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U.S. China News 2011.07.06

Wed, July 6, 2011

Dollar Falls on U.S. Rate Outlook; China Bank Shares Decline, Oil Advances
Bloomberg
(Source: Bloomberg) Most US stocks fell for a second day and commodities dropped as China raised interest rates and American service-industry growth slowed, while bonds of Europe’s most-indebted countries slid and the euro weakened after Moody’s
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US Stock Futures Extend Losses After China Raises Interest Rates
Wall Street Journal
By Simon Kennedy US stock market futures extended losses Wednesday after China said it will raise interest rates by a quarter-point, while investors also looked ahead to employment data later in the week. Futures on the Dow Jones Industrial Average
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U.S. stocks open lower after China hikes rates
MarketWatch
By Kate Gibson, MarketWatch NEW YORK (MarketWatch) — US stock indexes fluctuated on Wednesday as investors considered a weak read on the US services sector, China’s latest interest-rate increase and a downgrade of Portugal’s credit rating.
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Corn, Wheat, Soybeans May Fall as China Boosts Rates, U.S. Crops Improve
Bloomberg
6 cents a bushel lower on the Chicago Board of Trade after China raised interest rates for the third time this year to slow inflation, and weekly US crop conditions improved, said Jim Gerlach, the president of A/C Trading Inc. in Fowler, Indiana.
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U.S., China reportedly to discuss stock probes
MarketWatch
By Chris Oliver, MarketWatch HONG KONG (MarketWatch) — Chinese and US officials are due to hold meetings next week to discuss reforms that could see American regulators granted special powers to investigate companies within China for the first time,
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GOP Candidate McCotter: China Is Threat to US
NewsMax.com
(Getty Images Photo) And, in a wide-ranging interview, McCotter said Washington has to stop cozying up to China and treat the world’s most populous nation as a threat. McCotter, a five-term representative from Michigan, was talking to Newsmax just days
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ChinaUS Ping Pong Diplomacy Celebrated in US
CRIENGLISH.com
“Forty years ago, thanks to the extraordinary strategic vision and remarkable diplomatic skills of our leaders of the older generation, that magic small ball (pingpong) successfully gave a big push to the big ball of ChinaUS relations,” Chinese State
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China to Offer New Shale Areas to Tap Gas Reserves Topping U.S.
Bloomberg
Photographer: Paul Hilton/Bloomberg China, estimated to hold more gas trapped in shale than the US, will open new areas to exploration as PetroChina Co.’s parent and Cnooc Ltd. (883) seek drilling technology through partnerships and acquisitions.
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EMERGING MARKETS-Latam currencies weaken as China hikes rates
Reuters
By Jeb Blount RIO DE JANEIRO, July 6 (Reuters) – Most Latin American currencies weakened against the dollar on Wednesday after China raised the cost of borrowing and Portugal’s debt rating was cut to junk, moves that dimmed expectations for world
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China and US Will Remain Close
Economic Observer
China and US defense policies have been changing. America’s arms sales to Taiwan in 2010 led to a disruption in bilateral military ties, followed by a break in security cooperation and dialogue. It wasn’t until president Hu’s visit to the US early this
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Gasoline Declines as U.S. Job Cuts Increase, China Raises Rates
San Francisco Chronicle
July 6 (Bloomberg) — Gasoline slipped after reports of greater US job cuts and higher interest rates in China increased concern that the global economy is weakening and demand will fall. Futures sank 0.8 percent as employers planned to fire 5.3
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US China Mining Group, Inc. to Present at 2011 Global Hunter Securities Conference
PR Newswire (press release)
US China Mining is scheduled to present Tuesday, July 19 at 8:00 am on Track 3. Conference participation is by invitation only and registration is mandatory. For more information on the conference or to schedule a one-on-one meeting, please contact
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US STOCKS SNAPSHOT-Wall St edges lower on Portugal, China
Reuters
NEW YORK, July 6 (Reuters) – US stocks opened lower on Wednesday after Moody’s downgrade of Portugal’s credit rating to “junk” and China’s interest rate rise sparked jitters about global growth prospects. The Dow Jones industrial average .
