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U.S. China News 2011.06.11

Sat, June 11, 2011

US not coming to PH aid vs China
By Julie M. Aurelio, Norman Bordadora The United States yesterday said it will not side with any party in the Spratlys conflict, which is to say that the Philippines’ most powerful ally will not be coming to its aid should its spat with China escalate
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US ‘concerned’ about China business practices in Africa
Economic Times
LUSAKA: US Secretary of State Hillary Clinton urged African countries to lift trade barriers with the United States here Friday and voiced concern about China’s aid and investment practices in Africa. The first US chief diplomat to visit Zambia since
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Why markets wobble after good news from China
Sydney Morning Herald
AMERICAN populists have been criticising China for years over its giant trade surplus with the US, but on Friday when Beijing released numbers showing the growth in its exports wasn’t as high as the previous month, Wall Street had another wobble.
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Stealth-mode China gives U.S. no reason for trust
San Francisco Chronicle
In a news release, the US Pacific Command complains that “a core tension in the USChina military relationship is US frustration over China’s unwillingness to reveal more about its military capability, its budget and its strategy.
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Op-Ed: U.S. is Insolvent and Bankrupt According to China
Guan Jianzhong, chairman of China’s largest credit rating agency: Dagong Global Credit, slams US credit rating as false, propped-up and unsustainable. Was he trying to be subtle? The Financial Times reported that Guan said: “The western rating agencies
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Analysis: Investors drop China broadly; shun big names, IPOs
With even some investor favorites pressured, some are turning to US companies with deep exposure to China to play its growth story, or waiting for a bottom in Chinese names seen as more stable. The selloff continued on Friday, with shares dropping
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US: China Should Push N. Korea to Improve Inter-Korean Ties
Arirang News
The United States has once again stressed the importance of the two Koreas improving their ties and urged China to use its influence on North Korea to make that happen. State Department spokesman Mark Toner said Friday that Assistant Secretary of State
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USA Sinking Faster Than You Think
It was not so long ago, I had a discussion with a Professor of Finance who told me that dollars dominant position is extremely secured in the foreseeable future and he did not think that China had any place to stash their cash except in US treasuries.
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Kissinger ‘still a bit of a rockstar’ in world affairs, focusing on China
Globe and Mail
Titled simply On China, it is a 500-page tome that combines a telescopic view of Chinese history with firsthand insights into critical moments in USChina relations. It concludes with an earnest call for the two countries to co-operate,
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U.S. stocks drop for sixth straight week
The recent nosedive for many commodities has done little to shake money managers’ belief that natural resources are on track for long-term gains as China and other developing countries grow richer. See full story. US stocks notched their first win so
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Hu Jintao eager for Taiwan legacy
Taipei Times
6, 2009, also from the US embassy in Beijing, offered insights from Clark Randt, US ambassador to China from July 2001 to January 2009, on the USChina relationship, to mark the 30 anniversary of diplomatic relations. Randt said that Taiwan was the
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Gaming investors look to China
Wynn Resorts Ltd. (WYNN), which derives nearly 70 percent of its revenue from Macau and the remainder from the US, is a stock admired by both Turner and Mollman. It has positioned itself as the premier luxury casino brand in China and is led by Steve
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Gold falls to end week at $1532
Proactive Investors UK
The greenback rallied against other major currencies after the latest US balance of trade data showed that the trade gap narrowed to US$43.68 billion as US exports surged to record highs. Meanwhile, China’s trade surplus grew less than expected in May,
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Israel defense minister to China for first time in decade
suspended the sale to Beijing of four $250 million advanced early warning Phalcon aircraft, similar to US AWACS planes. Barak, who served as prime minister of Israel during the Phalcon dispute, was scheduled to travel to China late on Saturday,
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Huntsman Set to Enter 2012 Race Within Days
MyFox Washington DC
(NewsCore) – NASHUA, NH — Former US ambassador to China Jon Huntsman is close to entering the 2012 Republican race, saying that he is about a “week and a half” away from officially announcing a presidential run. “We’re about a week and a half out
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CRI Hourly News (updated at 08:00 2011/06/11)
China has over 100 million people affected by mental illness, with 16 million listed as severely ill, in China. China’s Ministry of Finance says the central government has allocated a total of 10.3 billion yuan(over 1.5 billion US dollars) this year to
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US Stocks Fall Hard On China Data, Euro Squabbling
Investor’s Business Daily
By DONALD H. GOLD, INVESTOR’S BUSINESS DAILY Posted 06/10/2011 04:18 PM ET Disappointing export results from China suggested the world economy is sagging, while the argument in Europe over what to do about Greece added to a sense of uncertainty.
