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U.S. China News 2011.06.14

Tue, June 14, 2011

EMERGING MARKETS-Latam currencies gain on China, US outlook
Reuters
By Jeb Blount RIO DE JANEIRO, June (Reuters) – Latin American currencies gained on Tuesday against the US dollar on expectation growth in China and the United States, the world’s largest economies, may not be slowing as quickly as expected.
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GLOBAL MARKETS-China, US data lift stocks, oil as euro gains
Reuters
He said the data is a sign that perhaps China’s economy “can avoid a hard landing, and that’s cheering the markets.” In the United States, retail sales in May fell for the first time 11 months, but the drop was less than expected, signaling the
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Beijing Criticizes US for Meddling in S. China Sea Dispute
Voice of America
Photo: AP China is criticizing a US senator’s call for multilateral negotiations to resolve territorial disputes in the South China Sea, and says it would rather pursue one-on-one dialogue with rival claimants. Foreign Ministry spokesman Hong Lei
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Analysis: Asia wary of ChinaU.S. economic cold war
Reuters
By Emily Kaiser JAKARTA (Reuters) – The uneasy peace between the United States and China may give way to worsening tensions as their economies cool, and the rest of Asia is watching warily for fear of getting squashed in the middle if the world’s two
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Oil Near One-Month Low on U.S. Outlook, Rebounds After China Economic Data
Bloomberg
By Grant Smith and Ben Sharples – Tue Jun 14 11:53:24 GMT 2011 Oil traded near the lowest in almost a month as signs of slowing growth in the US and China’s moves to tackle inflation spurred concern fuel demand may falter. China, the world’s largest
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Bigger Debt Problem: US Subprime Or China’s Local Governments
Forbes (blog)
China is breaking down. Europe is slipping. And there goes the US too…with stocks down 172 points on the Dow on Friday, closing out a 6th straight week of losses. Even if the US holds itself together, there’s a good chance that either Europe or China
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Canada’s Currency Advances Versus Most Peers on US, China Data
BusinessWeek
By Allison Bennett June 14 (Bloomberg) — Canada’s currency strengthened against the majority of its most-traded counterparts as stronger-than-forecast data in the US and China added to the appeal of currencies of commodity exporters.
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US STOCKS-Futures up on China data, bounce seen as temporary
Reuters
By Rodrigo Campos NEW YORK, June 14 (Reuters) – US stock index futures rose on Tuesday after economic data out of China drew investors into an equities market that had become oversold from a technical perspective after six weeks of sharp declines.
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METALS-Copper gains after US, China data
Reuters Africa
By Marie-Louise Gumuchian LONDON, June 14 (Reuters) – Copper rose to its highest in a week on Tuesday after better-than-expected US retail sales data consolidated earlier gains made on data from China, which eased global growth concerns and boosted
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China Everbright Starts Pre-Marketing Around US$6 Bln HK IPO – Term Sheet
Wall Street Journal
By Prudence Ho HONG KONG (Dow Jones)–Shanghai-listed China Everbright Bank Co. (601818.SH) is set to raise around US$6 billion from its Hong Kong initial public offering ahead of a share listing July 15, according to a term sheet seen by Dow Jones
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Key US senators slam China on military parts probe
AFP
“The United States and China are not destined to be adversaries. We have overlapping interests and this is actually one of them,” said Senator John McCain, the top Republican on Levin’s panel. And the senators said China had required that government
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A New Era for the USChina Trade Deficit?
Wall Street Pit
For nearly 20 years, the story of the US’s trade with China was a simple and predictable one: month after month, year after year, the US imported more from China. US exports to China also grew, but at a slower rate, and so the US’s trade deficit with
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China dismisses US swipe on “colonial” role in Africa
Reuters Africa
BEIJING (Reuters) – China on Tuesday scorned US Secretary of State Hillary Clinton’s suggestion that its influence in Africa could foster a “new colonialism” there, saying it too had suffered from colonialism. Clinton told a Zambian television show on
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CANADA FX DEBT-C$ strengthens to 2-week high on data, China
Reuters
By Solarina Ho TORONTO, June 14 (Reuters) – The Canadian dollar firmed to its strongest level against the US dollar since the start of the month on Tuesday following positive North American data and news out of China that soothed fears of a hard
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Huntsman says to start White House bid
Reuters
Former US ambassador to China and possible Republican presidential candidate Jon Huntsman (L) greets a motorcycle rider, as Huntsman’s wife Mary Kaye (C) and daughter Liddy look on, at a Harley Davidson store in Manchester, New Hampshire June 11, 2011.