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Bangalore: India lags behind China, US in nanotech: Prof Rao
Mangalorean.com
Rao further elaborated on the uses of nano and cautioned that India had to do all it could to catch up with the technologies being developed by China and the US within the next 10 years or risk being left behind. Minister for IT/BT, VS Acharya said the
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How Water Prices In China Affect Diesel Prices In The US
NPR (blog)
by Jacob Goldstein An American trucker barreling down Interstate 95 bemoaning the high price of diesel fuel might never imagine that one of the things driving up his bill is the way water in China is being mispriced. But the truth is, water shortages
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Canadian Stocks Retreat as U.S. Service-Sector Index Declines
San Francisco Chronicle
July 6 (Bloomberg) — Canadian stocks fell for the first time in seven days as energy shares and banks retreated after China raised its benchmark interest rates and the Institute for Supply Management’s index of US service industries declined.
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China expected to invest US$9 billion in Brazil this year
Macauhub
Beijing, China, 6 July – China is expected this year to invest US$9 billion in Brazil, half of which in hi-tech industrial projects, the executive secretary of the Brazilian Ministry of Development, Industry and Commerce, Alessandro Teixeira told the
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China holds US company to account for oil spill
China.org.cn
The oil leaks in the Bohai Bay last month polluted an area of 840 square kilometers in the sea and US company ConocoPhillips should be held accountable for the incidents, China’s ocean authorities said. The spills have caused “a certain level” of
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In Photos: China Trumps US With World’s Longest Sea Bridge
PBS NewsHour
China’s bridge connects the eastern port city of Qingdao to Hongdao Island, reportedly cutting in half the time it takes to traverse the two from 40 minutes to 20 minutes. View all of our World coverage and follow us on Twitter.
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In China, Big Brother is Watching, U.S. Is Helping
Death and Taxes
Today, however, the Wall Street Journal reports that China’s southwestern city of Chongqing is getting ready to roll out a surveillance system comprised of 55000 cameras—all made possible by American company Cisco and its software partner, Intergraph.
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China Overtakes US As World’s Largest Energy Consumer
RTT News
Chinese energy consumption grew by 11.2 per cent from 2009, while the US marked only a 3.7 per cent increase, resulting in China overtaking the US as the world’s largest energy consumer. However, in the oil market, the US is the biggest buyer in the
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China – Buying US Debt Illegally?
Coosa Valley News
The US has now cracked down on the process so China is now using banks in Britain to buy the debt. So according to official statistics the nearly bankrupt British bought over $350 billion in US debt while China theoretically sold $36 billion.
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Global insurance sales up 2.7 pct in 2010, led by China – Study
Reuters
Total worldwide premiums for the year rose to $4340 billion, Swiss Re said on Tuesday, driven by China and Latin America, where sales grew by 26.2 percent and 8.2 percent respectively. That more than offset a 0.2 percent downturn in the US,
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Stronger US dollar, rising Chinese interest rates push crude oil lower
CanadianBusiness.com
THE CANADIAN PRESS/AP, Hasan Jamali NEW YORK, NY – A stronger Us dollar and higher interest rates in China are keeping a lid on oil prices. Benchmark West Texas Intermediate crude for August delivery was down eight cents at US$96.81 a barrel in midday
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US sparks global drone arms race
Tehran Times
With the ascendance of China’s military, American allies in the Pacific increasingly see the United States as the main bulwark against rising Chinese power. And China has increasingly framed its military developments in response to US capabilities.
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WTO says China’s rare earths export controls violate international rules, US
Engadget
The investigation was originally spurred 18 months ago, after the US and other countries complained that China’s quotas and tariffs unfairly favored domestic manufacturers, while distorting global prices. Experts expect Beijing to appeal the ruling,
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ISM Shows Little Improvement in Job Growth, China, EZ Debt
NASDAQ
Add to that the prospect of slower growth in China and investors rushed back into the arms of the low yielding US dollar . Without the blessing of rating agencies, the Greek vote provided very little assurance to investors that a default would be
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How to Ensure Strong Boards and Proper Accounting Standards in China
Forbes (blog)
The biggest difference is that there is a greater degree of confidence in the financial statements in the US compared to China today. If the Chinese government wants to better insulate itself from a possible risk that there could be widespread
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MARKET SNAPSHOT: U.S. Stocks Resume Gains In Limited Volume
NASDAQ
By Kate Gibson, MarketWatch NEW YORK (MarketWatch) — US stock indexes reverted to gains Wednesday as investors looked beyond a weak reading on the US services sector, China’s latest interest-rate increase and a downgrade of Portugal’s credit rating.
