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U.S. China News 2011.07.05

Tue, July 5, 2011

Rare Earths Discovery Won’t Solve USChina Tensions
The Atlantic
The minerals, of which China is by far the world’s dominant producer, are crucial for high tech consumer and military products, and thus for Japanese and US security and economic well-being. China has used its near-monopoly on rare earth metals as a
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China ETF in U.S. Loses Most Money as Mainland Brokers Say ‘Buy’
Bloomberg
Investors pulled a net $961.2 million from the iShares FTSE China 25 Index Fund (FXI) this year, the most among 140 single-country ETFs that trade on US markets, according to data compiled by New York-based research firm XTF Inc. The outflows coincided
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Manufacturing, 3D Printing and What China Knows About the Emerging American
Forbes (blog)
At the macro economic level, this trend is favorable to economies that are technology-advancing (ie, the US), not cheap-labor-centric (ie, for now, China). Consider then the aforementioned reality against the facts: the US and China are now,
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WTO ruling against China a ‘victory’: US
AFP
WASHINGTON — The United States on Tuesday called a World Trade Organization ruling that China illegally restricted exports of key raw materials a “significant victory” for US manufacturers and workers. “China’s policies provide substantial competitive
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China Said to Discuss Allowing SEC Probes of Mainland Firms for First Time
Bloomberg
Photographer: Adam Dean/Bloomberg US and Chinese officials will meet next week to discuss giving American securities regulators the right to investigate companies within China for the first time, said two Chinese officials with direct knowledge of the
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METALS-Copper rises on Chile supply concerns, US data
Reuters
Expectations that appetite from top consumer China will improve alongside European and US industry after summer — against a backdrop of constricted supply — has fed predictions that copper will print new records later this year.
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Poll: Should US Companies Be Allowed to Sell Surveillance Tech to China?
Wall Street Journal (blog)
Andy Wong/AP The Wall Street Journal reports today that Cisco Systems Inc. is expected to supply networking equipment essential to a video surveillance system comprising as many as 500000 cameras being installed in China’s largest municipality.
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China Leads Global Race to Match US Drone Capability
NewsMax.com
China is leading the pack in a global race to match US drone capabilities. The communist country has dozens of models under development, and it has shown that it has few qualms about exporting the deadly technology, The Washington Post reported.
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What the US Might Do About China’s “Go Slow” Approach to Revaluing the Renminbi
Forbes (blog)
Forcing a de-pegging now instead of later would force both the US and China to take their medicine now to deal with problems that might grow much larger in subsequent years if they don’t. [This article was originally written for the WSJ China.
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China to Award Shale Areas in Bid to Tap Reserves Exceeding U.S.
Bloomberg
By Bloomberg News – Tue Jul 05 05:43:11 GMT 2011 China is likely to name winners of the country’s first auction of shale-gas areas today as the world’s biggest energy consumer prepares to tap deposits estimated to exceed US reserves by 50 percent.
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US energy giant blamed for offshore oil leak
China Daily
BEIJING – China’s State Oceanic Administration (SOA) said Tuesday that US energy giant ConocoPhillips is responsible for an oil spill in the country’s northern sea area. The leak, which took place last month at the Penglai 19-3 oilfield in Bohai Bay,
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China Education posts Q1 profit of US$444K, reversing year-earlier loss
Winnipeg Free Press
VANCOUVER – China Education Resources, Inc. (TSXV:CHN) has reported a profit in its first quarter, reversing a year-earlier loss as it enjoyed a 28.8 per cent increase in quarterly revenue. The Vancouver-based provider of online training courses and
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US outpaces China in manufacturing
WIVB
The US produces twice as much as it did 50 years ago. Here are some advantages of manufacturing locally and some products made right here on American soil. These days, Americans may feel everything is made in China, but that’s actually far from true.
