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U.S. China News 2011.06.01

Wed, June 1, 2011

The Cable: US and China set for military talks in Singapore
Foreign Policy
Since then, Gates was allowed to visit China, US-China military-to-military relations resumed, and the improvement in relations was cemented by a January state visit to Washington by Chinese President Hu Jintao. This year, Gates wants to stress
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Hong Kong Stocks Drop on Concern Following China, U.S. Reports
San Francisco Chronicle
June 1 (Bloomberg) — Hong Kong stocks fell as economic reports from the US and China raised concerns that global economic growth may slow. Foxconn International Holdings Ltd., the handset manufacturing unit of the world’s No.
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Bovespa Index Declines on US May Employment Report, China Manufacturing
Bloomberg
By Ney Hayashi – Wed Jun 01 14:47:14 GMT 2011 The Bovespa stock index dropped, extending two months of declines, after reports showed manufacturing cooled in the US and China, Brazil’s biggest trading partners. Vale SA, the world’s largest iron-ore
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US Admiral Willard Says He’s ‘Concerned’ About South China Sea Tensions
Bloomberg
US Navy Admiral Robert Willard said he’s concerned about recent tensions involving China and its neighbors in the South China Sea as they vie for oil and gas resources in disputed waters. The Philippines filed a diplomatic protest after Chinese vessels
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US Seeks Cooperation With China as it Boosts Engagement in Southeast Asia
Voice of America
Obviously there’s a degree of competition in any relationship, and there is that between the United States and China, but we want to make sure that we work together in an appropriate manner in Southeast Asia,” he said. US involvement in Southeast Asia
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Sino-American Collision Course And The Crowning Of Oil And Gold
Business Insider
But 40 years ago, would Dr Kissinger and President Nixon foresaw this rosy picture of bothers-in-arms between China and the US. Would Chairman Mao do what China now does for the US? We are tempted to say NO. It’s still the same ruling class though but
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Factory Growth Slows in Europe, US
Bloomberg
Photographer: Andrew Harrer/Bloomberg Manufacturing growth from China to the euro region and the US slowed in May, adding to signs that momentum is weakening in a global economy facing headwinds from rising commodity costs and regional shocks.
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Dollar, Metals Drop on U.S. Growth Concern; Asian Stocks Advance
San Francisco Chronicle
June 1 (Bloomberg) — The dollar traded at a three-week low versus the euro and metals declined before reports likely to show the US recovery is cooling and as manufacturing growth slowed in China. Asian stocks rose, led by technology companies.
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China, not US, key to global oil demand
Globe and Mail
In the resulting zero sum world, conflicting trends in oil consumption between the world’s two largest oil consumers, the US and China, will not be the exception but the norm. If the Chinese economy is going to continue to increase its oil consumption
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China’s Sinking Competitiveness
Knowledge@Wharton
According to the Boston Consulting Group (BCG), a “manufacturing renaissance” in the US is underway as the wage gap between the US and China narrows dramatically. That gap is shrinking largely because manufacturing wages are rising far more quickly in
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UCI, Fudan University form USChina business, law institute
OC Metro
By Kristen SchottPublished: June 01, 2011 10:42 AM UC Irvine and Fudan University in Shanghai have formed a new bilateral USChina institute focusing on the fields of business and law. Officials from UCI’s Paul Merage School of Business and School of
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China Information Technology Announces New US$3.5 Million Contract with the
PR Newswire (press release)
SHENZHEN, China, June 1, 2011 /PRNewswire-Asia-FirstCall/ — China Information Technology, Inc. (Nasdaq: CNIT), a leading provider of Information Technologies and Display Technologies based in China, today announced a newly signed contract worth US$3.5
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Nokia’s Elop: Android is killing us in China, Europe
ZDNet (blog)
By Larry Dignan | May 31, 2011, 12:38pm PDT Nokia’s biggest profit margin killing headaches appear to be Android, China and Europe and the company is getting hit by smartphone and feature phone pricing and volume. Larry Dignan is Editor in Chief of
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China slows its runaway high-speed rail expansion
USA Today
The same may not be true for a country such as the United States. China enjoys the “cross benefit” of having state-operated passenger and freight networks, so new, dedicated passenger lines free up space for freight trains on existing lines,
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Rep. West Warns US Needs Bigger Navy to Deal With China’s Military Threat
Fox News (blog)
US officials should realize China is an economic and military threat to America, and take steps – like building a bigger Navy – to combat Beijing’s moves, Rep. Allen West (R-Fla.) said Tuesday. “We have to admit that China is a conventional threat to
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US Manufacturing Probably Expanded at Slower Pace Amid Supply Disruption
Bloomberg
Blitz also discusses the US labor and housing markets. Blitz speaks with Lisa Murphy on Bloomberg Television’s “Fast Forward.” (Source: Bloomberg) Honda Motor Co., Japan’s third-largest carmaker, said its North American and China vehicle production
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US fresh fruit sales on rise in China
FreshPlaza
ATO Guangzhou successfully facilitated the sales of US fresh fruit in South China with a series of marketing efforts and trade matchmaking services such as jointly themed fruit promotions, buyer missions, handling seminars as well as display contests.
