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U.S. China News 2011.06.08

Wed, June 8, 2011

China Surpasses US As World’s Biggest Energy Consumer
Fox Business
By Jennifer Booton China surpassed the US last year as the world’s largest energy consumer, according to an annual report by British oil giant BP (BP). China moved to the top spot of energy consumption in 2010 with 20.3% of global demand,
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U.S., China, India Favorites for Green M&A, KPMG Survey Shows
Bloomberg
By Natalie Obiko Pearson – Wed Jun 08 08:16:35 GMT 2011 The United States, China and India are likely to attract the most merger and acquisition interest in clean energy this year, according to a survey by KPMG LLP. Deals are expected to outpace
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China On US Debt Ceiling Debate.
International Business Times
K. Cameron Lau | Jun 08, 2011 | 1min:24sec VIDEO > China On US Debt Ceiling Debate. According to Chinese central bank advisor, Li Daokui, “The US is playing with fire over its debt ceiling debate and there is a risk a US debt default may happen.
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US Wins WTO Dispute: China Revokes ‘Protectionist’ Wind Subsidies
Energy Collective
After having some of its wind power equipment subsidies disputed by the United States at the World Trade Organization, China has revoked its Special Fund for Wind Power Equipment Manufacturing subsidies. The US challenged that the subsidy was illegal
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Potentially Unsafe Food Entering US from China
NorthcentralPa.com
One in 11 canned peaches consumed in the US comes from China; 20 percent of frozen spinach and half the cod consumed in the US come from China. US food safety oversight of Chinese food processors has not remotely kept pace with the exploding number of
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Hong Kong Top Court Blocks U.S. Fund’s Congo-China Suit, Citing Immunity
Bloomberg
By Debra Mao – Wed Jun 08 09:58:11 GMT 2011 Hong Kong’s top court ruled that the Democratic Republic of Congo can’t be sued in the city, saying China’s policy is one of absolute immunity for sovereign states. Justices Patrick Chan, Robert Ribeiro and
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Walkers Advises on US$1.5 Billion MGM China Holdings IPO
Business Wire (press release)
Valued at US$1.5 billion, international press reports have ranked MGM China Holdings Limited’s IPO as the fourth biggest gaming IPO globally. The world’s largest gaming IPO was Sands China’s US$2.5 billion Hong Kong listing in November 2009,
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Naval ambitions
BBC News
Last month the visit of Chen Bingde, the Chief of the General Staff of the PLA, to the Pentagon was trumpeted as an effort to improve long-strained military relations between the US and China. US and Chinese military bands played together as Gen Chen
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China looms large in US trade deal rethink
Business Day
While the US has hinted at its intention to taper the benefits arising from Agoa, the final decision is likely to be influenced by China’s growing commercial clout on the continent. An analyst warned of dire consequences for US influence in Africa if
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FACTBOX – Listing rules in China vs U.S.
IBNLive.com
REUTERS – A growing number of Chinese companies listed in the United States are becoming embroiled in accounting scandals. However, that is unlikely to stop more companies from China trying to list in America, say experts. This is because the listing
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US should draw lessons from arms race
China Daily
The United States must attach great importance to China’s core interests and carefully deal with the issues surrounding them. Any action that hurts China’s core interests will not only affect ChinaUS relations and damage the peace and stability of
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Should (could) Pak, US bond be broken?
Pakistan Observer
Instead of the United States, China and others being at cross-purposes there, the regional powers might team up not only in trying to keep a lid on Pakistan’s combustible dynamics, but also on the thorny problem of the endgame in Afghanistan.
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China’s policy a wake-up call for the US
China Daily
By Dieter Ernst (China Daily) Only a few years ago, China’s approach to innovation barely played a role in international economic diplomacy. Today, China’s innovation policy and its perceived threat to the US economy are a hot topic in USChina
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China to have 4 times as many skyscrapers as US
Global Times
Photo: CFP By Li Mao in Shanghai A new skyscraper is built every five days in China and by 2016 the country will have 800, four times the number in the US, according to a report released Monday by the Shanghai-based Skyscrapers Magazine.
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Ford: We’ll hire 7000 in US over next 2 years
CBS News
Jarvis said, “Do you think it’s safe to say that, with this focus on China and on India, perhaps there’s a view that, here in the United States, things still hold a lot of uncertainty?” The Ford executive said he’s “very confident” that with federal
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current issue: Manufacturing Disinvestment in China?
