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U.S. China News 2011.07.04

Mon, July 4, 2011

US firms look to China’s West for growth
Washington Post
By Keith B. Richburg, CHONGQING, ChinaAmerican businesses are increasingly looking to China’s Western hinterlands as the future source of growth and profits, with Ford, Wal-Mart and other companies planning major investment and expansions in cities
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China listings in US could slow on accounting scandals -PwC partner
Reuters
some North America-listed Chinese companies triggered by recent accounting scandals will probably slow the momentum of Chinese firms’ IPOs in the United States, a partner at accounting firm PricewaterhouseCoopers China operations said on Monday.
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METALS-Copper up on US manufacturing data, risk appetite in China
Reuters Africa
By Carrie Ho SHANGHAI, July 4 (Reuters) – Copper extended gains on Monday during Asian trading hours on a surge of positive sentiment in China as investors speculated whether Beijing would move to further tighten monetary policy this month.
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China slams US resolution on Spratlys dispute
Philippine Star
MANILA, Philippines – China yesterday slammed the passage of a US Senate resolution condemning the use of force in the disputed waters in Southeast Asia, saying it “turns a blind eye to facts.” Chinese Foreign Ministry spokesman Hong Lei said the US
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Philippines will not buy second hand naval equipment from the US
gulfnews.com
Philippine President Aquino called for US assistance because of these problems. Then Manila baptized the South China Sea as the West Philippine Sea. Like Manila, Vietnam also accused China of activities that increased tension in the South China Sea.
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US, China engage in golf diplomacy
Philippine Star
By Abac Cordero (The Philippine Star) Updated July 05, 2011 12:00 AM Comments (0) Chinese Ambassador Liu Jianchao (left) makes a delicate pitch near the green while US Ambassador Harry Thomas Jr. coaxes a putt as former President Fidel Ramos looks on
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ASEAN must include US in talks on South China Sea
Jakarta Post
Jakarta understands that keeping both China and the USA inside the ASEAN tent is crucial. Last year Indonesia welcomed US Secretary of State Hilary Clinton’s offer to mediate the dispute, made in response to China’s claim (which it has since backed
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Washington targets average 56.2 miles per gallon for new American cars by 2025
AHN | All Headline News
The higher benchmark would place US-made vehicle’s fuel efficiency on par with cars in Europe, Japan and China. The US federal government is proposing new regulations that would require American vehicle manufacturers to produce cars that would have an
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Analysis: U.S. losing its independence?
The Salinas Californian
But holding huge amounts of US debt gives these nations a degree of leverage over us, especially on issues such as trying to get China to devalue its currency. advantage over us. It makes China’s exports to us cheaper and our exports to them more
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Facts and Figures for the Fourth
Patch.com
$190.7 million: The value of fireworks imported from China in 2010, representing the bulk of all US fireworks imported ($197.3 million). US exports of fireworks, by comparison, came to just $37 million in 2010, with Japan purchasing more than any other
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Peabody, China, Russia to develop Mongolia mine
AFP
ULAN BATOR — Mongolia said Monday it has chosen US miner Peabody Energy, China’s Shenhua and a Russian-Mongolian consortium to develop the highly coveted Tavan Tolgoi coal deposit in the south Gobi desert. Authorities are hoping Mongolia’s nascent
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Microsoft, Baidu Bolster Alliance in China as Google’s Market Share Drops
Bloomberg
By Mark Lee – Mon Jul 04 09:44:11 GMT 2011 People walk through the lobby of the Baidu Inc. headquarters in Beijing, China. Microsoft, which is gaining users for Bing in the US, is building on its partnership with Baidu after ending a search engine
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Economics is a belief system
Livemint
When it suited them, they argued that China distorted the US treasury market with its investment in US treasuries. That helped to keep the interest rate lower than it should have been. Thus, China encouraged Americans to engage in unhealthy borrowing
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Foster’s wine spin-off surges on report of Chinese interest
Chicago Tribune
A rising currency has been a constant headache for the company in recent years, cutting into its US wine earnings at Beringer when translated back into local currency. China accounts for two-thirds of Australia’s wine exports to Asia, or 6.3 million
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It’s None of Our Business Whether China Wants to Buy Shares of Facebook
Business Insider
Their motives for doing so are irrelevant as long as no laws are broken, and all the chatter about whether such a deal is a good idea is a negative influence on inward foreign investment in the US, and possibly corresponding deals in China by US firms.