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China’s Wind Power Capacity Grew More than 60% in the First Quarter of 2011
Inhabitat
by Brit Liggett, 06/01/11 In 2010, China overtook the United States in installed wind power capacity when they reached the 42287 megawatt benchmark. With their wind power capacity already up 60% in the first quarter of 2010, and plans on track to
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China Draws A Line On Pakistan: But An Apocalypse In The Making? – Analysis
Eurasia Review
The article added that the death of Osama bin Laden has offered a chance to Pakistan, the US and China to work together to combat terrorism. China cleared any misconceptions in the US political and public community that it was surging to replace the US
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The Future of China Sits Right on the Tip of Its Tongue
Huffington Post (blog)
The United Arab Emirates recorded US $4.45 billion in exports to China in 2010, with exports going into the UAE from China pegged at US $21.4 billion in the same year. However, there’s one large barrier still standing between China and the rest of the
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Canadian dollar slips amid disappointing US economic data, lower oil prices
The Canadian Press
Precious metal prices were higher with the August gold contract in New York ahead $12.40 to US$1549.20 an ounce. Base metals were lower after data showed China’s manufacturing sector easing in April. The state-affiliated China Federation of Logistics
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China Yuan Edges To Record High Late On Central Bank Guidance
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan rose to another high against the US dollar late Wednesday after the central bank set a record-low dollar/yuan reference exchange rate for a fifth straight session. On the over-the-counter market, the dollar was at
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Analysis: Auditors in China burned by cash balance scandals
Reuters
Many Chinese companies have found it easier to get a listing in the United States than on Chinese exchanges. Yet they have fallen through a regulatory loophole, partly because US audit inspectors have not been allowed inside China where the audits are
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US Is Still Tops for Millionaires, but the Developing World Is Gaining
DailyFinance
“The United States had by far the most millionaire households (5.2 million), followed by Japan, China, the United Kingdom, and Germany,” the survey pointed out. One of the major story lines in this report is the stagnation of wealth growth in developed
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Private-Equity Bulls in a China Swap
Wall Street Journal
Some China-focused funds seem to think so. Chinese small-cap firms listed in the US have seen their shares dragged down by a drip of scandals in unrelated companies. More than a dozen Chinese firms have been suspended from trading in the US amid
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WikiLeaks: Irish government resisted US pressure over China arms embargo
Belfast Telegraph
A series of secret documents from the WikiLeaks Ireland cache show the US State Department in Washington was extremely concerned at reports the EU was planning to lift its arms embargo against China. In Dublin, the US Embassy made repeated attempts to
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China Lobbies Washington for Arms
The Weekly Standard (blog)
The 1990 law limiting USChina military contacts exempts humanitarian operations and exercises, and China has recognized the value in pursuing those activities as a way of getting around the broader restrictions. For years, Beijing has failed in its
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Former PBOC Vice Gov: US Quantitative Easing Not Wrong, Misunderstood
Wall Street Journal
Wu’s comments are in sharp contrast to past criticisms by Chinese officials, including China’s banking regulator and China central bank governor Zhou Xiaochuan, about the easing policy. Many Chinese officials have voiced concerns about the US Federal
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Bond investors predict solution to debt-ceiling debate but long-term concerns
Washington Post
Beyond the politics, however, longer-term worries about rising debt levels in the United States remain. Tuesday’s vote against raising the ceiling earned a chiding note from an official newspaper in China — the biggest foreign holder of US Treasury
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China Unlikely to Challenge US Military Supremacy, Says Lee Kuan Yew
The Chosun Ilbo
Former Singaporean Prime Minister Lee Kuan Yew says China is unlikely to challenge the US‘ military supremacy in the near future. Speaking at the 17th International Conference on the Future of Asia in Tokyo, Lee said China’s military buildup “is an
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US Shows Slowed Growth on Enormous Base
Diamonds.net
Currently, the price setters for polished and the leading targets for sales are China and India. Their actual numbers are smaller than the US but they are the leaders in terms of setting the pace, the trends and the prices of the market.
