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U.S. China News 2011.05.27

Fri, May 27, 2011

US Ambassador Says China Must Do More on N. Korea, Human Rights
Voice of America
Locke said China recognizes it must export less and focus more on domestic consumption, while the United States must export more. He said there is a great hunger and demand in China for American products and services. Locke said, if confirmed,
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South China Sea Oil Rush Heightens Conflict Risk as US Emboldens Vietnam
Bloomberg
State-owned PetroVietnam’s partner Talisman Energy Inc. (TLM) aims to begin drilling next year in a separate block that China awarded to a US rival and has protected with gunboats. Ricky Carandang, a spokesman for President Benigno Aquino,
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The U.S.China roller coaster
DoD Buzz
This week, Congress was back to a tough line, and depending on how it all plays out, relations between the US and China could cool right off once again. On Thursday, the House voted to bar Chinese companies from ever being eligible for US defense
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Book Review: ‘On China‘ by Henry Kissinger
Los Angeles Times
The former secretary of State skillfully analyzes the history of USChina relations but offers only general advice on the future. Zhou Enlai, left, and Henry Kissinger in Beijing in 1971. (Library of Congress / The Penguin Press / May 29,
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US House blocks China defence bid
BBC News
The US Senate must also pass the bill before it can be approved by President Barack Obama. Congresswoman Rose DeLauro, a sponsor of the amendment, said it would help guard US national security interests. “With China making significant progress in the
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US Commodities Day Ahead: Mississippi Crop Cargoes Drop 39%
Bloomberg
Lion Fund Management Co., the first in China to place money in foreign exchange-traded gold funds, received approval to double its overseas investment to $2 billion, said Chief Executive Officer Ao Chengwen. S. China Sea Oil Rush Risks Clashes as US
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US, China the same in many ways
Escanaba Daily Press
But the longer I’ve lived in China, the more I can start to see some similarities between the US and China. The two countries are about the same size in terms of geography, and China is actually relatively ethnically diverse, like the US (While over 90
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China warns the US: “Any Attack on Pakistan Would be Construed as an Attack on
Hudson New York
Now China threatens the US should a similar event occur in Pakistan again. The threat is backed by China’s nuclear capabilities, which include intercontinental ballistic missiles (ICBMs) that can target both Europe and United States.
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China’s Nobao scraps IPO plans for 2nd time
Reuters
China’s Nobao Renewable Energy Holdings Ltd shelved its plans to list on the New York Stock Exchange for the second time in as many years, the latest victim of investor fatigue triggered by the wave of Chinese companies flocking to US exchanges.
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China Yuan Down Late On Dollar Demand From Oil Firms
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan fell against the US dollar late Friday despite the central bank set a record-low dollar/yuan reference exchange rate for a second straight session, as import settlements by oil companies boosted demand for the
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NZ Dollar Rises to 3-Year High on Optimism China Will Buy; Aussie Gains
Bloomberg
By Monami Yui – Fri May 27 15:58:29 GMT 2011 New Zealand’s dollar rose to the strongest level since March 2008 versus its US counterpart, approaching a record high, on speculation China will buy the South Pacific nation’s assets to diversify the
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Home Inns Says Bought China’s Motel 168 Chain For US$470 Million
Capital.gr (press release)
HONG KONG -(Dow Jones)- Nasdaq-listed Home Inns & Hotels Management Inc. (HMIN) said Friday it bought the company that owns China’s Motel 168 chain from Morgan Stanley (MS) and other shareholders for US$470 million in cash and stock.
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NEWSMAKER-Pansy Ho plays winning hand in $1.5 bln MGM China IPO
Reuters
By Farah Master HONG KONG May 27 (Reuters) – The IPO of MGM China will make it the latest US casino affiliate to go public in Hong Kong and make Pansy Ho, daughter of Macau’s legendary casino magnate, worth $5 billion on paper.
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OIl quiet ahed of long holiday weekend in US
International Business Times
The drought is projected to continue and as such we can expect China to continue to import above normal levels of diesel fuel for the foreseeable future. Diesel fuel inventories in both the US and Europe have been declining during a period of time when
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Business Highlights
BusinessWeek
By AP WASHINGTON (AP) — From the US to Europe and even to booming China, the global economic recovery is showing signs of strain. Most major economies are expected to keep growing, but evidence is mounting that many are struggling to expand as fast as
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Not when but if it slows down
Sydney Morning Herald
Does that mean China’s extraordinary run is ending? And what are the risks for us if our main customer should stumble? Like most of us, I’m no China expert. But over the years, we’ve all seen warning after warning that China’s record growth is about to
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METALS-Copper pares gains on US data, month end supports
Reuters Africa
“Prices are doing well at the moment, but I don’t see that you can have a sustained rally right now given the macro backdrop and tightening and power problems in China as well as inflation pressures. ” Base metals were getting help from a falling US
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Two Convicted in US Over Counterfeit Cisco Gear
PCWorld
Authorities in the US and Canada have been looking into import fraud involving China since 2005. The jury’s Tuesday verdict also convicted a second suspect, Donald Cone of Maryland, of conspiracy, the statement said. Cone, Zhao and Zhao’s family
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Is China cause for concern?
