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U.S. China News 2011.06.27

Mon, June 27, 2011

China’s claim on sea leads Asian neighbors to strengthen ties with US
Stars and Stripes
YOKOSUKA NAVAL BASE, Japan — Naval tensions between the US and China have cooled for now, but recent incidents in the South China Sea have proven that their fundamental differences over the balance of power in the Pacific aren’t going away.
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China Welcomes ‘New Channel’ for Dialogue With US
Voice of America
The consultations grew out of the third round of a ChinaUS strategic and economic dialogue in May. China says they reflect an agreement between Presidents Barack Obama and Hu Jintao to build a positive, cooperative and comprehensive relationship.
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China Slams US war in Middle East, Afghanistan; calls for caution in Libya
International Business Times
China has direct investments in Libya totaling over $9-billion, according to AsiaNews. The same article reported that the People’s Republic also imported some 150 thousand barrels of crude oil per day from the North African nation — previously the
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US opposes Sudan leader’s planned China visit
WASHINGTON — The United States on Monday signaled opposition to a visit to China by Sudanese President Omar al-Bashir, who is accused of war crimes. Bashir, after a reported delay, is due to visit China on Tuesday amid outrage from rights groups that
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China calls for more mutual understanding, co-op with US
China Daily
Wang hailed Kissinger’s commitment to the improvement of ChinaUS relations during their talks. Kissinger made a secret trip to China in July 1971 and paved the way for renewed ties between China and the United States. “Despite ups and downs over the
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China’s Move Away from the US Dollar Means You Need to Invest in the Yuan
Money Morning
By Kerri Shannon, Associate Editor, Money Morning China has started diversifying away from the US dollar, yet another sign that it’s time to invest in the yuan. A report from Standard Chartered Bank last week showed China’s foreign exchange reserves
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Home Depot Accused of Using China Products in ‘Buy American‘ Campaign
The law requires all materials used in construction of public projects originate in the US It has been revised several times to accommodate various trade agreements with designated countries such as Canada and Israel, but China-made materials are
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Bayan hits US for provoking China
Philippine Star
MANILA, Philippines–Militant group Bayan has scored the US goverment for provoking China as American warships are set to conduct joint naval exercises near disputed Spratly Island. “The US government calls on China to ease tensions in the Spratlys yet
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The China Question: How Will the Country’s Economic Difficulties Impact the
International Business Times
Now that China has passed Japan to become the world’s second largest economy and the country is the leading low-cost goods provider to the US, and also among the largest holders of American debt, the issue merits close watching for US companies and
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U.S. Exporters Sell Corn to Unknown Buyers, Soybeans to China
Exporters also reported sales of 132000 tons of soybeans for delivery to China during the 2010-2011 marketing year, the USDA said today in an e-mailed statement. The marketing year for corn and soybeans begins Sept. 1. The USDA said 100000 tons of hard
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Local governments in China owe US$1.65 tril
Business Times – Malaysia
By the end of last year, local governments had (US$1.65 trillion) of debt, the National Audit Office (NAO) said in a statement, or about 27 per cent of China’s 2010 GDP of 39.8 trillion yuan. “The ability of some areas and industries to repay debt is
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Firm support for US alliance, poll shows
New Zealand Herald
And Australians have faith in the major powers to “act responsibly”, especially the US and Japan and, to a lesser but still significant degree, China, India and Russia. The Lowy poll reflects Australia’s rapidly emerging reassessment of its strategic
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China official denies cyber war with US
New Brunswick Business Journal
BEIJING – There is no cyber warfare taking place between China and the United States, a senior Chinese official said, after weeks of friction over accusations that China may have launched a string of Internet hacking attacks.