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China, India and US are top 3 in world population
Bizjournals.com
New estimates from the US Census Bureau put China in the lead with 1.34 billion residents, followed by India with 1.19 billion. The United States is a distant third with 311.1 million people. The United States ranks third in world population — and
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Thousands fete Dalai Lama on birthday in US
AFP
The White House has stayed mum on whether President Barack Obama will meet the Dalai Lama, a move that would be certain to anger China which has tried for years to isolate the Tibetan spiritual leader despite his global popularity.
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U.S. Treasuries Advance After Moody’s Lowers Portugal Debt Rating to Junk
Bloomberg
By Susanne Walker – Wed Jul 06 16:23:23 GMT 2011 Treasury 10-year note yields touched a one-week low as China said it will increase interest rates for the third time this year to contain inflation, spurring concern economic growth will slow and
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Ad campaign promotes US immigration process
China Daily
By Zhang Yuwei (China Daily) NEW YORK – The US Bureau of Citizenship and Immigration Services (USCIS) has launched its first ever paid ad campaign urging roughly 7.9 million green card holders to become naturalized citizens.
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A Wave of Chinese Investment Buoys Small American Companies
New York Times
Mr. Kircher had met LDK executives in China through two California financial institutions, Roth Capital Partners in Newport Beach and East West Bank in Pasadena. “LDK Solar’s investment will allow us to compete for many projects across the United
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OnGreen Partners with JUCCCE and University of Michigan Erb Institute to
San Francisco Chronicle (press release)
OnGreen, the global marketplace for cleantech investment, announced today it has formalized a research grant to the University of Michigan Erb Institute for Global Sustainable Enterprise in collaboration with with the Joint USChina Collaboration on
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Common Politics Muddy Waters in Rare Earth Discovery
CNBC.com
The US Geological Survey estimates that there are around 110 million metric tons of rare earth reserves on land, half of which are in China. The US has around 13 million tons of reserves. With unattributed figures of 80-100 billion tons of seabed
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Despite rising costs, China’s New Star investing to expand
Plastics News
“The US market is down but they need to save costs,” he said. “They need to find resources in other countries.” New Star, which employs 120 in China, set up a US sales office in 2007, in Bantam, Conn., and also has one in Denbighshire,
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PRECIOUS-Gold hits two-week high on inflation, debt concerns
Reuters
By Jan Harvey LONDON, July 6 (Reuters) – Gold prices hit a two-week high on Wednesday, extending the previous session’s 1.3 percent rise, as a rate hike from China put inflation concerns back in the spotlight, and as worries over euro zone and US debt
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The Big V: The great games market split
VentureBeat
So the US and the console markets remain great games markets. Yet compared to countries like China, the US is no longer the leading games Volume market in terms of gamer population. Even compared to Europe, the US is smaller by volume.
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Stocks Turning In Another Lackluster Performance Early On – U.S. Commentary
RTT News
The weakness among banking stocks comes on the heels of news that China’s central bank raised interest rates for the third time this year in its latest move to combat rising inflationary pressures. The People’s Bank of China raised the benchmark
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Will America’s budget deficit bring an end to world peace?
TIME (blog)
But most of the leadership of Asia fully realizes that the US military presence in the region has, without question, provided a stability rarely experienced. The traditional rivalries between local powers (China, Japan and Korea) have been kept at bay.
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Bank plan would help build bridges, boost jobs
msnbc.com
Proponents of a national infrastructure bank in the US say it could help provide funding for a high-speed rail line, such as the one in China pictured above, and help repair the nation’s crumbling roads and bridges. By Anika Anand China announced last
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US cattle: Live cattle slip on dollar, commodity demand concerns
CattleNetwork.com
US cattle futures are mostly weaker as a strong dollar and increase in China’s interest rate pulls down commodities generally. CME live cattle for August delivery was recently down 0.75 cent, or 0.67%, to $1.126 a pound in early trading.
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US services growth slows in June, employment stable
Reuters
US stocks were little changed immediately following the data, with investors focused on renewed worries over the euro zone’s sovereign debt crisis and an interest rate hike from China. Treasuries prices added a small gain after the weaker-than-expected
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