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U.S. China News 2011.06.28

Tue, June 28, 2011

China rejects US involvement in South China Sea disputes
Christian Science Monitor
China soundly rejected a US Senate resolution criticizing its actions in the South China Sea and calling for multilateral negotiations, saying the regional dispute is not a matter for the US. Protesters release doves during a peace rally in front of
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US Trade Officials Urge China To Further Open Up Its Markets
Wall Street Journal
The officials took stock and identified policy concerns ahead of the annual JCCT meeting to be held in China later this year. “We are focused on creating a balanced and healthy USChina trade relationship and we believe China should take steps to open
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Romney Says US Has Basis To Cut Off Open Trade With China
Huffington Post
Mitt Romney appeared to ratchet up the rhetoric beyond even that one-liner, suggesting that there was a basis for ending US trade relations with China altogether. “I’m not sure, weather the intellectual property you have is regularly being stolen by
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Surging China costs turn some US makers homeward
Reuters
Why move production from the world’s low-cost workshop back to a unionized US factory where wages are six times higher than in China? Efficiency: The machine in Milwaukee is about 30 times as fast as the Chinese factories the company had been buying
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FEATURE-Surging China costs turn some US makers homeward
Reuters
N) was ordering more padlocks from suppliers in China instead of making them. Why move production from the world’s low-cost workshop back to a unionized US factory where wages are six times higher than in China? Efficiency: The machine in Milwaukee is
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US Lags Behind China, Colombia in Bus Rapid Transit
New York Times
The cities that have delivered this vision most successfully while cutting the most carbon are not in the United States or even Europe. They are in South Africa, Colombia, India and China. The United States‘ top five systems fall well short of these
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New San Francisco bridge built in China to be shipped to US
Telegraph.co.uk
According to Engineering News Record, five of the world’s top 10 contractors, in terms of revenue, are now Chinese, with likes of China State Construction Engineering Group (CSCEC) overtaking established American giants like Bechtel.
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China Stock ‘Halt Parade’ Hits A-Power Energy
TheStreet.com
clean-energy projects in Nevada with Senator Harry Reid, among others. As late as April, A-Power was issuing press releases saying that its chairman and founder had met with Reid and other US dignitaries who were visiting China on a state visit.
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Lagarde three giant steps closer as Russia, China and the US back her IMF bid
Spectator.co.uk
And China pledged its ‘quite full support’ late last night. Finally, the US broke its self-imposed silence this morning and backed Lagarde. Those last two should prove decisive. For her part, Lagarde is very confident of victory.
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China eyes Canada oil, US’s energy nest egg
Malaysia Star
CALGARY, Alberta: In the northern reaches of Alberta lies a vast reserve of oil that the US views as a pillar of its future energy needs. China, with a growing appetite for oil that may one day surpass that of the US, is ready to spend the dollars for
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China’s backing for euro adds to pressure on US
Belfast Telegraph
According to Joe Biden, Congress has to convince the financial markets that, unlike Greece, the US political system can at least take difficult decisions. The other is China. China holds $1.15trn of US treasury debt. Until this year it seemed willing
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Report: U.S. blocks F-16 sale to Taiwan
DoD Buzz
As with everything involving the US, Taiwan, and mainland China, the details are complicated and almost absurd, as reporter Wendell Minnick writes: A US defense industry source said that Taiwan’s de facto embassy in Washington, the Taipei Economic and
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Moly Mines Signs US$494 Million Debt Facilities for the Spinifex Ridge
MarketWatch (press release)
(asx:MOL) is pleased to announce that it has today signed various project debt agreements with China Development Bank Corporation (CDB) totaling US$494 million for the construction of the Spinifex Ridge Molybdenum / Copper mine (Spinifex Ridge).