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‘Private equity investment firms joining us
China Daily
I know that private equity has had some great achievements in Tianjin in a favorable environment. It’s our pleasure to cooperate with Tianjin. Expanding ACG’s global influence is our emphasis. We have chapters in the US, Canada, the EU and China.
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Brazil stocks fall, dogged by growth concerns
The prospect of contagion effects from Europe because of ongoing debt troubles and slowing growth in China — Brazil’s largest trading partner — are of importance to Latin American exporters, and a pullback in risk appetite tends to hurt assets in
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Saudi Shares Tumble to Lowest Since March on Oil, Global Retreat
By Mourad Haroutunian – Sat Jun 11 13:46:22 GMT 2011 Saudi Arabian shares plunged to the lowest level since March after data from the US, India and China fueled concern that global economic growth is slowing. The 146-member Tadawul All Share Index
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Public diplomacy essential ‘tool’ for improving Sino-US relations
China Daily
“The United States, unlike European powers, tended to be much friendlier toward China and defended China against Japan. That’s an important piece of history for China and US to build on,” Gordon said. Zhou Wenzhong, former Chinese ambassador to the US,
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China Corn Safe From Massive Drought, Floods
Forbes (blog)
Expected high temperatures in the south later this year would ensure normal production, he told China Daily on Friday. China is the No. 2 corn producer behind the US. It produced around 6.2 billion bushels, or 158 million metric tons of corn in 2010,
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US, Chinese stars usher in Shanghai film festival
North County Times
Hollywood’s elite joined China’s biggest stars at the Shanghai Grand Theater to usher in the 14th edition of the country’s leading international film festival on Saturday _ in a sign of respect for what is fast becoming one of the American movie
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China’s Pearl Harbor?
Washington Times
The five smallest carriers combined have less tonnage than the USS Enterprise, which at 94700 tons is the smallest US carrier. The combat power of non-US carriers is comparatively limited. That said, when China’s carrier becomes operational,
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Representative Richardson: China can bring more jobs to Oregon
Oregon Catalyst
As the Japanese economy matured, concerns over balance of trade deficits with the US became points of contention, much like they are today with China. Japan responded by promoting the off-shoring of its manufacturing to the US for automobiles and other
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Clinton warns against new ‘colonialism’ in Africa
Oman Daily Observer
“The US does not see these interests inherently incompatible with our own interests. We do not see China’s rise as a zero-sum game. We hope that it will become successful in its economic efforts,” she said. “We are, however concerned that China’s
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China and inflation take toll on FTSE [Herald, The (Scotland)]
The FTSE 100 Index closed 90.5 points lower at 5765.8, as miners – vulnerable to a slowdown in demand from China and the US – weighed on the market. China’s General Administration of Customs reported export growth slowed sharply in May,
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Starbucks Tries to Find Grounds for Growth in China
Motley Fool
With the US market nearing full saturation, Starbucks has needed to look globally to expand its revenue, and China looks like its primary answer. The company recently announced that it has arranged a deal with its joint-venture partner in China,
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‘LeT and China greatest threats to India, US
United States Senator and Texas Republican John Cornym, who is the founder and GOP co-chair of the Senate India Caucus, has lumped the Lashkar-e-Tayiba and China as the gravest security threats to India and the United States.