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China Sunergy to invest US$277 million in 1GW cell manufacturing expansion
Two China Sunergy subsidiaries are investing RMB1.8 billion (US$277 million) in a new 1GW solar cell manufacturing facility in Yangzhou, China. The joint venture will concentrate on the production of China Sunergy’s newly-developed Quasar cells,
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China-Based US Expats Need to Conduct FBAR Filings by this Thursday
China Briefing
The requirements probably extend to any US persons who have “signature authority” over a foreign bank account including RO, WFOE and JV accounts in China not withstanding they have no personal interest in the accounts. For 2010, the due date for filing
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US to be 3rd in world population in 2050
WASHINGTON, June 27 (UPI) — The United States is expected to remain the world’s third most populous country through 2050 behind India and China, the US Census Bureau said Monday. The findings were determined from population estimates and projections
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Why China Risks Repeating an American Disaster
Money Morning Australia
That’s where China is. Where you don’t want to be is the top right corner… that’s where the Anglo-Saxons are – Australia, the US and the UK And for savings rates, you want to be towards the top… again, where China is (although Singapore is in the
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Risk Outweighs Reward With Emerging Market Stocks
In you’re looking for alternatives to the volatile and slumping US stock market, think twice about emerging markets. Fund managers are worried about inflation in places like China, and feel the risks in these markets outweigh the potential rewards.
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US cable: China official, Taiwanese spy had affair
AP , 06.26.11, 11:15 PM EDT TAIPEI, Taiwan — A US diplomatic cable released by the anti-secrecy website WikiLeaks says former Chinese Finance Minster Jin Renqing was fired in 2007 for having a sexual relationship with a suspected Taiwanese spy.
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Nordic American Tanker Shipping Ltd. (NAT)-(NYSE:NAT) Letter to Shareholders
Reuters (press release)
We must remember that such a stage provides Nordic American with opportunities. We are seeing clear growth in the Asian trade and rising US demand. The US and China are large recipients of seaborne crude. These are positive signs that underpin our
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Analysis: Tencent in steep climb to be China’s Facebook, Twitter
“There is a ceiling in Internet value-added services, so that is giving us a sense of urgency,” Tencent founder and CEO Pony Ma told reporters this month. “How can we push the team and company to adjust our DNA and change our business model to get
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Why China’s Heading for a Hard Landing, Part 1: A. Gary Shilling
China’s labor force is aging. Its consumers save too much and spend too little. Its political and economic policy tools remain crude. Its state bureaucracy seems likely to curb spending just as exports weaken, and thus risks deflation. As US consumers
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LDK Solar Announces Share Repurchase Program
PR Newswire (press release)
LDK Solar’s headquarters and principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People’s Republic of China. LDK Solar’s office in the United States is located in Sunnyvale, California.
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Simclar goes into administration
BBC News
The administrators from Deloittes are expected to keep Simclar, which owns operations in China and the US, running while it seeks buyers for the business. Simclar ran into problems when planned launches for new products, including an energy-saving plug
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Google sees growing struggle over web censorship
Google’s friction with China resurfaced this month when it said it had broken up an effort to steal the passwords of hundreds of Google email account holders, including US government officials, Chinese human rights advocates and journalists.
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Boeing, Ford, GM: What’s Next in China
Meanwhile, a new report by Standard & Poor’s noted that China auto sales reached 18 million in 2010, compared with 11.5 million in the US China was easily the world’s largest light vehicle market. Among US companies, GM is a leader in promoting its
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Ministers Voice Concern over European 2050 Emissions Goals
International Centre for Trade and Sustainable Development
This cautionary message on taking unilateral action with the emissions trading system (ETS) runs alongside intensifying pressure from the US, China, and now Russia to scale back carbon taxes on aviation. “In order to maintain the Union’s
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Reality Check: Budget Cuts Inevitable at the Department of Defense
The Nation. (blog)
After meeting with Mr. del Rosario, Ms. Clinton said the United States was committed to the defense of the Philippines and to providing it with weapons, though she would not comment on the US response to a potential attack by China in the South China
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Chinese meat firm Yurun plunges on talk of Muddy Waters report
By Vikram Subhedar and Jason Subler HONG KONG/SHANGHAI (Reuters) – China Yurun Food Group Ltd (1068.HK), a meat processor that has seen some of the world’s most well known investors among its shareholders, sufferedof publiclyst ever fall on Monday,
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Monday, June 27, 2011: Women’s museum support, education in China, US
Bangor Daily News
US education needs improvement and so does China’s. n the interest of school consolidation, why not enroll all Maine’s high school students in Maine’s top five schools? How many would want to and could afford to attend an Ivy League school?
