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U.S. China News 2011.07.01

Fri, July 1, 2011

GLOBAL MARKETS-Stocks gain on US data; oil down on China
Reuters
US crude oil prices CLc1 fell 0.95 percent to $94.50 a barrel after a report showed the Chinese factory sector grew at its slowest pace in 28 months. China is the world’s largest consumer of raw materials. [ID:nL3E7I104E] “There is no doubt that the
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China wants US out of Spratlys dispute
Journal Online
THE People’s Republic of China wants to settle peacefully through dialogues the controversy over the Spratly Group of Islands without the intervention of countries which have no claim in the disputed territories like the United States, a congressman
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China Stockpiled U.S. Debt
AdvisorOne
The US Treasury changed the rules in 2009 concerning how it conducts its auctions, and the reason was the stockpiling of US debt by China, according to a report that says that rule change substantially altered the configuration and bidding of the
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US, China in embassy billing spat
The Associated Press
The officials said these fees are usually waived as a matter of courtesy, but protocol demands reciprocity in such cases. Under an agreement between the US and China, Washington was obliged to help Beijing get local approval to revamp its former
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Sidney Rittenberg, The American Who Joined China’s Communist Party (VIDEO)
Huffington Post
He was part of the radical student movement in the US and went to China after World War II and lived there for 35 years. He says of his decision to join the party: “When I came to China, the country was in such desperate plight and the communists were
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India, China giving US stiff competition on jobs: Obama
Economic Times
WASHINGTON: Citing stiff competition from nation’s like China, India and Brazil , President Barack Obama has said he is not prepared to bring US deficit down by sacrificing education, medical research or rebuilding of infrastructure.
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Crude Oil Falls First Time in Four Days on Slowing Growth in China, U.S.
Bloomberg
The US manufacturing index reached 55.3 in June from 53.5 in May, according to the Tempe, Arizona-based ISM. It was forecast to drop to 52, according to the median estimate of 77 economists in a Bloomberg survey. The US and China are the world’s two
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Los Angeles firms bring apparel jobs home on cost concerns
Reuters
“Wage increases in China seem like a permanent change.” However, not everyone is convinced that the industry is experiencing a revival and data suggests the opposite. The US Bureau of Labor Statistics projected a precipitous drop in domestic
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Touches of the US part of China
Escanaba Daily Press
By Brittney Moraski , Daily Press HANGZHOU, China – In new surroundings, the familiar can be especially welcome. Compared to the US, many things in China are different – to begin with, the language, food, and many customs. Chopsticks are used instead
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Nation lifts rigid creative policy for foreign firms
China Daily
In a statement responding to the delinking, John Frisbie, president of the USChina Business Council, said although the measures represent only a portion of the full list of regulations that tie indigenous innovation and government procurement,
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JA Solar to Acquire Wafer Producer Solar Silicon Valley
MarketWatch (press release)
of Solar Silicon Valley Electronic Science and Technology Co., Ltd. (“Solar Silicon Valley”), a leading producer of solar wafers based in China, in a transaction that values Solar Silicon Valley at approximately US$180 million (the “Transaction”).
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US and Japan Teaming Up To Hold Down China: A Chinese Viewpoint
Worldcrunch
This time around the two allies promised to ratchet up their “curb China” strategies. Japan has in the past pulled the United States in to shake up the political and economic situation of East Asia. It is enlarging this scope to the South China Sea.
