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U.S. China News 2011.06.06

Mon, June 6, 2011

Geithner: No Risk To US As China Moves Toward More Flexible Currency
Wall Street Journal
WASHINGTON (Dow Jones)–US Treasury Secretary Timothy Geithner said Monday he sees no “meaningful” risk to the US economy from China’s evolution toward a more market-determined exchange rate system, a more convertible currency and fewer restrictions on
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China IP: The Easy Fix for US Economic Woes?
Business Insider
IP enforcement has been one of the top issues for discussion at every single important bilateral meeting between the US and China for well over a decade. Slaughter has apparently not taken a look at the agendas of past meetings of the USChina Joint
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China Denies Role in US Cyber Attacks
TMC Net
By Beecher Tuttle, TMCnet Contributor China’s defense minister on Sunday reiterated the nation’s denial in having any involvement in a series of cyber attacks on US security systems. “The Chinese government attaches importance on cyber security and
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US pledges to protect allies in the South China Sea
Phayul
Filipino President Benigno Aquino on Friday told reporters that China trespassed into the Philippine’s territorial waters on seven different incidents in less than four months. The Vietnam protests come on the heels of US Secretary of Defence Robert
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Clean Energy Race Sees China Leading USA
EarthTechling
Highlights from the report show that China achieved its highest score ever in the “all renewables” index, trumping the score the US once held in the third quarter of 2007. The US held steady at number two in terms of hospitable conditions for renewable
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U.S. Commodities Day Ahead: Wheat Rallying 20% on Parched Fields
Bloomberg
By Stuart Wallace – Mon Jun 06 11:31:51 GMT 2011 The worst droughts in decades are wilting wheat fields from China to the US to the UK, overwhelming Russia’s return to grain markets and driving prices to the highest levels since 2008.
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Waiting for China’s Response to U.S. Payroll Numbers
Seeking Alpha
By Tim Seymour If you really want to test global markets’ nerve, see what happens if China raises interest rates in the teeth of the these US payroll numbers. Markets in China, Korea and Taiwan are all closed on Monday for the Dragon Boat Festival,
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Oil-Supplier Musical Chairs Being Played by China, US, & South America: XOM
Small Cap Network
Ultimately though, it’s China, Brazil, Argentina, and Venezuela that are winning the underlying political and financial contest, with the United States and its close allies left holding the bag. Simply put, China and South America have been forging
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China paper blusters at Google amid hacking affair
CNET (blog)
But in terms of economic might, China is the US‘ landlord. And with the Republicans seeking to make cuts everywhere, where will the US government find “hundreds of millions of dollars” to buy up Renmenbi? by gerrrg (2396 comments ) June 6,
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Top 5 Graphs: Aussie GDP, U.S. and China PMI, Monetary Policy
Seeking Alpha
Then we examine the slight fall in China’s manufacturing PMI (purchasing manager index), as well as the US manufacturing PMI shocker. Following that is a quick check in on US consumer confidence and housing market. Finally a review of some monetary
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China, US won’t rock Taiwan boat
China Post
Rather, the issue is finalization — whereby the quid pro quo arrived at by Washington and Beijing in the 1970s has provided the premises for Taiwan to tilt towards China eventually. When the US and China normalized relations in 1979,
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Avoiding a Double Dip Recession, or Worse
Fox Business
Oil and goods from China account for the entire US trade deficit — on everything else, trade is balanced. The United States produces only 5.6 million barrels a day of oil and imports 9.6 million barrels — gasoline accounts for 8.3 million barrels.
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China linked to new breaches tied to RSA
CNET (blog)
Google specifically said the attack originated in China and that Gmail accounts of human rights activists in the US, China, and Europe were separately compromised. Yahoo, Symantec, Northrop Grumman, and Dow Chemical were reportedly among the 30 or so
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S. Korea’s Kogas eyes more shale gas buys in Canada, US
Reuters
[ID:nN09296031] That was China’s third acquisition on shale gas plays after CNOOC Ltd’s twin deals with US firm Chesapeake Energy Corp . If China can adapt the technology for use it home, it has huge shale gas potential. The US government estimates
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China aviation industry chief backs legal action on EU CO2 plan
Reuters
Among the most affected will be Air China, China Southern Airlines and China Eastern. “I believe we have to take legal action,” Wei said, adding Air China was preparing to launch a legal challenge. The US industry group Air Transport Association of
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NIA Releases U.S. Economic and Inflation Update
PR Newswire (press release)
Federal Reserve holdings of US treasuries just reached a new record of $1.532 trillion. Meanwhile, China’s US treasury holdings have fallen five months in a row down to $1.145 trillion. Chinese central bankers are now calling for the country to reduce
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Asian stocks fall after weak US jobs figures
The Associated Press
Markets in Hong Kong, South Korea and mainland China were among those closed for holidays. While pessimism has been on the rise amid data pointing toward an easing of the US economic recovery, analysts said a slowdown was not altogether unexpected,
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Lead seen rising as China battery clampdown fades
Reuters
China’s auto market is expected to grow slower this year after two years of breakneck expansion. The US auto industry snapped a four-year sales decline in 2010. Most analysts expect double-digit growth in 2011 and more gains in 2012.
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FIVE QUESTIONS ON PAKISTAN: Can The US-Pakistan Relationship Be Salvaged?