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China GengSheng Minerals to SupplyFracture Proppant Products in North America
The deal also gives an option to the US-based company to buy more quantities of fracture proppant products than those specified in the deal, based on availability. The Chairman and Chief Executive Officer for China GengSheng Minerals, Shunqing Zhang
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Oil sands: Third pipeline from Canada awaits crucial US decision
Financial Times
Nonetheless, some supporters of Keystone XL say the carbon footprint will be less if fuel is exported to the US in a pipeline rather than shipped in a tanker across the ocean to China. Kenneth Medlock, energy expert at Rice University, says there is a
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Chen claimed that, on March 10, 2010, government cadres confronted her parents about her Falun Gong activities in the United States. The cadres told Chen’s parents that she must renounce Falun Gong and return to China to “accept stringent punishment.
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South Korea, US Agree to Maintain Strong Posture on North
Global Security Newswire
The United States has called on China to use its sway over Pyongyang to deter it from any new “provocation,” US Assistant Secretary of State Kurt Campbell said on Saturday following a bilateral meeting between the two powers, Agence France-Presse
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The China Conundrum
Boston Globe (blog)
Indeed, in a National Journal poll last year – just before Amy Chua popularized the term “Tiger Mother” – almost half of those surveyed said they believed China to be the world’s largest economy. That was wrong by a long shot. The US economy is at
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China Armco Metals Announces Developments in Metal Recycling Industry
MarketWatch (press release)
legal and financial controls in the United States and China, the actions (including for example electric power limitations and currency controls) of government and regulatory bodies in China and United States, the negative market and governmental
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US Coal Production: What Investors Need to Know
Investment U
That means US coal producers are stepping in to fill the gap. This is happening in the face of increasing coal demand from China and India. They’ll be burning coal for the next 100 years, and they can’t get enough of it. As a result, US producers can
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China’s Health Care Reform Looks to Science
Science AAAS
We have everything in China,” said Chen, who welcomes cooperation with foreign researchers. He also cited the need to “strengthen China’s biobanks.” “I hope health care reform goes better here than it did for us,” Harry Selker, dean of Tufts
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IFR-Far East Horizon deal to re-open China securitisation market
By Nethelie Wong HONG KONG, June 25 (IFR) – Hong Kong-listed Far East Horizon has received approval for a Rmb1.1bn (US$165m) asset-backed securitisation that will mark the first deal of its kind from China since late 2008. Although the lease receivable
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Taliban’s return and India’s concerns
The Hindu
The foreign policy priorities need vastly more attention: exports and investment, upheaval in West Asia, China’s rise, etc. There is no evidence that Mr. Obama consulted New Delhi about the impending shift in the US strategy in India’s immediate
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LeapFrog open to being bought: CEO
O) and Hasbro Inc (HAS.O) have already raised prices this year amid rising costs of resin, freight and labor in China. “For us we feel that at the beginning of this year that we planned our cost of goods pretty effectively. It’s still early days and
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Former Treasury chief Paulson joins University of Chicago
Crain’s Chicago Business
The Paulson Institute will focus on relationships between the US and China, working to encourage environmental protection and developing clean-energy sources, and creating jobs through ” economic activity and cross-investment between the two countries
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E-Waste Bill Reappears in the US House with Rare Earth Provision
“It will bring recycling jobs back to the US” The bill addresses the toxic exposures caused by e-waste dumping and primitive recycling operations in countries like China, India, Nigeria, Ghana, which have the subject of recent media exposés,
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Factbox: Bachmann enters field of 2012 Republican contenders
Huntsman annoyed the White House by resigning in April as Obama’s US ambassador to China to consider whether to seek the Republican presidential nomination. Huntsman, 51, entered the race on June 21 and, like Romney, has roots in Utah and is a Mormon.
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