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CMIA Capital Partners To Launch Fourth US$200 Million China Fund
NASDAQ
SINGAPORE -(Dow Jones)- Singapore-based private-equity group CMIA Capital Markets said Friday it launched its fourth growth capital fund focused on China, which will be US$200 million in size. The fund will focus on companies with high exposure to the
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Kissinger Ducks Serious China Topic
NewsMax.com
Kissinger admits the fact that China’s population is by 1 billion people larger than that of the United States. China can have the largest army in world history, certainly several times larger than the US Army. So what do we hear from Kissinger,
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U.S. Commodities Day Ahead: Corn Extends Losses on Acreage Rise
Bloomberg
Oil declined, trimming the biggest weekly gain in almost three months, as signs of slowing manufacturing growth in China and the US, the world’s biggest energy users, stoked speculation fuel demand may falter. Treasury Secretary Timothy F. Geithner’s
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Philippine-US joint naval drill amid tension with China
VietNamNet Bridge
VietNamNet Bridge – The Philippines and the US have begun 11 days of joint naval exercises amid growing tensions with Beijing over disputed waters in the South China Sea (East Sea). US missile destroyers will join much older Philippine warships for the
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EMERGING MARKETS-Latam stocks up on US data, cap week of gains
Reuters
US data helped in the day, with faster growth in manufacturing ameliorating early concerns about slower factory sector growth in China. [ID:nN1E7600H5] and [ID:nL3E7I104E] “The battery of data from the United States perked up international markets,”
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BASE METALS: Copper Resumes Rally On Stronger US Data
Wall Street Journal
Earlier in the day, copper prices had dipped on weak manufacturing data from China. China’s official manufacturing Purchasing Managers Index fell for the third consecutive month in June, to a reading of 50.9, from 52.0 in May.
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ASEAN adrift in South China Sea
Asia Times Online
Last year’s Asian Regional Forum featured a dramatic clash between China and the US. US Secretary of State Hillary Clinton reemphasized the US’s strategic interests in the South China Sea. Her statement was praised by six of the 10 ASEAN members;
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Oil leak from ConocoPhillips’ China field cleaned up
Reuters
BEIJING, July 1 (Reuters) – A small oil leak from the Penglai 19-3 oilfield off China’s Bohai Sea, operated by US firm ConocoPhillips , has been largely cleaned up, with production barely affected, Chinese partner CNOOC Ltd and industry sources said on
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US Firms In China Pay More As Wages Rise
NPR
Factory managers in China are paying the price for success. Countless US businesses have relocated to China in search of cheaper labor. Now the cost of that labor is rising. David Wessel, economics editor for The Wall Street Journal, talks to Steve
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Reader comment: Chinese bridge shows US needs to invest in technology again
NOLA.com
By Times-Picayune Staff Top photo by the Associated Press / Bottom photo by The Times-PicayuneThe total over-water length for Jiaozhou Bridge in China is about 16 miles, says Carlton Dufrechou, Lake Pontchartrain Causeway general manager.
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CBS 3 Springfield – WSHM – News, Weather and SportsHong Kong strain of scarlet
WSHM-TV
Entertainment News from AP By Denise Mann THURSDAY, June 30 (HealthDay News) — A new strain of drug-resistant scarlet fever appears to be rapidly spreading through Hong Kong and mainland China, but US infectious disease experts remain confident that
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HANG ZHENG v. U.S. ATTORNEY GENERAL
Leagle.com
Hang Zheng, a native and citizen of China, petitions for review of the Board of Immigration Appeals’ (“BIA’s”) denial of his motion to reopen his application for asylum, pursuant to 8 CFR § 1003.2(c). In May 2010, the BIA denied Zheng’s original
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Stocks Jump on Manufacturing Data
Bloomberg
Factory output growth fell to the lowest level since February 2009, according to the China Federation of Logistics and Purchasing. “We had a positive surprise with US manufacturing data,” said Mark Luschini, chief investment strategist at
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OMK Seeks US Steel Mills to Expand Beyond Russia’s Nord Stream Gas Pipes
Bloomberg
By Ilya Khrennikov – Fri Jul 01 08:05:43 GMT 2011 “We are interested in the US tubular market, the world’s second-largest after China,” said Anatoly Sedykh, billionaire chairman of the company known as OMK. “Source: United Metallurgical Co. via
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Asian corn buyers to strike deals on sell-off
Khaleej Times
Purchases of US and South American supplies by Japan and South Korea, the world’s top two corn importers, and second-largest consumer China — which has already pocketed as much as 1.6 million tonnes of new-crop US corn this week — could put a floor
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In China, An IVF Clinic Grapples With Huge Demand
NPR
“We have many families in China who don’t even have one child,” Chen says. “So they need a child even more.” Experts in China and the US don’t believe that the infertility rate in China is unusually high. They also don’t believe that the growth of in
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Daily Roundup: US debt limit deadline looms
CNN (blog)
Syria: The UN Security Council extended the peacekeeping mission in the Golan Heights but pulled back from criticizing Syria of human rights abuses (AP) due to resistance from Russia and China. US Secretary of State Hillary Clinton said the Syrian
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Women in China and the US
China Daily
China has a hard-working culture, where many, mostly men, work very long hours. In that sense, the concessions made for pregnancy are proportionally lessened. But the article brings up a good case that the official laws need to be improved.