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Africa not as compelling as Asia-Pacific – Ford CFO
Reuters
PRETORIA, June 28 (Reuters) – Africa may be growing quickly, but it still offers less opportunities than more robust emerging markets such as China and India, the CFO of US car maker Ford Motor Co (FN) said on Tuesday. With an an average economic
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OneSuite.com Strengthens USChina Business & Family Ties: Offering China Local
PR Newswire (press release)
“OneSuite Forwarding aims to help close the distance for the increasing number of families with members studying or working abroad, resulting from the soaring USChina trade, and President Obama’s 100000 Strong Initiative,” said Alice Ching,
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Conflicting signals from US, China on Spratlys
Inquirer.net
Fresh from a US trip, VP Binay correctly asked for “specifics” on how our long-time ally would aid the Philippines. (“Binay wants specifics on how US will help PH,” Inquirer, 6/ 20/11). The resolution of the Spratlys is China’s call; as such China is
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US Human Trafficking report: From America to Africa, Europe, China and the
International Business Times
First, in holding emerging powers such as China and India accountable for the massive prevalence of trafficking and slavery within their borders. Second, for the US to hold itself accountable for its anti-trafficking efforts, even as programs are being
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China’s Five Year Plan
Economic Populist
Did you know China has a five year plan? They do and it’s a doozy according to a USChina Economic and Security Review Commission. Yup, China has a strategy in play and it’s on Indigenous Innovation and Technology Transfers, and Outsourcing.
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Administrators Take Over Simclar’s UK Business
Circuits Assembly
The business unit which has sites in China, the US, Mexico and the UK, where it employs 217 workers, reportedly intends to maintain its operations in China and the US. This could mark the end of the EMS firm’s operations in the UK, however.
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PH-US war games start amid Spratlys dispute
ABS CBN News
MANILA, Philippines- The Philippines and the United States are set to hold joint naval exercises in Palawan in the next 11 days amid Manila’s ongoing row with China over the Spratly Islands. Two guided missile destroyers of the US Navy that will take
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A Goose Chase: US Unemployment and China
International Affairs Review
This distinction has important implications for the USChina trade relationship. To illustrate, consider the iPhone. According to conventional trade data, China exported $2 billion dollars worth of iPhones in 2009. However, a mere $73.5 million —less
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US Stock Futures: HOT STOCKS TO WATCH
Wall Street Journal
Home Entertainment Group’s joint venture in China, expanding its offerings of new releases and other titles to its library, sending its American Depositary Shares higher 6.7% to $29.16 premarket. Senior Housing Properties Trust (SNH)–a REIT that owns
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Quantum urges US to stockpile rare earths in light of China restrictions
SteelGuru
Mr Peter Dickie CEO of Quantum Rare Earth Developments Corporation said that Mr Barack Obama president of US should counter China’s actions and move aggressively to set up a US stockpile of rare earth materials. Mr Dickie said that “China’s activities
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Cameco and Ur-Energy Poised to Benefit From Unexpected Uptick in Uranium Demand
MarketWatch (press release)
Although several European nations intend to dissolve their nuclear energy programs over the next decade, the United States and China could be preparing to boost nuclear energy use. The Bedford Report examines the outlook for companies in the Uranium
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Local governments’ US$1.65t debt
EastDay.com
China’s local governments are in 10.7 trillion yuan (US$1.65 trillion) of debt, according to a report by the National Audit Office. Only 54 county governments out of nearly 2800 in the country had zero debt, it said. Some analysts worry that local
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China Boosts Lumber Imports Despite Production Boost From Sino-Forest
MarketWatch (press release)
NEW YORK, NY, Jun 28, 2011 (MARKETWIRE via COMTEX) — Cost cutting measures and industry efforts to diversify away from the US housing market are allowing the wood products sector from post impressive numbers. Forest plantation operators in China are
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Richard Deitsch: Can Women’s World Cup find an audience?
SI.com
The United States victory over China in the 1999 Women’s World Cup final –perhaps you remember this cover — averaged 17.9 million viewers on ABC, and the network estimated 40 million Americans tuned into the match at some point.
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Also Sprach Analyst
Business Insider
Unfortunately, I have to say that China is, in these respects, same as the pre-Great depression US and pre-1990 Japan. It has an undervalued currency, and it ran trade surplus with other countries. That makes independent monetary policy hard,
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Gold and Energy Demand to Ease Off?
