Skip to content

U.S. China News 2011.06.10

Sat, June 11, 2011

US-Traded China Stocks Not Good Enough for Hong Kong
CNBC.com
When I first started warning about Chinese stocks that trade in the US a year ago, during various hits on CBNC, the mantra was simple: Most were created through the backdoor process — reverse mergers. And while their market caps were relatively small,
See all stories on this topic »

US STOCKS-China, Greece hurt sentiment, Nasdaq off for the year
Reuters
A string of sub-par US economic data in the past few weeks has turned investors away from equities. China’s sales to the United States and the European Union slumped to their weakest since late 2009, excluding Lunar New Year holidays, underlining the
See all stories on this topic »

Dell to Bring 10-inch Tablet to China First, U.S. on Hold
PCWorld
By Michael Kan, IDG News Dell will first launch its Streak 10 Pro tablet in China, putting other markets like the US and Europe on hold in order to give developers more time to create the necessary apps. It will launch the Android tablet in China
See all stories on this topic »

China says the US is already defaulting on debt
USA Today
By David Jackson, USA TODAY Forget the debt ceiling debate — the US is already in default, a Chinese ratings agency claims. “In our opinion, the United States has already been defaulting,” said Guan Jianzhong, president of Dagong Global Credit Rating
See all stories on this topic »

China concerned at Korean tensions: US envoy
AFP
Campbell said China, the United States and South Korea all agree there must be an improvement in such relations, “and I think China wants to take efforts to help support that process”. Relations have been icy since the South accused the North of
See all stories on this topic »

US destroyer sent to South China Sea
Philippine Star
By Jaime Laude (The Philippine Star) Updated June 11, 2011 12:00 AM Comments (10) MANILA, Philippines – One of the most formidable warships in the United States Navy has been deployed in the South China Sea and Sulu Sea for “freedom of navigation
See all stories on this topic »

China urges US to fix debt woes
Ninemsn
BEIJING – China, the top holder of US debt, urged Washington to put its fiscal house in order after a third ratings agency issued a warning over a possible US debt default. WASHINGTON – The US trade deficit shrank sharply in April as exports hit a
See all stories on this topic »

China, Japan, US: Rising Dragon, Aging Samurai, Bleeding Eagle
Canada Free Press
China’s rapid rise as a superpower and a future hegemon is causing tectonic shifts in the global balance of power. According to IMF, in 2016 China will eclipse US to become the leading economy in the world. By many measures such as metals,
See all stories on this topic »

When will China become a global superpower?
CNN International
But while few question China’s rise and its existing might, when will we be able to drop the “emerging” tag and simply refer to the country as a superpower — much like the US is perceived today? Already a significant regional power in Asia — only
See all stories on this topic »

China Knows What US Won’t Say
Examiner.com
China’s truthy ratings agency has reported that the US has basically already defaulted, and the market has plunged over 141 points at 11.31 EDT…precious metals have followed, as it appears that investors are frightened of anything today.
See all stories on this topic »

Caught in the USChina wash
The Australian
It will make good sense to watch the developing regional role of China. But I believe the US is on the wrong tack in attempting to demonise China. The US-based intelligence analysis outfit STRATFOR until recently had referred to the US policy of
See all stories on this topic »

China rejects ‘cyber-spies’ accusations of US
Economic Times
He further said this evidence was insufficient and cannot support their arguments that the source of attack came from China. Even if the source of the attack was spotted, it was not necessarily the true base of attackers. On June 5, the Wall Street
See all stories on this topic »

China Leads in Cleantech, But Partnership Provides US Opportunties
Energy Collective
He holds a Master’s in China Studies from the University of Washington, where he focused on Xinjiang, Kyrgyz language, Uyghur culture, and China energy issues. We both recognize there are opportunities for the US and China to cooperate and collaborate
See all stories on this topic »

Analysis: Auditors face suits over U.S.-listed Chinese blowups
Reuters
“They have to show the auditors knew of the fraud in China.” Plaintiffs would have to look at the auditors’ work papers and communications with the company. But those documents are likely in China, where US court rules on evidence-gathering often are
See all stories on this topic »

Visclosky: End of wind equipment subsidies in China good for U.S.
nwitimes.com
The United Steelworkers union and US Rep. Pete Visclosky are claiming victory for American workers and the industry after an announcement earlier this week China will end subsidies for domestic wind turbine manufacturing. US Trade Representative Ron
See all stories on this topic »

China’s power crunch may add to US price rises
China Daily
Now when China suffers – this year’s blackout are supposed to be worse than 2004 – the rest of the world will feel its pain, especially its largest exporting destinations, the United States and the European Union. Low-priced “made in China” products
See all stories on this topic »