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CORRECT: PRECIOUS METALS: Gold Reclaims $1500 On Greece, US Worries
Wall Street Journal
“Concerns over Chinese inflation and worries over the US economy, as we approach the release of nonfarm payrolls numbers, are keeping investor interest in gold alive,” Standard Bank analyst Marc Ground said in a note. Worries about China’s efforts to
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Cultural program to visit US schools
Taipei Times
US students join President Ma Ying-jeou, center, at a press conference in Taipei yesterday to present a program to send “ROC treasure chests” to 1000 Adventist schools in the US to mark the 100th anniversary of the Republic of China.
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Dollar Rises as China Concern Spurs Safety Demand; Yen Declines
BusinessWeek
By Lucy Meakin July 5 (Bloomberg) — The dollar rallied versus the euro, snapping a six-day drop, on speculation China’s efforts to tame inflation will cool growth and damp demand for riskier assets. The US currency climbed against all but two of 16
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Our reliance on the US
Manila Bulletin
Unless the Philippines is physically invaded, or US vested interests are gravely compromised, any armed confrontation between the United States and China is deemed remote as of today, except for sporadic shadow boxing and saber-rattling over the
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Get Ready for US & China Trade, Culture & Education Conference 2011
Utah Pulse
The Chinese governors and their delegations (totaling approximately 200 business, political and education leaders) will visit Utah for the US & China Trade, Culture & Education Conference 2011, which will be held July 14-16. The Chinese governors are
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China Venture Chase Heats Up With $350 Million GSR fund
Forbes (blog)
GSR’s fund comes as China venture is overheated with too much money chasing too few good deals. Last year, China venture investment doubled to $5.4 billion. China IPOs racked up 22 of 61 IPOs on US exchanges. The IPO parade was slowing in the first
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Dalai Lama to meet with top US lawmakers this week
AFP
Pelosi, a long-time critic of China on human rights grounds, will attend the discussions, said the aide. The Dalai Lama was arriving in Washington on Tuesday to lead a 10-day Buddhist ritual known as the Kalachakra, which organizers expect to draw
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Emerging Market Stocks Decline for First Time in Six Days on China Concern
Bloomberg
Anantha-Nageswaran also discusses the US economy and Federal Reserve monetary policy, the outlook for oil, and China’s economy and local government debt. He speaks with Rishaad Salamat on Bloomberg Television’s “Asia Edge.
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Could Macau Be the Bridge for China-Latin America Investments?
Business Wire (press release)
“Growth in China is critical to Brazil’s economy. Since the year 2000, trade between Brazil and China jumped from US$1.1 billion to US$36.1 billion. And this year China surpassed the United States to become Brazil’s largest investor” The forum
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Baidu, Microsoft will provide English-language search service
China Daily
Chinese users account for only 8.6 percent of Bing’s total users globally, according to the researcher, and Bing is still a tiny player in online searches in China. By contrast, it accounted for 14.1 percent of the US search market in May,
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Crude Oil Falls a Third Day on China Growth Concern, IEA Supply Release
Bloomberg
By Grant Smith – Tue Jul 05 12:45:00 GMT 2011 Oil advanced, halting a two-day drop in London, on speculation of rising oil-demand growth in the US and China, the world’s two largest energy users. Brent rose as much as 1.3 percent before a report today
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Building trust,step by step
China Daily
By Wu Yiyao (China Daily) ‘China’s American‘ Sidney Rittenberg, one of the few foreign members of the Communist Party of China, recalls the ups and downs of his years in the country. Wu Yiyao reports. ‘I am American but I am China’s American,” says
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GLOBAL MARKETS-Stocks, euro retreat; oil soars 2 pct
Reuters
Concerns about China and the global economy boosted demand for safe-haven assets such as the Swiss franc, gold and US government bonds. The euro earlier dropped 1 percent to a low of 1.22059 Swiss francs EURCHF=EBS, retreating from a five-week high hit
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Platts US Morning Market Analysis: Asian BZ higher on SM demand
Platts
“Spot cargo is tight, sales of expandable polystyrene seems better and the macro economy of China seems stable,” a Chinese trader said. The US styrene price has been stable near $1360/mt FOB USG during the past week. The European price was flat to the
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HK Dollar Tad Up Late, But Reduced Risk Appetite Could Weigh
Wall Street Journal
HONG KONG (Dow Jones)–The Hong Kong dollar was slightly higher against the US dollar late Tuesday on the back of corporate demand from local banks, although worries over further tightening by China helped lift the greenback broadly higher.