Automation World
Zinser noted that executives should not make the mistake of comparing the average labor costs for production workers in China and the US when making investment decisions. The costs of Chinese workers are still much cheaper, on average, than comparable
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US expert lauds Party’s achievements
China Daily
By Qin Jize (China Daily) BEIJING – A leading US expert on China studies on Tuesday hailed the achievements made by the Communist Party of China (CPC) over the past 90 years, but said that tackling corruption remained an urgent task for the Party,
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US Vows to Maintain Presence in Asia Despite Budgetary Woes
DailyTech
There is a lot of concern over tensions in Asia with the growing military might of China and new weapons that could possibly deny the US access to sea lanes in a conflict. China’s strength coupled with the financial issues in Washington that are seeing
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Jardine Selected For USA Basketball Tryouts
SUAthletics.com
13-23 in Shenzhen, China. The USA Basketball Men’s Junior National Team Committee, chaired by NCAA representative and Syracuse head cocah Jim Boeheim, is expected on July 31 to announce finalists for the 2011 USA World University Games Team.
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As Talk of US Default Gains Traction, Fitch and China Say Up Yours
Wall St. Cheat Sheet
Li Daokui, an Advisor to the China Central Bank, said of a temporary default, “I think there is a risk that the US debt default may happen…The result will be very serious and I really hope that they would stop playing with fire.
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Q&A on Doing Business in China
TheStreet.com (blog)
Before I left, I asked several American colleagues if they had any questions they’d like me to ask the “real” Chinese about their perceptions of both China and the US On Monday, I met with a group of my followers on the Twitter-like SINA(SINA) Weibo
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US yields on trend lows after 10-year auction
FXstreet.com
US 10-year notes are at their lowest yields since December 3 after a very strong auction of US 10-year notes. I guess the market don’t need Pimco and China after all. ;) . Lower yields tend to be a drag on the dollar but with Greece back in focus today
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Fight or flight in the South China Sea
Asia Times Online
According to the International Energy Agency: The hydrocarbon resources of the South China Sea are little known. Several unconfirmed Chinese reports place potential oil reserves at 213 billion barrels, while the US Geological Survey (USGS) estimated
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President Obama’s letter exchange with Chinese Economist on the USChina
Business Insider
Thanks for your reply to my last letter on the currency conflict between the US and China. Right now many people in the west are quite anxious about the rise of China. Many people in China are very skeptical about the US ‘s intention towards rising
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Singapore commentary discusses China’s positive global role
American Chronicle
He shared China’s plans to build 200 schools for the developing nations, send 3000 medical experts, train 5000 medical staff, and offer medical equipment and medicine for 100 hospitals. China will also donate US$14 million (S$17 million) to the Global
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China’s Cyber Attack on Google Presages Era of Digital Warfare (video)
Singularity Hub
After some investigation US officials determined that the hackers were located in China. The sophistication of the attacks, said the US, could only mean that the Chinese government was involved. Incensed Chinese officials reminded the world that they
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Cut Pakistan Loose
Wall Street Journal
The time is right for Islamabad’s three chief bankrollers, the US, China and Saudi Arabia, to cut it loose. So far the onus of preventing really bad outcomes in Pakistan—the most extreme of which is represented as a jihadi takeover of the nuclear
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China’s boomtown to offer more paternity leave than U.S.
GlobalPost (blog)
Dads in China’s bustling Shenzen province? 30 days off. Paid. According to details of a soon-to-be-enacted decree, translated from the Chinese press by the excellent China Hush blog, the province’s “fast pace of life” has compelled the government to
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Francis Fukuyama: Democracy still rules. But will US catch up in a changing world?