Obama Giving the US to China
NewsMax.com
In this global reality, a man of genius like Winston Churchill as the US president ,could save the United States, as he saved Britain from Hitler’s invasion. But Obama is not Churchill. The suspicion that Obama is selling out the United States to China
See all stories on this topic »

China Halts Wind Subsidies Challenged by US; Becomes World’s Biggest Energy
SustainableBusiness.com
China has halted certain wind power equipment subsidies challenged by the US in a World Trade Organization (WTO) dispute, according to US Trade Representative (USTR) Ron Kirk. The subsidies took the form of grants to Chinese wind turbine manufacturers
See all stories on this topic »

China, US unis launch joint institute for new energy
China Daily
China has surpassed US and became the world’s largest energy consumer in 2010, according to a report by the International Energy Agency (IEA). And over the past several years, the country has spared no efforts to develop green energy to meet its
See all stories on this topic »

Yuan Forwards Gain Most This Week on Signs U.S. Recovery Intact
Bloomberg
By Fion Li – Fri Jun 10 03:13:25 GMT 2011 Yuan forwards gained for the first time in three days on signs the US economy is recovering, alleviating concern that demand for China’s exports will flag. Asian stocks advanced after reports showed the US
See all stories on this topic »

Taiwan’s future depends on USChina ties: Brzezinski
Taipei Times
By William Lowther / Staff Reporter in Washington Former US national security adviser Zbigniew Brzezinski has said the future of Taiwan will ultimately depend on the “grand relationship” between China and the US. Speaking at a global security forum
See all stories on this topic »

US STOCKS-Wall St set to dip after Chinese data, scrapped IPO
Reuters
By Edward Krudy NEW YORK, June 10 (Reuters) – Disappointing trade data from China and the scrapping of a large IPO fed into fears about market volatility and the economy on Friday, with US stocks set to fall a day after rebounding from a six-day losing
See all stories on this topic »

US Corn Growers Get Firsthand Look at China Spring Crop Progress
Farm Futures
US corn growers representing seven states returned from China, where they surveyed the country’s corn growing conditions and studied Chinese government policies that affect acreage, marketing and demand. Participants of the 2011 US Grains Council Corn
See all stories on this topic »

US senator blasts WHO on ‘province of China‘ name
Taipei Times
By William Lowther / Staff Reporter in Washington US Senator Sherrod Brown has written to the WHO objecting to the organization’s referring to Taiwan as a “province of China.” “I am concerned that the WHO has unwittingly entered into dangerous
See all stories on this topic »

China hard-currency B-shares dive as US warns on Chinese stocks
Economic Times
SHANGHAI: China’s main stock index for hard-currency “B-shares” slumped 5.6 percent by midday on Friday, with traders reporting selling among foreign holders of such shares in the wake of US regulators’ warning about the risks surrounding Chinese
See all stories on this topic »

US museum opens ‘Made in America’ gift shop
DAWN.com
St. Thomas said even busts of US presidents, while sold by an American company, are produced in China. Once the inventory runs out, she said, “they will be replaced by busts that have been made in this country.” Price, however, will always remain an
See all stories on this topic »

Xi visits ‘gateway to Latin America’
China Daily
“The US wants to put China’s cooperation with the region seen as Washington’s backyard under its control. That is a factor that Beijing has to take into consideration when drawing up its Latin American policies.” On Wednesday, during the third stop of
See all stories on this topic »

US Stocks to Open Lower on China Fears
CNBC.com
US stock index futures pointed to a lower open on Wall Street after economic data showed Chinese export growth slowed in May while import export data due out later on Friday in the US was also expected to weigh on markets. US import/export data for May
See all stories on this topic »

US STOCKS-Wall St resumes downtrend after brief respite
Reuters
By Edward Krudy NEW YORK, June 10 (Reuters) – US stocks fell on Friday, a day after ending a six-day losing streak as weaker trade data from China, the scrapping of a large IPO and ongoing disputes about a second Greece bailout weighed on sentiment.
See all stories on this topic »

Groupon China Venture Says Margins ‘Much Greater’ Than 10% Amid Competiton
Bloomberg
Taobao already vanquished one US rival, EBay Inc. EBay entered China in 2002 and shut its China site in 2006, as Taobao cut the US company’s share of the China market by half. Other US Internet companies have struggled in China, including Google Inc.,
See all stories on this topic »

Panetta seeks to build ties with China
China Daily
Metzl said, like Gates, Panetta “will look for all opportunities to engage China while preparing for all possible contingencies should USChina relations continue to sour”. Military experts say that Gates’ visit to China in January enhanced
See all stories on this topic »

