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U.S. China News 2011.05.30

Mon, May 30, 2011

Asia Stocks Swing Between Gains and Losses on US Economy, Gold
Bloomberg
Pu also discusses the outlook for Federal Reserve monetary policy, US and China economies. He speaks in Hong Kong with Susan Li on Bloomberg Television’s “First Up.” (Source: Bloomberg) Asian stocks swung between gains and losses after reports showed
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Yuan Advances to a Record After U.S. Seeks Faster Appreciation
San Francisco Chronicle
May 30 (Bloomberg) — China’s yuan climbed to a record after the US said China has made “insufficient” progress in letting its currency gain and urged faster appreciation. The People’s Bank of China raised the currency’s reference rate 0.06 percent to
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Copper in New York Declines for First Day in Five on US Economy Slowdown
Bloomberg
“The rally last week was driven by expectations that demand will continue to pick up in China.” US payrolls are expected to rise by 185000 workers in May, following a 244000 increase in April, according to the median forecast in a Bloomberg News survey
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COMMENT: Denial vs arrogance: the Pak-US tangle —Shahzad Chaudhry
Pakistan Daily Times
Maybe China’s rise and its importance as the US’s banker is what the good doctor ordered for the US’s long-term health. May China rise faster to cause the necessary cures in the US’s compulsive possessive disorder, just as denial has become one
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RPT-GLOBAL ECONOMY WEEKAHEAD-Beware a manufacturing slowdown
Reuters
That reading is expected to be confirmed on Wednesday, as are factory slowdowns in the United States and China, where curbs on bank credit and power shortages have slowed growth, adding to worries about the world’s second-largest economy.
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Vietnam and China oil clashes intensify
Financial Times
“When we conduct seismic survey and drilling operations, they [China] have aeroplanes flying over to survey our activities, they harass us with their vessels, and in extreme cases they cut our [exploration] cables,” said Do Van Hau,
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China Yuan Hits Fresh Record High Late Amid Inflation Concerns
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan rose to another record high against the US dollar late Monday after the central bank guided the currency higher via a reference exchange rate amid concerns about intensifying inflationary pressures.
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China talent has designs on smallest rooms
Financial Times
The global plumbing fixtures company designed its top of the line “Numi” toilet in the US and China. While the Numi is targeted at US and Chinese consumers, it has several features inspired primarily by China’s entertainment- obsessed consumers – not
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Why the world won’t match predictions
Taranaki Daily News
One, because it is more realistic about China, whose economy is currently the biggest bubble in world history. And two, because it offers predictions for the world’s 30 biggest economies, not just the top 10. China’s economy, at US$25 trillion (NZ$31t)
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Who’s to blame when gas costs $1 more than last year?
USA Today
“Worldwide demand for oil, particularly from China and India, is up while production is flat.” Felmy argues that all commodity markets, including crude oil, need speculators “to provide the liquidity that any functioning market requires” to attract
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The New Rules: Why the US Should ‘Give’ Af-Pak to China
World Politics Review
But Clinton’s trip and the Obama administration’s instinctive embrace of Islamabad is a fool’s errand, doomed by history, geography and globalization itself. In fact, the US should drop the entire Afghanistan-Pakistan mess in China’s lap now,
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China’s Trade Surplus To See Continuous Decline
CRIENGLISH.com
The Ministry of Commerce expects China’s trade pattern this year to closely resemble last year’s, with the country’s trade surplus dropping substantially. Last year, China’s trade surplus was 196 billion US dollars, a dip of 34 percent over the
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Ojas Ventures Co-Invests In US-Based Social Gaming Start-Up Play140
VC Circle
BY PRIYANKA BANERJEE Bangalore-based Ojas Venture Partners, along with SOS Ventures of China, invested in the US-based Play140, a social gaming start-up. However, Ojas has not disclosed the deal size to VCCircle. Play140 was founded in 2010 by three
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PRECIOUS-Gold buoyed by Greece debt fear; China margins weigh
Forexyard
With national holidays in the United States and Britain sapping liquidity, trading volume in US futures was less than one-tenth its norm. In Asia, traders said a hike in margins by the Shanghai Gold Exchange kept sentiment in check.
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CHINA: The BFF You Can Depend On
Strategy Page
For example, while China recently pledged to speed up delivery of fifty JF-17 jets (an F-16 knock off that Pakistan helped, largely with cash, to develop), it also expects to be paid. The US gives Pakistan F-16s. China, however, has pledged to be
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China Marine’ Dispatches Parcels to Deserving Troops
DVIDS
(US Marine Corps photo by Gunnery Sgt. Timothy C. McMann) CAMP LEATHERNECK, Helmand province, Islamic Republic of Afghanistan – It has been more than six decades since the last Marines left China in 1949. Their post-World-War II assignment is
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Myth and reality of American aid
Pakistan Observer
China and Russia are particularly alarmed by the renewed American unilateralism. Both are increasingly sympathetic towards Pakistan’s predicament and are deeply concerned about fresh US inclinations towards unilateralism. Russian and Chinese reactions
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Market “Jitters” Over China, as Scotiabank Commodity Price Index Soars in
CanadianBusiness.com
After reaching a record US$330 per tonne in the 2011: April-to-June quarter, contract prices in Asia for Western Canada’s premium-grade hard coking coal will likely drop to about US$280 in the July-to-September quarter. While steel output in China
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A pile of global problems
Livemint
The Washington Post recently carried a news story on the Chinese having brought down their holding of US treasurys in the last five months. It is true that China has brought down its treasury holdings. But that is only part of the story.
