest billions in cluster bombs: NGOs
AFP
The US financial titans JP Morgan Chase and Goldman Sachs are joined by Royal Bank of Scotland, Germany’s Deutsche Bank and China’s Changjiang Securities in a “hall of shame” of investors in cluster munitions. They are among 166 private and public
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Australian Dollar Down Late On US Bank Concerns, Greece Concerns
Wall Street Journal
Shares in South Korea, China and Japan also fell victim to the loss of confidence across the region, fueling more selling of so-called high risk currencies like the Australian dollar. Dealers said the Aussie was already under pressure with recent
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Suing Cisco to Censure China
Motley Fool
According to the plaintiffs, Cisco is providing China with the Internet infrastructure necessary to track and harass members of FG. So why not sue China? US courts are much more amenable to this kind of lawsuit, and thanks to the United States’ “Alien
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Can Hollywood Afford to Make Films China Doesn’t Like?
TIME
Last year alone, China’s box-office earnings grew by 65%, raking in over $1.5 billion. American studio executives are paying attention: China was the second highest earnings market for Avatar, just behind the US, according to Artisan Gateway,
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Locke may face tough grilling as China ambassador nominee
The Seattle Times
“I’m interested to hear Secretary Locke’s views on the USChina relationship and the direction we are headed,” Risch said Tuesday in a statement. “Given his current position as Commerce Secretary he is uniquely qualified to address issues about China’s
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Barack Obama bolsters transatlantic relationship in Westminster speech
The Guardian
Obama insisted that Europe and the US would not be eclipsed by booming economies in the east. Warning of profound challenges ahead, he said: “The international order has already been reshaped for a new century. Countries like China, India and Brazil
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Black Gold: Oil ETFs Surge On Surprise Rise In US Stockpiles, Stronger China
Barron’s (blog)
The latest report came on the heels of an analysis completed Tuesday by Platts showing that China’s oil demand in April increased 8.3% from the same month last year. That was the third highest gain on record. “Concerns about growth in China and
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Obama: Values unite UK and US
The Independent
“Our action, our leadership, is essential to the cause of human nature so we must act and lead with confidence in our ideals and an abiding faith in the character of our people who sent us all here today.” The rapid growth of countries such as China,
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Possible Republican presidential candidate Huntsman visiting Los Angeles
89.3 KPCC
US ambassador to China Jon Huntsman gives the annual Barnett-Oksenberg lecture on Sino-American Relations in Shanghai on April 6, 2011. Former Utah Governor Jon Huntsman, a possible Republican presidential candidate, is scheduled to conduct private
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Asian Stocks Fall as Europe Debt Crisis, US Economy Spur Profit Concerns
Bloomberg
A report last week showed US industrial output stalled in April. Output was unchanged after a 0.7 percent gain in March, figures from the Federal Reserve showed. This week, a Chinese manufacturing gauge fell to its lowest level in 10 months. China’s
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Resources Global eyes Chinese firms going global
Reuters
More employers globally and in the United States are finding it tough to find skilled technicians, sales agents and engineers, according to ManpowerGroup (MAN.N). “We want more critical mass for India and China because of the size of the market and the
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Suntech Reports First Quarter 2011 Financial Results
PR Newswire (press release)
WUXI, China, May 25, 2011 /PRNewswire-Asia/ — Suntech Power Holdings Co., Ltd. (NYSE: STP), the world’s largest producer of solar panels, today announced financial results for its first fiscal quarter ended March 31, 2011.
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Citic Securities Plans Sale of Fund-Manager Stake
Wall Street Journal
HONG KONG—Citic Securities Co., China’s largest securities firm by market value, said Wednesday it aims to sell a 51% stake in its wholly owned asset-management company for at least 7.56 billion yuan (US$1.16 billion). The brokerage firm is seeking to
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Global Insider: US-Turkmenistan Relations
World Politics Review
Second, the emergence of China as a key energy actor in Eurasia has limited the success of Obama’s financial offer to Turkmenistan: US attempts to use financial means to establish fruitful relations with Ashgabat have been constrained by recent
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Food Inflation Accelerating as Nestle, McDonald’s React to Commodity Surge
Bloomberg
Dry weather during this year in Europe, China and the southern Great Plains of the US may cut crop yields, while floods along the Mississippi River this month may slow planting of corn, soybeans and rice. The US is the world’s largest agricultural
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US persuaded Turkey, France to stop Pakistan-bound ships: WikiLeaks
The Nation, Pakistan
The American ambassador to Taiwan said that China was providing nuclear parts to Pakistan. In 2009, he wrote about Pakistan-China nuclear cooperation, and that Pakistan was buying parts from Taiwan and China to be used in missiles.
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Huntsman a different sort of GOP candidate
San Francisco Chronicle
Jon Huntsman Jr., President Obama’s former ambassador to China, is the potential presidential candidate in 2012 who Time Magazine calls the Republican that “Democrats fear most.” Republican Jon Huntsman Jr., the former US ambassador to China,
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Officials Admit Dam Flaws
Radio Free Asia
The drought is being blamed largely on a lack of recent rainfall in the Yangtze delta region, home to 400 million people and accounting for 40 percent of China’s national economy. But the US $22.5 billion Three Gorges Dam project itself is also a
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Asian Shares Mostly Lower; Econ Worries Drag Shanghai Market
Wall Street Journal
China’s Shanghai Composite Index fell 0.2%, Hong Kong’s Hang Seng Index was off 0.6% and India’s Sensex lost 0.3%. Dow Jones Industrial Average futures were down 72 points in screen trade. Tuesday’s German Ifo survey and US new homes data topped
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Why Wall Street Is Betting Against GM
DailyFinance
Another GM challenge is China, where it is generally acknowledged that the US company and VW are the market share leaders. China may be the world’s largest car market, but the rapid increase in the growth of sales there has slowed as the Chinese
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An American in Wonderland
Sydney Morning Herald (blog)
The game has been developed in Shanghai by a new studio called Spicy Horse, and American McGee claims it is the first AAA game to be wholly developed in China. Screen Play chatted with American McGee, senior creative director at Spicy Horse,
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Donenfeld Favors Stocks in U.S.-Listed Chinese Companies
Washington Post
May 25 (Bloomberg) — Alan Donenfeld, founder of Paragon Capital LP, talks about investing and corporate transparency in China. He speaks in London with Maryam Nemazee on Bloomberg Television’s “The Pulse.” (/Bloomberg) Correction: Clarification:
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World Wind Outlook: Down But Not Out
RenewableEnergyWorld.com
In China, wind contributed 1.2 percent to overall electricity supply, while in the US, wind’s share reached about 2 percent. By the end of 2010 about 670000 people were employed worldwide, both directly and indirectly, in the various branches of the
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68-Member Delegation to Join Governor O’Malley on Economic Development Mission
TMC Net
The Governor will also deliver high level speeches at the Nanjing Center at Johns Hopkins University, the first major institution in China by a US university, and at Renmin University in Beijing, where he will speak on Maryland’s State Stat initiative.
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