Youngstown Vindicator
Arturo Valenzuela, the outgoing head of the US State Department’s Latin American affairs bureau, says he’s not losing sleep over China’s growing economic inroads into Latin America. Countries in the region are beginning to discover that they have much
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China: “enemy” or “strategic competitor” to US?
Hot Air
To be sure, it’s clear that there are tense international situations where China not only leans, but occasionally takes rather open glee in positioning themselves on the opposite side of the fence from us. It’s also no secret that where it comes to
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US Trade Deficit grows to $571 billion, driving GDP growth down to 1.8% in 1st
Ideal Taxes Association
On May 13, the United States and China concluded the third meeting of the USChina Strategic & Economic Dialogue. The joint factsheet issued after the meeting gave the Chinese government a free pass to continue their currency manipulations.
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North Korean Dependence on China Trade Rises as Sanctions Worsen Isolation
Bloomberg
The city has drawn many businesses from countries including China, Hong Kong, Thailand and Australia, KCNA said April 6. Kim’s trip to China came as US envoy Robert King was visiting North Korea to assess the country’s food needs.
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LinkedIn to be ‘cautious’ about China approach
San Jose Mercury News
By Bloomberg News LinkedIn, the first major US social-media company to go public, said it will be “cautious” in its approach to China and won’t rush in with a product that doesn’t work. China has a potential target market of 100 million professionals,
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Stocks, Commodities Rise After G-8 Statement
Bloomberg
(Source: Bloomberg) May 27 (Bloomberg) — Khiem Do, head of multi-asset strategy at Baring Asset Management Ltd. in Hong Kong, talks about the outlook for China stocks and his investment strategy. Do also discusses US stocks and the US and European
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Why Keystone Pipeline Will Weaken the US
TheTyee.ca
It’s just a ‘tar sands road to China‘. Nikiforuk lays out a surprising analayis in this, his latest Energy & Equity column. By Andrew Nikiforuk, Today, TheTyee.ca Proposed path of Keystone pipeline carrying oil sands crude south to US Gulf coast.
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We’re Fueling Terrorism by Paying OPEC: Pickens
CNBC.com
The US is sitting on top of a huge supply of natural gas, he said — so much that American companies are selling it to China and other countries. “So here we are, we’re exporting our clean-burning fuel and importing dirty oil from the enemy,” he said.
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Rare attention: Mineral scarcity puts a spotlight on supply issues
Fairbanks Daily News-Miner
When China announced in December it would reduce exports of rare earth elements for the second year in a row, a great deal of attention was given to the fact that the United States has become almost entirely dependent upon importation for these
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China Investing… Everywhere
istockAnalyst.com (press release)
With its monumental foreign exchange reserves, China is investing seemingly everywhere. Everybody knows about massive holdings of US treasuries – China is the largest foreign buyer of our debt, sitting on well over $1 trillion in bonds and notes.
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Tiffany-Twisted China Gets The Mercedes-Benz
Forbes (blog)
Daimler AG recently reported a 56% year-on-year increase in sales in China for the month of April. China is currently the third biggest market for Daimler following Germany and the US Increasing market share of Daimler in China and continued growth in
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Golf Pros Find Greener Fairways in China
BusinessWeek
“There’s a net decrease in golf courses in the US,” says Jeff Olyniec, a 36-year-old Alabama native who works at China’s Palm Island Resort, referring to the 107 courses that closed in the US last year, according to the National Golf Foundation.
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US Farm Exports May Increase to Record $137 Billion
Bloomberg
China is the top destination for shipments, projected at a record $21 billion, followed by Canada at $18.5 billion, the USDA said. The increased sales are benefiting US agricultural exporters such as ADM, which has gained 26 percent in the past year.
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First Solar Shines To $144
Forbes (blog)
First Solar is now the only major US-based independent solar panel manufacturer after the Total Group snapped up 60% of SunPower’s equity recently. Companies based in China like Suntech Power and Yingli Green Energy have given other solar industry
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Rethinking China Part 2
Supply Chain Digest
Last week, the respected consultants at Boston Consulting Group released a report predicting that by 2015 – just four years – all-in costs to produce and deliver goods from China to the US will be on par with making the goods in the US.
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