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GM China sales jump to record highs
MarketWatch
GM also showed that the recovery in its home market is moving right along, with a 10.2% improvement in US June sales to 215358 vehicles. China overtook the US as the world’s biggest car market in 2009, but sales have slowed in recent months due in
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Starwood Boosts China Portfolio
Daily Markets
With the addition of 7 new hotels, Sheraton will operate 42 hotels in China by the end of this year. The seven hotels are expected to come up at Beijing, Xian, Chongqing, Yantai, Guangzhou, Zhenjiang, Wanning and Hangzhou. Outside the US, China is
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Troops out but military remains
China Daily
By Yuan Zheng (China Daily) Last month, US President Barack Obama announced a plan to withdraw some 10000 US troops from Afghanistan by the end of 2011 and another 23000 by next summer with the aim of giving Afghans control of their own security by
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Treasuries Rise as Stock Declines Increase Demand for Safety of U.S. Debt
Bloomberg
By Susanne Walker and Keith Jenkins – Tue Jul 05 14:11:23 GMT 2011 Treasuries rose, snapping a five-day rout, as a deteriorating credit outlook for China’s banks encouraged demand for the safety of US government debt. US bonds rose after Moody’s
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U.S. futures mixed after holiday weekend; Dow sheds 0.2%
NASDAQ
Forexpros – US stock futures pointed to a mixed open on Tuesday, amid concerns over a possible rate hike by China, while markets awaited key data on US factory orders to gauge the strength of the US economic recovery. Dow Jones Industrial Average
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Warming lull down to China’s coal
BBC News
China’s coal use doubled 2002-2007, according to US government figures. Although burning the coal produced more warming carbon dioxide, it also put more tiny sulphate aerosol particles into the atmosphere which cool the planet by reflecting solar
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Low carbon prosperity: is Europe ready for the challenge?
The Guardian
This view echoes those of policymakers across Europe and representatives from energy-intensive sectors who do not believe the EU should move beyond its existing commitment to 20% GHG reductions by 2020 until other countries such as the US or China set
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Canada Dollar Drops for 2nd Day Against Greenback on Pared Risk
San Francisco Chronicle
July 5 (Bloomberg) — Canada’s dollar weakened versus its US counterpart as investors pared riskier assets on speculation China will increase interest rates to cool growth and concern debt woes in Greece haven’t been contained.
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Chinese company counting on Silicon Valley talent
San Jose Mercury News
In recent years, concerns about Huawei’s ownership have scuttled its bid for a major telecommunications contract and forced the company to back away from two acquisitions after US officials objected to the deals. Huawei is one of China’s biggest
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Cheap flights to Asia: When to buy and fly
USA Today
China requires a visa that costs $140 per person for entry to the country and you must have six months remaining on your passport before expiration. Take a look at the chart below; nearly three-quarters of all trans-Pacific fliers from the US are
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Want to Enter Chinese Marketplace With Your U.S. Product? Powin Corporation’s
PR Newswire (press release)
Powin’s executive explains that the Company has a unique relationship with select China banks, E-Commerce and TV infomercial outlets, and mobile phone companies that allows it to showcase US products to elite Chinese consumers who have the ability to
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FOREX-Euro clipped after 6 days of gains on data, China
Reuters
Investors, however, were unlikely to push the euro lower before Thursday’s ECB policy meeting, An ECB rate increase has been well factored in by the market, with the benchmark German/US spreads within about 10 basis points of the recent high,
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US Official Calls for Legal Framework to Fight Cyber Crime
Insurance Journal
A senior Chinese official denied last week there was any cyber warfare between China and the United States, after weeks of friction over accusations that China may have launched a string of Internet hacking attacks. Accusations against China have
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Butler player shines on US team
News Sentinel
“It’s definitely a lot different because in the Final Four you do have some really good competition,” Marshall told USA Basketball after his team’s 82-66 win over China on Saturday. “You’ve got the best teams in the country playing against each other.
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