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PepsiCo looking to farm Chinese market
China Daily
Indra Nooyi, chairman and chief executive officer of PepsiCo, told China Daily that the US company is planning to establish new farms in China. She also said the introduction of more environmentally friendly technologies and equipment to farms in China
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Macau junket operator hopes Nasdaq listing polishes industry
Reuters
N) MGM China (2282.HK), are highly reliant on junket operators because they bring in about 70 percent of the glitzy enclave’s total gambling revenue. “Why are Macau revenues four times bigger than Vegas? It’s because of the junket industry. Without us
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Chinese Stocks CLNT, NEP and HRBN: Are They Overstating Their USA Presence?
Small Cap Network
Bloomberg recently scrutinized Chinese stocks CLNT, NEP and HRBN for overstating their presence in the USA. By John Udovich China Wind Systems (NASDAQ: CLNT, CWS) or Cleantech Solutions International, China North East Petroleum Holding (AMEX: NEP) and
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US Stock Futures Little Changed On Global Data; Hot Stocks: F, GM, APOL, DRI
istockAnalyst.com (press release)
US stocks futures were little changed Friday as investors cautious after the data that showed a slowdown in manufacturing for Europe and China, ahead of the key US manufacturing data and the auto sales figures of major automakers in the US.
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Winners and losers in the Apple economy
Reuters Blogs (blog)
You don’t need to read the iPod study to know that a lot of those overseas workers are in China. But, given how large China currently looms in the US psyche, it is worth noting that fewer than half of the foreign iPod jobs — 12270 — are in the Middle
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Scout Investments Economic & Market Outlook
Kansas City Star
Developing markets, led by China, will continue to grow more rapidly over the long term than the world, on average. Central banking activities within these countries on balance have been restrictive for various periods of time, and are starting to
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The China Syndrome…of Another Kind
Resource Investor
Spot quotes received during the wee hours showed the yellow metal trading near the $1486.00 mark per ounce despite a slightly lower US dollar but certainly being “assisted” by a larger-than-$1 slippage in black gold. For the time being, the news that
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Australia Stocks Post First Quarterly Loss in Year as Oil Prices Retreat
Bloomberg
Mining companies sank as an index of metals traded in London dropped 3 percent through June 30, driven by reports showing that manufacturing growth in China, the US and Europe slowed in May. Speculation that rising inflation may prompt Chinese
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China Natural Resources Releases 2010 Annual Results of Operations
MarketWatch (press release)
The RMB is not freely convertible into foreign currencies and no representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate, or at all. About China Natural Resources:China Natural Resources, Inc.,
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No Matter How Much It Spends, China Can’t Buy More Control over the U.S. Economy
BNET (blog)
According to an investigation by Reuters, this was done to stop China’s use of third parties to get around limits on the quantity of Treasury bonds they could buy. In theory this would have given Beijing more leverage over the US economy while keeping
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Mired in a Colossal Muddle
CounterPunch
China’s reliance on exports and a controlled currency for growth, for instance, will no longer work if US consumers are engaged in a chronic saving spree, as I believe they will be. Chinese export growth, which averaged 21 percent per year in the last
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China trade delegation sees a lot to like in Idaho
IdahoStatesman.com
And the China Council itself put itself fully behind the state’s efforts to build on its $657 million in Idaho-to-China exports in 2010. China is the state’s third-largest trade partner. “Idaho has the most favorable policies for investment in the US,”
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Estimating Chinese Holdings of US Debt
The Takeaway
China celebrates its 90 th year of Communist rule today; but in the background, the nation is playing deeply capitalist games with international debts. China owns a large portion of US debt, but a Reuters investigation shows that they may have more
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