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Kissinger: China poses ‘big challenge’ for US
International Business Times
Appearing on CNN’s “Fareed Zakaria GPS” to speak about his new book “On China,” Kissinger said relations between China and the United States have been stable for nearly 40 years, but nonetheless, the dynamics are changing. “There are elements in China
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Brazil Rate Yields Rise on China Output, U.S. Retail Sales
Bloomberg
China’s industrial output expanded 13.3 percent in May from a year earlier, the country’s statistics bureau said, beating the median 13.1 percent estimate in a Bloomberg survey of 21 economists. “At least the data moves away from fears that the world
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DIARY: China, The US And An RBA Governor’s Speech
International Business Times AU
Friday’s trade figures (see separate stories) brought mixed reactions from the China’s bears and bulls. Today’s inflation figures (producer and consumer) will be the key, with some economists forecasting an annual rate in May of 5.6%, others 5.4%.
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China and the end of Osama
DAWN.com
and worries of a geopolitical sort (“After Bin Laden, will China become US foe?”). Unbelievably, there was no mention of Osama bin Laden’s death on the front page of the online English editions People’s Daily or of the China Daily well into late
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Stocks Continue To See Significant Strength – U.S. Commentary
RTT News
(RTTNews) – With economic data from the US and China easing recent concerns about the outlook for the global economy, stocks are turning in a strong performance during trading on Tuesday. The markets may also be benefiting from bargain hunting
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China’s alternative to an American addiction
Thought Leader
Or might China – for all its shortcomings and pressing development challenges – offer a less dystopian vision of the future? Returning to the BP Statistical Review we discover that not only has China surpassed the US in total energy consumption,
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China goes on US corn spree
China Daily
US food giants Cargill and Archer Daniels Midland Co, which brokered a major chunk of the corn trade between China and the US, did not respond to requests for comments. The US food exports to China came with China’s growing demand for agricultural
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With eye on China, US seeks to define Asia role
SignOnSanDiego.com
China’s greatest military threat, the colonel said, is that the United States lists China as its greatest threat. The army of the world’s largest nation is robust, but it is working to bolster its navy and air force and to build what it calls a “second
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China, Idaho, and US Manufacturing (Guest Post)
Business Insider
Officials of the China National Machinery Industry Corp. have broached the idea — based on a concept popular in China today — to city and state leaders. They are also interested in helping build and finance a fertilizer plant near American Falls,
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U.S. corn growers get first hand look at China’s crop
Southwest Farm Press
US corn growers representing seven states recently returned from China, where they surveyed the country’s corn growing conditions and studied Chinese government policies that affect acreage, marketing and demand. The potential of Chinese efforts to
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“Meaningful probability” of a China hard landing: Roubini
Reuters
New York-based Roubini is closely followed by Wall Street because he predicted the US housing meltdown that precipitated the global downturn. China avoided a hard landing during the global credit crunch but faces a downturn after 2013 as it will
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China HGS Signs Another Residential-Apartment Bulk-Purchase Agreement Worth US
PR Newswire (press release)
According to the Agreement, the Hanzhong Municipal Bureau of Justice has agreed to make an initial payment of RMB 100000 (approximately $15385) for each apartment unit within 10 days of the date of the Agreement and make an additional payment to China
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Mexican stocks rise sharply on US, China data
Reuters
MEXICO CITY, June 14 (Reuters) – Mexican stocks jumped on Tuesday after solid Chinese growth data and a smaller-than-expected decline in US retail sales eased concerns about slowing global growth. The IPC stock index .MXX added 1.01 percent to 35350
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US stock index futures signal early bounce
Reuters
O) has agreed to buy its European namesake in a $1 billion cash deal to increase its presence in rapidly growing international markets, including India and China. * A top NYSE Euronext (NYX.N) executive said the US-based exchange’s merger with
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US equips new solar plants with China-made panels
China Daily
LOS ANGELES — Four new community solar plants with panels manufactured in China have gone into service to cope with summer peak demand, major US electricity supplier Southern California Edison (SCE) announced Monday.