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Ma: Democracy is shared value of US, Taiwan
Radio Taiwan International
He said a common core belief in democracy is the reason behind the strength of US-Taiwan relations. “Even though the United States ended formal diplomatic relations with the Republic of China [on Taiwan], it established the Taiwan Relations Act in
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China’s Imminent Collision With Peak Coal
Business Insider
It is licensed under a Creative Commons Attribution-Share Alike 3.0 US License. Dr. Li was a political prisoner in China from 1990 to 1992. He received a PhD in economics from University of Massachusetts Amherst in 2002, and he has been teaching
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Should China be “contained”?
CNN (blog)
The US and China put aside their intense hostility in a joint and successful effort to contain an expansionist Soviet Union. Today, the Soviet Union has vanished, and Chinese power is growing. Some Americans argue that China’s rise cannot be peaceful,
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Supporting the GOP and China Isn’t a Contradiction
CRIENGLISH.com
By Tom McGregor of China-World Affairs Column With my first commentary as a China-World Affairs columnist for China Radio International, I make a bold declaration: I’m a US Citizen who endorses China and the Republican Party.
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Subway eyes further China expansion
China Daily
By Ben Yue (China Daily) BEIJING – After overtaking McDonald’s Corporation in the number of its outlets globally, US fast food giant Subway now aims to more than double the figure in China over the next five years. A Subway restaurant and take-away in
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College Graduates: Too Many in China, Not Enough in America?
Business Insider
While China seems to have an over-supply of college grads, the United States, on the other hand, is not producing enough college-educated workers to meet economic needs and reduce income inequality, at least according to a new study –“The
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US Commodities Day Ahead: Funds Cut Commodity Bets on Outlook
Bloomberg
Andrew Michelmore, the Rhodes Scholar who plotted China’s biggest metals takeover bid, said Beijing isn’t calling the shots when it comes to buying commodities for the world’s fastest-growing major economy. Rising prices for barbecue staples including
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Quick News: American flags made in China
Press TV
While America is celebrating Independence Day, it has been reported that in 2010, the United States imported $3.2 million worth of American flags, according to foreign trade numbers released by the US Census Bureau, including $2.8 million from China.
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Asian Stocks Advance on U.S. Manufacturing
Bloomberg
Preiss also discusses US and China economies, and Federal Reserve monetary policy. He speaks with John Dawson on Bloomberg Television’s “First Up.” (Source: Bloomberg) Asian stocks advanced, with the regional benchmark index set for its longest winning
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Asian markets rise after US stocks rally
DAWN.com
Chinese investors monitor their stock prices at a security firm in Hefei, east China’s Anhui province on July 4, 2011. – AFP Photo HONG KONG: Asian markets rose on Monday after better-than-expected US manufacturing data sent Wall Street stocks rallying
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Former PBOC Adviser: European Countries Could Issue Yuan Debt -Report
Wall Street Journal
BEIJING (Dow Jones)–China should explore the possibility of European Union countries issuing yuan-denominated debt as part of a strategy to reduce over-reliance on US dollar assets, a former adviser to China’s central bank was quoted as saying in the
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Revival hopes rest on consumer comeback
Reuters
But price pressures remain uncomfortably hot in many countries, and further interest rate hikes are widely expected in India, China and other major emerging markets. That makes it even more important for US consumption to revive.
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Israel-China Relations Growing Deeper
The Media Line
Ehud Barak visited China in June, the first time in over a decade by a defense minister of Israel, which at one time sold over half a billion dollars of weapons to China annually before US squeezed Israel to halt those ties in the late 1990s.