Morningstar
Furthermore, in both China and the US, metal inventories have risen at a time of falling new orders, which further supports the thesis that a slowdown in metal demand is on the horizon. As dynamics in the base metals complex is heavily influenced by
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GRAINS-U.S. corn snaps back on bargain hunting after sell-off
Reuters
July soybeans Sc1 added about 0.3 percent to $13.34-1/4 per bushel, extending modest gains on Monday after the US Department of Agriculture (USDA) reported fresh sales to China. * Investors have moved to liquidate long positions in grains due to
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China kicks off first shale gas tender
Reuters
In March, the US Energy Information Agency estimated China holds 36.1 trillion cubic metres (1275 trillion cubic feet) of technically recoverable shale gas reserve — significantly higher than US reserves of 24.4 tcm, the next largest.
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Red scare comes from ink, not from China
Las Vegas Review-Journal
Neither is true: The worst that will happen if the United States can’t repay the bonds China holds is default. The US Army — in which Amodei once served — is a pretty good hedge against foreclosure. As for voting to keep the debt ceiling intact,
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Nigeria: Chinese Coys to Fix Kainji With US$81.7 Million
AllAfrica.com
Two Chinese companies, Hydro China and Harbin Electric Corporation yesterday signed a contract of $81747642.49 (about N12.2 billion) with the Power Holding Company of Nigeria (PHCN) to rehabilitate the Kainji Power Station. The funding of the contract
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Wal-Mart plans China e-commerce hub in Shanghai
MarketWatch
The move, which took place on Monday, came after the US hypermarket operator announced a plan to buy a minority stake in major Chinese online retailer Yihaodian for an undisclosed sum last month. “The scale of online sales in China is expanding rapidly
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Sudan claims US scheme to hijack presidential plane thwarted
Al-Bawaba
According to them, a US scheme to intercept Bashir’s plane has failed. Bashir was officially welcomed in China after his plane yesterday had to change the course of the flight in the wake of Turkmenistan’s refusal to allow it to use its space en route
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Nike Q4 profit outstrips expectations
just-style.com
Sporting goods giant Nike beat analyst expectations with double-digit rises in fourth quarter profit and revenues, fuelled by growth in North America and China. The US company reported growth in all regions except Japan and central and eastern Europe
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Youku.com Begins Pay Service in China, Adds 450 Warner Bros. Movies
Bloomberg
Photographer: Keith Bedford/Bloomberg Youku.com Inc. (YOKU), the largest online video site in China, said it partnered with Warner Bros. to offer US video-on-demand titles to Chinese Internet users starting today. The three-year agreement with the Time
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George Soros Predicts Economic Collapse; But China Says Not So Fast!
ETF Daily News (blog)
As he put it: “There is concern as to whether China can rein in inflation and sustain its rapid development. My answer is an emphatic yes.” It wasn’t all sweetness and light. Not with the US debt limit talks running off the rails.
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Cirrus bought by Chinese firm
Minneapolis Star Tribune
Brent Wouters, president and CEO of Cirrus, said in a statement that he was “excited” and that China Aviation resources “will allow us to expedite our aircraft development programs and accelerate our global expansion.” News of the proposed sale a few
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Monster Mash: Supreme Court won’t hear Norton Simon case; China seeks millions
Los Angeles Times
Rejected: The US Supreme Court has decided not to take up an appeal from Marei Von Saher, who is trying to wrest a 480-year-old painting from the Norton Simon Museum. (Los Angeles Times) No stopping: China has asked dissident artist Ai Weiwei,
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Nike sprints closer to 52-week high
Forbes
Revenue in China, its second largest market, rose 21 percent. Emerging markets experienced 25 percent revenue growth. “Given the strong product innovation and athletic trends in the industry as well as the upcoming events such as the London Olympics
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US women eager to win another World Cup
Kansas City Star
It’s a feeling, remarkably, that the United States hasn’t enjoyed since beating China in the 1999 final, which produced one of the seminal soccer moments in this country — Brandi Chastain’s shirt-removing jubilation. While the men’s national team
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