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Cotton hits 3-day high on concerns over U.S., China crops
Forex Pros
Forex Pros – Cotton futures were up for a second day on Wednesday, climbing to a three-day high on mounting concern that adverse weather in the US and China would further tighten global supplies. On the ICE Futures US Exchange, cotton futures for July
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Cheniere Energy, Daktronics, SkyPeople, Stream Global: US Equity Movers
Bloomberg
The maker of wind-turbine components and transmission lines delayed filing its annual report, saying it needed time to review revenue from shipments to China and expects to exclude a “material amount” of revenue that had been included in its sales
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China Imposes Health Care Tax – Is This Enough to Reshore US Manufacturing
MetalMiner
Many of us know China’s track record with legal enforcement (especially as far as intellectual property, among others, is concerned), so this could well be a yawn. But what’s interesting is how close it hews to what is happening here within the US
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China Closes Strategic Lithium Transaction in Latin America
Business Wire (press release)
Ganfeng’s principal market is in China. The Company also exports products internationally to Europe, Japan, the US and India. Ganfeng Lithium was founded in the year 2000, was listed on the Shenzhen Stock Exchange in August 2010.
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Oil Falls as Report Shows US Companies Added Fewer Jobs Than Estimated
Bloomberg
The US and China are the world’s biggest oil-consuming countries, responsible for 32 percent of global demand in 2009, according to BP Plc, which publishes its Statistical Review of World Energy each June. An Energy Department report tomorrow will
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North Korea-China ties sealed in blood
Asia Times Online
It was an op-ed co-authored by former US ambassador to China Winston Lord and Leslie H Gelb, president emeritus and board senior fellow at the Council on Foreign Relations. Before the present Barack Obama administration, seven US administrations
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Yuan is Not a Paper Shelter for a US Dollar Collapse
Benzinga
China and its yuan have received a lot of press. However, the yuan does not seem like a great fit. China is a major exporting country and the US is its biggest customer. China also has massive foreign reserves, (which it has recently attempted to
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Economies round the world struggling to sustain expansion
New Zealand Herald
Photo / AP From the United States to Europe and even to booming China, the global economy is showing signs of strain. Most big economies are expected to keep growing. But evidence is growing that many nations are struggling to expand as fast as they
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Is China a Complete Joke?
Motley Fool
That means fraudulent practices may be systemic in China’s financial system — undermining any confidence foreign investors like us might have had. Of course, many never considered Chinese banks to be upstanding corporate citizens.
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GUO JU HUANG v. U.S. ATTORNEY GENERAL
Leagle.com
of forced sterilization if they returned to China. After thorough review, we deny the petition. We review the denial of a motion to reopen removal proceedings for abuse of discretion. Zhang v. US Att’y Gen., 572 F.3d 1316, 1319 (11th Cir. 2009).
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4 Moves Every US Investor Should Make
Uncommon Wisdom Daily
A Chinese ratings agency said QE2 is “an obvious trend of depreciating the US dollar” and “entirely encroaches on the interests of the creditors.” Our own data from the Treasury Department shows that China, for the fifth straight month,
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FPA in China: How the Chinese Invest Now and for Retirement
AdvisorOne
There aren’t many independent investment firms in China. Our Chinese counterparts told us people prefer to use banks because they have trust in the size and the stability of these institutions. Saving and investing in China is not necessarily shaped by
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Asian Shares End Mixed; Eye US Data
Morningstar.com
China Overseas Land & Investment., a developer controlled by the construction ministry, fell 1.9% after signing a syndicated loan with 11 banks. Henderson Land Development Co. dropped 1.1% after a media report that said three apartment sales by the
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David Oliver focused on 2012 Olympic gold
USA Today
By David Leon Moore, USA TODAY During the past seven years, three men have set themselves apart in the ranks of high hurdlers. By Eugene Hoshiko, AP China’s Liu Xiang (left) and David Oliver of the US race to the finish line during the men’s 110-meter
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Novo Will Boost China Investments to Fend Off Sanofi, COO Says
Bloomberg
About 8.3 percent of the US population and 6.6 percent of the global population has diabetes, according to estimates by the US Centers for Disease Control and the IDF. Novo started operating in China about 15 years ago when Novozymes A/S,
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