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US brokerage moves on Chinese ‘accounting scandals’
China Daily
China’s rapidly growing economy has sparked intense investor interest in Chinese companies, which in turn has led to a surge in public offerings by these companies in foreign markets such as the United States. Peterffy, an outspoken pioneer of
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What Does It All Mean
Canada Free Press
The US has clumsily responded to the situation by weakening the dollar, which slightly helped salvage the economy by boosting exports until 08 at least, and infuriating China. China says the US is not committed to the strength of its currency.
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Meetings with remarkable Maoists
Irish Times
In his epilogue Kissinger turns to the strained relations between Washington and Beijing: “I am aware of the realistic obstacles to the co-operative USChina relationship I consider essential to global stability and peace . . . Relations between China
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Confucius’ hometown receives World Bank loan for cultural heritage conservation
A launching ceremony for the 50-million-US-dollar project was held in Confucius’ hometown of Qufu in east China’s Shandong Province. According to the World Bank, the project is intended to assist Shandong in enhancing cultural heritage conservation,
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US scholars interested in Taiwan’s opening up to solo Mainland Chinese
Radio Taiwan International
Currently, tourists from Mainland China can only come to Taiwan as part of a tour group. Chao said US scholars are interested in what impact an influx of Mainland Chinese tourists and students will have on Taiwan. He also said most American scholars
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Is it advantage Christine Lagarde Vs Agustin Carstens?
Q: We have seen very poor manufacturing data across Asia, China, India and then the US showing considerable weakness, the sovereign debt problem in Europe. Are we headed to a double-dip over the course of the next few months?
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China leads energy use
Petroleum News
China has surpassed the US in energy consumption and demand grew faster in 2010 than it has for nearly 40 years. Those were among the highlights cited by BP’s group chief executive, Bob Dudley, in prepared remarks June 8 introducing the BP Statistical
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Bill Gates in China push against secondhand smoke
Sacramento Bee
Nearly 30 percent of adults in China smoke – about 300 million people, a number roughly equal to the entire US population. More than double that number are estimated to suffer exposure to the risks of secondhand smoke, which include increased asthma
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China Economy at Risk of ‘Hard Landing’ After 2013, Nouriel Roubini Says
Higher energy costs, data suggesting easing expansion in the US, Europe’s lingering debt crisis and the recession in Japan have eroded investor confidence, with the MSCI AC World Index tumbling 4.7 percent this month. There is increasing evidence of a
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Today, China is the largest foreign holder of US government debt. Some Chinese government officials have scolded senior US Government officials over the mounting debt, and others have publicly threatened to use China’s large US debt holdings to
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China’s imports soared 28.4% in May with strong demand for oil
China posted a smaller-than-expected trade surplus in May of 13.1 billion US dollars because of soaring imports and weaker global demand growth. Sales to the US and the European Union slumped to their weakest since late 2009, excluding Lunar New Year
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Meet the 2011 LA Film Festival Filmmakers | ‘Somewhere Between’ Director Linda
Indie Wire (blog)
Four teenaged girls, adopted as babies from China, explore the question, “Who am I?” and start a dialogue about family and identity. OK: Now tell us what it’s really about. My daughter Ruby is six. When my husband and I adopted her from China we had no
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World markets mostly down on growth doubts
“But I think people are still concerned about the US, and maybe that China is less of an engine than it was previously.” South Korea’s Kospi index slid 1.2 percent to 2046.67 after the Bank of Korea raised its key interest rate for the fifth time in
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US Interest Rates and Stock Indexes- Outlook for June 10, 2011
Inside Futures
Bearish factors include (1) the action by China to buy a net 1.33 trillion yen ($16.6 billion) in Japanese long-term government bonds in April, the most since records began in 2005, which suggests China may purchase fewer US Treasuries as it
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Obama: Economic recovery is “going to take time”
Bottom line: World oil consumption hit an all-time record high of 87.4 million barrels a day in 2010, driven by a surge in demand from emerging nations, but primarily led by China. China has now overtaken the US as the world’s largest energy consumer,
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