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U.S. Markets: Conservative Strategies in Favor
Seeking Alpha
Last week was another relatively quiet one in the US financial markets. Uninspiring economic data, lowered growth estimates for China, and debt crisis management in the EU couldn’t inspire much excitement. Among major indexes we follow, the only moves
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Developing countries fail on IMF consensus
Financial Times
There has long been a battle in Latin America for the role of regional powerbroker, and countries such as Brazil are often suspicious of Mexico’s political, economic and geographical proximity to the US. China and India are nuclear-armed strategic
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DIARY: Australian GDP, US Jobs, Euro Inflation, Employment
International Business Times AU
Offshore we get the usual start of the monthly surveys of manufacturing sectors in China, India, Europe and the US, while the May jobs data will be the big release for America on Friday night, our time. In Australia, Wednesday March quarter National
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Microsoft’s China Revenues Plundered by Pirates
China Digital Times
Already the biggest market for cars, cellphones, and commodities like iron ore, China is on track to surpass the US as the world’s largest PC market next year, according to IDC. This year, the market research firm projects PC unit shipments in China
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On trade, senators are worlds apart
Columbus Dispatch
And Portman’s staff can produce volumes of examples of his calling for China to modify its currency to make it easier for US companies to sell their goods there. But don’t kid yourself. When it comes to trade agreements, Port-man will vote yes,
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Stock prices up globally, but on low volume
Christian Science Monitor
European governments are struggling with debts and squeezed budgets. High unemployment, depressed real estate and still-high oil prices are slowing the US economy. In China, interest-rate hikes designed to reduce inflation are slowing growth.
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China Researcher: Should Make Strategic Use Of FX Reserves
Wall Street Journal
BEIJING (Dow Jones)–China should make strategic use of its foreign exchange reserves, such as by using them to help Chinese financial institutions expand abroad, a Chinese government researcher said Monday. With the US dollar depreciating,
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China expands lead in renewable energy technology: index
China Post
China’s score out of 100 increased to 72 from 71 last quarter, while the US remained in second place at 67 points in the consultant’s quarterly Renewable Energy Country Attractiveness Index released on Thursday in an e-mailed statement.
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Funds Revive Ag Bets as Drought Hurt Crops
Bloomberg
The Standard & Poor’s GSCI Agriculture Index climbed for the second straight week as droughts lingered in China and Europe while excess moisture delayed planting in the US and Canada. Last week, Goldman Sachs Group Inc. and Morgan Stanley signaled a
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Cambridge House International Inc.: Critical Materials Investment Symposium
Marketwire (press release)
The market for high-grade electrolytic manganese (EMM) is controlled by China. The US has no producing manganese mines. We rely entirely on China. China is pulling back on its EMM exports. Manganese is critically important in numerous applications.
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US Oil Sanctions Against Venezuela May End Up Helping Chavez
Wall Street Journal
His government says Venezuela has grown less dependent on the US because of growing ties with countries such as China and Russia, and has even hinted that a diplomatic break with the US was among the options under consideration by Caracas.
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Corn futures rally to 4-day high on increased China demand
Forex Pros
Forex Pros – Corn futures rallied to a four-day high on Monday, after the US Department of Agriculture confirmed US exporters sold corn to China last week, boosting demand expectations from the world’s second largest corn consumer.
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Miami Pending Home Sales in April Up 13%, Buyers Coming From Mexico, India and
World Property Channel
There is also increasing demand from buyers in countries such as Mexico, India, China that historically have focused on California and western US markets.” Nationally, the Pending Home Sales Index, a forward-looking indicator based on contract signings
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Reunions: Discussion focuses on new roles of US power
The Daily Princetonian
“If you look at the problems that we’re facing … it’s very easy to see how much more easily soluble those issues are if we are working together as partners” with powers such as China, he added. Revere added, however, that the United States should
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Utah and other states push gold as legal tender, prepares for US dollar collapse
International Business Times
Georgia introduced (but not passed) a bill that would have the state government only accept US minted gold and silver coins for payment (ie tax payments). Meanwhile, the world is also slowly pushing to diminish the role of the US dollar. China and
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Reports: Hackers Use Stolen RSA Information to Hack Lockheed Martin
DailyTech
Some suspect China may have been behind the clever assault. (Source: KEAITU) Over a week has passed and Lockheed Martin Corp. (LMT), the US government’s top information technology services provider, was hacked. The attack has been characterized as a
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MOFA welcomes US senators’ support of arms sales
Taiwan Today
The US-made F-16C/D is essential for Taiwan to upgrade its self-defense capabilities in the face of the growing military threat from mainland China. (Courtesy of USAF) By Elaine Hou The ROC Ministry of Foreign Affairs thanked the 45 US senators who
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