Christian Science Monitor
Political scientist Francis Fukuyama discusses the crumbling European Union, what the West should learn from China, and the power of – and problems with – democracy. Francis Fukuyama has just published a new book, “The Origins of Political Order,”
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US patent reform: Law to impact overseas firms
China Daily
By John D. Murnane and Anna Y. Huangfor (China Daily) A reform bill now working its way through the United States Congress is poised to make the most comprehensive changes in the nation’s patent law in nearly 60 years. The Senate overwhelmingly passed
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Apple supplier Hon Hai seeks hi-tech future
Reuters
Hon Hai has faced higher costs ever since it sharply raised wages in China following a series of suicides at its plants last year that critics blamed on poor working conditions. Last week at the Computex computer show in Taiwan, Ray Chen, president of
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Smithsonian’s ‘Made in America’ gift shop opens
Washington Post (blog)
By Ed O’Keefe These presidential busts, made in China, won’t be sold in the new gift shop. (Bill O’Leary – WASHINGTON POST) A gift shop selling only items designed and made in the US opens today on the third floor of the National Museum of American
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US playing with fire on debt default China central bank
Moneycontrol.com
The United States is “playing with fire” if it opts to briefly default on its debt, which could undermine the dollar, Li Daokui, an adviser to China’s central bank said on Wednesday. Speaking on the sidelines of a forum, Li said China needs to dissuade
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Injury-riddled Yao Ming frets over future in game
Reuters
The 30-year-old has triggered NBA-mania in China since being selected first overall by Houston in the 2002 draft but has been cursed by injury in the United States. Yao insisted, however, it would be hard to leave the Rockets because of injury or a
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Smithfield Foods, Chinese port operator sign trade agreement
Daily Press
Although nonbinding, the deal could bolster Smithfield’s efforts to further penetrate the growing pork market in China, already the world’s largest pork consumer. During the first quarter of 2011, China imported $45.2 million worth of US pork,
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Deutsche underweight emerging stocks; cites China
Reuters
MSCIEF have been flat in 2011, hurt by concerns over Chinese policy tightening and the stuttering US recovery. Of the big emerging indices, Shanghai is down 2 percent, Sao Paulo 8 percent, and India — the biggest loser — dropping more than 10 percent
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Suzhou Eastern Sunrise: Potential Increase in Annual Turnover by US$3M by
PR Newswire (press release)
base of Kwang Yang Motor Co., Ltd. (“KYMCO Motor”) in the mainland China. It is expected that the volume of products supply will gradually be increased to help Suzhou Eastern Sunrise achieve annual turnover of RMB20 million (about US$3 million).
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U.S. Ocean Container Exports Jump 12.5% in April for 19th Straight Increase
PR Newswire (press release)
The growth comes after a 13.9 percent year-over-year growth in March and left US containerized exports up 12.3 percent through the first four months of the year. “Despite a cooling in the manufacturing sectors of China and other key US markets,
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iRobot sets path to Latin America, China: CEO
Reuters
By Soham Chatterjee BANGALORE (Reuters) – iRobot Corp, whose products clean homes and disarm bombs in war zones, expects to see better growth overseas this year as the United States, its domestic market, keeps a tight rein on spending.
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Yuan to Apppreciate 3% by Year-End: Strategist
CNBC.com
The Chinese currency hit a record high of 6.4759 against the US dollar on Wednesday after the People’s Bank of China (PBOC) fixed the reference point at the strongest level against the greenback since revaluation in 2005. Some think Beijing is likely
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Carstens: US, Canada not behind any IMF candidate
Reuters
Emerging nations have not rallied behind Carstens and there is hope in some quarters that another candidate will emerge that can win the backing of the so-called BRICS countries — Brazil, Russia, India, China and South Africa.
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Research and Markets: Analyzing Renewable Energy in the United States
Business Wire (press release)
The US was the largest producer of electricity from wind power, solar power and geothermal sources in 2009, coming in second to China in the overall production of renewable energy. The US has one of the largest wind power installed capacities in the
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Womack Returns from China Financial Planner Summit
NewsReleaseWire.com (press release)
Greg Womack, President of Edmond’s Womack Investment Adviser, Inc., spent nearly two weeks in China as a guest of that country’s Financial Planning Standards Board and the US Certified Financial Planner Board. While in China, Womack and his peers
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Fed’s Dudley: US Recovery Remains ‘Distinctly Subpar’ -1
IMarketnews.com
Again, to simplify, take the case of the United States and China. The Chinese economy is experiencing the pressures of rapid economic growth that threaten to lead to overheating. Chinese wagesespecially in the coastal regions are rising rapidly and
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Dollar at Inflection Point
TheStreet.com
NEW YORK (TheLFB-Forex) — News headlines are filtering through from China that the US economic situation, and the potential threat of default on US-based debt, needs to be addressed and contained. It is becoming very clear that global markets do not
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Wednesday Morning: Something Else to Think About
Inside Futures
Another new twist could arise are the recent rumors floating around that China has been back in looking at US corn on the recent setback. From what I hear, they are not just looking at new crop, but also old crop as well. Many are now speculating that
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World stocks shrug off US economy pessimism
BusinessWeek
The benchmark Shanghai Composite Index gained 0.6 percent to 2744.30, while the Shenzhen Composite Index of China’s smaller, second exchange gained 0.7 percent to 1132.69. Meanwhile, the US economy’s failure to thrive despite two rounds of so called
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