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Carmakers, US joust over goals
Boston Globe
The standard would put domestic vehicle fuel efficiency on a par with that in Europe, China, and Japan, saving consumers billions of dollars at the pump and creating for the first time a truly global automobile market. The automakers say the standard
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‘Citizen U.S.A.‘: How newcomers give U.S. new blood
New York Daily News
Maybe the coolest part of HBO’s documentary on new American citizens is the way that without even trying, the newcomers sound so much like people who have been here for generations. A couple of teenagers from China say they’re like so psyched about
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Palm Oil at Eight-Month Low as U.S. Soy Supplies Grow
Bloomberg
US soybean supply expanded from last year despite strong demand earlier in the year from China,” said Paramalingam Subramaniam, director of Kuala Lumpur-based brokerage Pelindung Bestari Sdn. “With the super-bearish USDA numbers, funds will tend to
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Asia-Pacific Consultations
Voice of America
The United States and China discussed ways for both countries to promote greater cooperation on the challenges facing the region. US Assistant Secretary of State Kurt Campbell recently hosted Chinese Vice Foreign Minister Cui Tiankai for the inaugural
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NBA players lockout tour of China has to win over government first
ProBasketballTalk
Over at niubball.com — the best English blog about what is happening with basketball in China — they interviewed Matt Beyer, who works for North Head, a public affairs consultancy that represents a few NBA athletes in China. While to us the
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Report: Nestle in talks to buy Chinese candy maker
Forbes
It has grown into one of China’s largest confectionary companies. Nestle ( NSRGY.PK – news – people ) has nearly saturated the US with its products, which appear in 96 percent of US households, including nine brands that bring in more than $1 billion
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U.S. Census Bureau Daily Feature for July 4
Sacramento Bee
The US makes some $232 million worth of fireworks each year and imports another $191 million of them, mostly from China. It was on this date in 1776 that the Second Continental Congress adopted the Declaration of Independence, starting some 2.5 million
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China Working Hard to Build High-Performance Jet Engines
DailyTech
Analysts figure that it will take China five to ten years to match the engine performance that the US has in the F-22 Raptor or F-35. However, China is pushing hard for better engines and Collins notes that developing a Chinese high-performance engine
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Centennial gala in Philly inspired today’s China | Philadelphia Inquirer
Philadelphia Inquirer
In many ways their model for this was our own centennial, which marked a similar emergence for the United States. Li Gui’s memoir of our city and the fair became the first in-depth treatment of the cutting-edge technologies so eagerly sought by China’s
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Wal-Mart, Ikea Lead Retailers’ Push in China Land-Buying as Rentals Surge
Bloomberg
China last year surpassed Japan as the world’s second- biggest economy, and is forecast by PricewaterhouseCoopers LLP to eclipse the US by 2018. Urban household income per capita rose 13.7 percent in 2010 from 2009. The economy expanded 10.3 percent in
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Man of letters
China Daily
By Zhao Ying (China Daily) A veteran translator recalls the heady days of the 1930s when he and his colleagues worked on Marxist literature by the light of kerosene lamps in the caves of Yan’an. Zhao Ying from China Features reports.
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Five Things for Independence Day
Patch.com
Today, there are an estimated 311.7 million American citizens. 2. Look up in the sky! It’s a bird. It’s a plane. It’s … Chinese gunpowder. The US imported $190.7 million in fireworks from China in 2010. At the same time, US companies exported just
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Vietnamese Protesters Denounce China in Maritime Dispute
Voice of America
In each case, China insisted its ships were operating appropriately in waters under Beijing’s administration. Some information for this report was provided by AFP and Reuters. Related Articles US Seeks to Calm South China Sea Dispute US State
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No, the US Didn’t Declare Its Independence From China
DCist.com
Today, we learn that many of us are historically inept. According to a new poll, about one in four Americans doesn’t know from which country the United States declared its independence. The survey of 1003 adults taken last month said that 76% correctly
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Woman faces 10 years in illegal immigrant case
Houston Chronicle
A woman convicted in Mississippi of harboring illegal immigrants from China, El Salvador, Guatemala, Honduras, India and Mexico faces up to 10 years in prison when she’s sentenced next week. Sheren Nguyen was transporting nine illegal immigrants in a
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