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China’s “born in the USA” frenzy
Worldcrunch
Going to the United States to give birth and taking a foreign born child back to China usually proves relatively easy. The difficult part starts only later, as Song Jingwen is starting to understand. Because her son has a US passport, the law does not
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China Aviation to boost trading to fuel growth
Reuters
China is the second-biggest market for jet fuel after the US but demand is 6 times higher there, so there is a lot of potential.” The International Air Transport Association (IATA), which accounts for 93 percent of global air traffic, is forecasting
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P/E Arbitrage Creating M&A Opportunities for Chinese Firms in the U.S.
Seeking Alpha
The gap between stock market valuations in the US and China, on a price-earnings basis, are wide. The average trailing p/e in the US now is 14. On China’s Chinext board, it’s 45. For fast-growth Chinese companies, the p/e multiples can exceed 70.
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Gold futures advance on soft U.S. dollar, China inflation
Forex Pros
Forex Pros – Gold futures were up on Tuesday, re-approaching the daily high as a broadly weaker US dollar and official data showing that Chinese inflation accelerated to a 34-month high in May boosted prices. On the Comex division of the New York
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US uses Safeguard for training in West PH Sea
ABS CBN News
Brunei and Malaysia are also involved in the South China Sea territorial dispute. Tonsay said the Philippine Navy has deployed three ships for the training. The US, on the other hand, will be using the USNS Safeguard, which is a rescue and salvage ship
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Nouriel Roubini: Trouble Ahead in China (And Europe, And The US, And…)
Wall Street Journal (blog)
Over at Reuters, Roubini grabs for the anecdotal to explain his darkening views about China. “I was recently in Shanghai and I took their high-speed train to Hangzhou,” he said, referring to the new Maglev line that has cut traveling time between the
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Tim Pawlenty’s silly China envy
Salon
My colleague Joan Walsh memorably zinged this argument in her debate wrapup by noting that the difference between China and the United States is that “they’re building a middle class, not taking it apart, the way we are.
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China and Europe will be larger markets for electric vehicles than the U.S.
Detroit Free Press
BY GREG GARDNER Electric vehicles will find more buyers in China and Europe than in the US over the coming decade, mainly because fuel efficiency of conventional gas engines is improving faster and at a lower cost than automakers expected, according to
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History-Test Scores Show Scant Progress
Wall Street Journal
By STEPHANIE BANCHERO Fewer than a quarter of American 12th-graders knew China was North Korea’s ally during the Korean War, and only 35% of fourth-graders knew the purpose of the Declaration of Independence, according to national history-test scores
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Treasury presses Congress for World Bank funding
Fox 59
US refusal to help replenish the Inter-American Development Bank could be seen “as a deliberate US retreat from the region at the very time that other emerging donors, such as China, are increasing their presence,” she said. (Reporting by Doug Palmer;
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Great cities inspire us to reach for the sky
Sydney Morning Herald
In the developing countries, particularly China, the urban population is growing by 5 million a month. In rich and poor countries alike, cities are a magnet. But why are people so keen to crowd into congested, expensive cities?
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China CPI and PPI Data Make Gold and Silver ETFs Likely to Resume Up Trends
Seeking Alpha
Further the rising Yuan versus the USD (estimated to rise at 6%-7% per year for several years) may keep inflation down in China, but it will add to inflation in the US. The US is China’s biggest trading partner, and the US is a net importer from China.
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May retail sales post first drop in 11 months |
Reuters
Thomson Reuters Editor-at-Large Harry Evans interviews former US Ambassador to China Jon Huntsman and former US Secretary of State Henry Kissinger. Full Coverage A shopper walks by the sodas aisle at a grocery store in Los Angeles April 7, 2011.
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SEC Seeks Halt to Sales of 2 China-Based Stocks
Bloomberg
By Joshua Gallu – Mon Jun 13 22:12:01 GMT 2011 The Securities and Exchange Commission formed a task force last year to investigate China-based firms trading in the US amid concerns that some might be doctoring financial statements to lure investors.
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