Business Insider
I don’t think that it’s a zero-sum game between the US and China in Pakistan. More or less, our interests overlap, including our interest in advancing a counter-terrorism, counter-extremism and stabilization agenda. We don’t necessarily put those
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2011 WCup: US GK Solo says she learned from 2007
USA Today
Having beaten out Briana Scurry, the keeper for the United States when it so memorably won the 1999 World Cup — her penalty kick save in the shootout led to Brandi Chastain’s winning shot — Solo backstopped the Americans to the 2007 semifinals in
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China sends message to North Korea
USA Today
By Calum MacLeod, USA TODAY BEIJING — North Korean dictator Kim Jong Il’s secretive trip into China aboard his armored train took him to Chinese companies making cars, electronics, information technology and solar panels, prompting some experts to say
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Inside Chinese stocks craze in US (3)
People’s Daily Online
Chinese firms’ mischiefs also come from the difference between China and US regulations. According to lawyer H, who declined to disclose his full name because his firm has been overseeing many Chinese IPOs in the United States, SEC regulations are
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Where is China Looking for Commodities Discounts?
Wall St. Cheat Sheet
In order to lock-up stockpiles of much needed natural resources the Chinese government is dumping political and monetary capital into Latin American nations such as oil-rich Venezuela, to whom China recently granted a $32 billion dollar loan.
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China model unfinished without social solutions
Global Times
Sino-US relations have come a long way since the Cold War era. But with China now the world’s second largest economy, is conflict with the US inevitable? Will social issues hold China back from claiming the top spot? Global Times editor Wang Wen (GT)
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Will US Support Foreign Social Nets?
MediaPost Publications
Do foreign-born social networks stand a chance here in the United States? We could soon find out as China’s Sina Weibo reportedly prepares to release its Twitter-like microblogging platform in English in as little as two months.
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Kissinger discusses USChina relations
BYU Daily Universe
By Jordan Adams The Orem Library shared a broadcast recently of Nobel Peace Prize winner Henry Kissinger addressing his unique experiences and political views of relationships between the United States and China. “[The United States] thinks our values
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China’s factories face big, labor-driven changes
MarketWatch
Manufacturers may have been especially spooked by a report released May 5 by the US-based Boston Consulting Group, which predicted a narrowing wage gap between the United States and China over the next five years. The report said the change will
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China’s currency options
UPI.com
They know in their bones that the US dollar will sooner or later be joined by China’s renminbi. They just don’t know when. The problem with today’s currency system is that it depends on the flawed and badly managed dollar. World trade and the global
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China Likely to Avoid Japan Growth-Policy Mistakes, Roach Says: Tom Keene
Bloomberg
That’s the area that we need to look at as an opportunity for a growth-starved US economy.” Canada and Mexico import more from the US than China, trade data show. The decision by the Nobel laureate Peter Diamond to withdraw his nomination to the
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Has economic power replaced military might?
CNN International (blog)
Today, China and the US are highly interdependent economically, but many analysts misunderstand the implications of this for power politics. True, China could bring the US to its knees by threatening to sell its dollar holdings.
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Asia’s wired-up revolution
Variety
“In the US and in Europe, the traditional film business is so strong, it takes time to change. But in China, the move to new media is happening very quickly. In China there is no choice — you either cooperate or you get acquired,” says Zhang.
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SE Asia Stocks-Fall on US data; Thai stocks at 2-month low
Reuters
Southeast Asia’s weakness came in low volume of just two-thirds the 30-day average, with some big Asian centres shut for holidays, including China , Hong Kong , South Korea and Taiwan . The weakest US jobs growth in eight months in May knocked the
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Benjamin L. England to Present at the FDLI USChina Food and Drug Law
Food Consumer
This conference, taking place in Beijing, China on June 13 and 14, 2011, will bring expert thinkers and top government officials together to discuss food and drug regulation and policy in the United States and China. This event is hosted by FDLI and
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Get With the Plan
Huffington Post (blog)
Because there is almost no manufacturing capability for natural-gas vehicles in the United States. Rather than support manufacturers in China and India, this credit would help jump-start that industry here, adding jobs up and down the supply chain.
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Shoshone-Paiute Tribes Announce Support for China Mountain Wind Project
PR Newswire (press release)
“Renewable energy, energy without burning fossil fuels, is needed to reverse changes affecting us all, everywhere. It is no longer sufficient to say that this is a problem that can be solved by other people in other locations,” said Terry Gibson of the
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Rare Earths in China to Rally Even Amid Slowdown, Guotai Says
San Francisco Chronicle
Delays in projects coming on stream from the US and Australia will ensure that China continues to be biggest producer until at least 2013, Sang Yongliang, the company’s metals and mining analyst, wrote in a June 3 report. China has clamped down on
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What Not To Do In Iowa
Mother Jones
A January Pew survey found that 36 percent of Americans had an unfavorable view of China, and the percentage of Americans who see China as the country posing the greatest threat to the US nearly doubled over the past two years, eclipsing North Korea,
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Slowing US Raises Economic Stakes For Currencies
Wall Street Journal
In response, economists have further cut global economic forecasts, having already adjusted to Japan’s earthquake, China’s monetary tightening and the euro-zone’s debt funk. But currencies have reacted in a more mixed way, with the dollar both gaining
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China’s Rise: A Quest To ‘Hug The World’?
NPR
When the United States took over from Britain as the predominant world power 100 years ago, the transition was like one between brothers — or cousins, at least. And the two countries remain close allies to this day. The rise of China in relation to US
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