Sales and production of cars slow in May
China Daily
Apparently US car brands are also suffering from the market downturn. General Motors, the auto giant which made sweeping sales triumphs after its restructure in 2010, failed to maintain its lead. In May, GM China said its sales number in China is
See all stories on this topic »

China trade surplus widens to US$13.05bn
RTHK
China’s trade surplus expanded to US$13.05 billion in May from the previous month as the value of exports hit a new record high. The figure is bigger than the US$11.4 billion recorded in April, but sharply lower than one prediction of US$18.6 billion.
See all stories on this topic »

Futures Trade Lower; US, China Data in Focus
Morningstar.com
By Nazim Khan | 06-10-11 | 05:22 AM | E-mail Article Stock index futures in the United States were trading lower, as equities globally digested weak Chinese data and as investors awaited the last set of economic reports in the United States for the
See all stories on this topic »

Lawmakers tout bill to bring jobs back to the US
The Hill (blog)
Business leaders have told the lawmakers that the gap between labor costs in the United States and in countries like China, India and Mexico are shrinking, and this type of loan program could provide the additional push needed to bring more companies
See all stories on this topic »

Global Energy Demand Rises as China Surpasses US as World’s Largest Energy
Green Chip Stocks
According to the annual British Petroleum energy report, the United States was not last year’s largest consumer of energy, as China surpassed the US as reigning leader in global energy use. China took the top spot by boosting energy use by 11.2 percent
See all stories on this topic »

Harbin CEO backs $750 million buyout offer, shares rise
Reuters
Shares of several US-listed Chinese companies, including Longtop Financial Technologies (LFT.N) and China Electric Motor Inc (CELM.O), were hammered over issues ranging from regulatory probes to potential accounting frauds. Harbin’s statement comes a
See all stories on this topic »

Hong Kong Auditor Rejected by U.S.
Bloomberg
s application to become a registered US auditor, citing an inability to inspect its work for companies based in China. This was the first time the PCAOB blocked an auditor since toughening rules in October. The decision follows the US Securities and
See all stories on this topic »

US RE Forms Strategic Alliance With Major Insurance Broker in China
Marketwire (press release)
PEARL RIVER, NY–(Marketwire – Jun 9, 2011) – US RE Companies, Inc., an international financial services and reinsurance brokerage firm, has joined with one of China’s leading brokers, Shanghai Transceed Insurance Brokers Co., Ltd., in a strategic
See all stories on this topic »

ECRI Now Predicts Sustained Slowdown In The United States
Business Insider
This has pretty much materialised as the latest PMI from various countries, including China, United States and Europe. Lakshman Achuthan, the Chief Economist of the ECRI, went on CNBC and discussed some of his latest view.
See all stories on this topic »

Will China stay on course?
CNN (blog)
I interviewed Henry Kissinger for GPS and he said he thinks that China’s rise is the central challenge of American foreign policy. Kissinger also thinks that the Obama people are doing all right at it; Obama’s people get the importance of the USChina
See all stories on this topic »

U.S. Stock Futures Are Little Changed; Hewlett-Packard, Wal-Mart Decline
Bloomberg
Federal Reserve Chairman Ben S. Bernanke said this week that the US recovery was “frustratingly slow.” Global stocks fell today after China reported a less-than- estimated $13.1 billion trade surplus in May, as surging imports signaled the nation’s
See all stories on this topic »

U.S. Commodities Day Ahead: Crop Weather Mayhem Delays Planting
Bloomberg
Soybeans fell for a second day in Chicago on concern a prediction for higher-than-estimated US stockpiles at the end of the marketing year may signal weaker demand from importers. Feed mills in China, the biggest grain user, are using more wheat as a
See all stories on this topic »

As US Sales Stall, Automakers Take Brands Overseas
NPR
Car sales in the US have stalled. Right now, GM sells more cars in China than it does here. Around the world, American brands have a much higher “cool factor” than they do here at home. And US car companies are looking to exploit that.
See all stories on this topic »

Fed passes China to become largest US creditor
MarketWatch (blog)
The Federal Reserve has surpassed China as the single largest creditor of the US government. As a result of its asset purchase program (QE2), the Federal Reserve at the end of 1Q held about 14% of total outstanding federal debt (debt held by the
See all stories on this topic »

Regulators scramble to warn on Chinese stocks
Reuters
The scandals have caused US investors to grow weary of the China growth story and increasingly wary of Chinese listings, even quite substantial companies on the New York Stock Exchange and Nasdaq markets. The SEC and others “are still playing catch up
See all stories on this topic »

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: