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U.S. China News 2011.07.13

Wed, July 13, 2011

United States Should Stay Out of the South China Sea Disputes
CHINA US Focus (Fred S. Teng)
The wave of tensions in the South China Sea has escalated sharply in recent weeks, and it didn’t help when the United States openly encouraged the Philippines and Vietnam to take more provocative actions …
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Mullen wraps up China visit, “confident” of USChina military ties
Xinhua
Early this year, President Hu Jintao paid a state visit to the United States, during which he reached a consensus with US President Barack Obama on jointly building a ChinaUS partnership that will feature mutual respect, mutual benefit and win-win
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China growth data lifts US stocks
AFP
NEW YORK — US stocks rose as markets opened Wednesday, propelled by upbeat economic data from China which indicated that growth was still robust in the world’s second-largest economy. The Dow Jones Industrial Average climbed 72.69 points (0.58 percent
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Russian Stocks Advance as China Growth, US Supplies Spur Oil
Bloomberg
China is the “last bastion of growth” and is far from losing its “enviable status,” Slava Smolyaninov, deputy head of research at UralSib Financial Corp., wrote in an e-mailed report. “Should that trend sustain, the Russian equity market will continue
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US, China Military Chiefs Take Steps Toward Thaw
Wall Street Journal
By JEREMY PAGE HANGZHOU, China—Adm. Mike Mullen, chairman of the US Joint Chiefs of Staff, wrapped up a four-day visit to China with a rare visit to a submarine base on an island off the country’s eastern coast, a day after being given access for the
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After Comments from Japan, China and U.S., Expect a Weaker Dollar
Seeking Alpha
Comments from Japan, China and the US Federal Reserve in combination with recent moves in gold strengthen our conviction that the US dollar is not about to see a period of strength, but rather getting ready for a new move to the downside.
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China’s Economy Weakens: Implications for the US
Heritage.org
The lessons for American policymakers are mixed: The People’s Republic of China (PRC) is not 10 feet tall, but the US must avoid similar errors. China’s GDP was said to grow 9.6 percent on-year in the first six months, slowing slightly in the second
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China Orders US Oil Firm to Halt Drilling Off Coast
Voice of America (blog)
Chinese authorities have ordered an American company to halt operations in an offshore oil field where two spills were revealed last week. The State Oceanic Administration said Wednesday it had ordered ConocoPhillips China to stop its work at the field
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US expatriates pursue American dream in China
USA Today
“There are a lot of really bright young Americans who are here in business or studying, and they are building great bridges between the USA and China,” says Thomas Skipper, minister counselor for public affairs at the US Embassy in Beijing.
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ASIA FX: US Dlr Mixed, Strong China Data Lifts Risk Sentiment
IMarketnews.com
“Thanks to China, euro-dollar turned around from $1.3970 to $1.3995.” Soon after, euro-dollar recovered further to break through $1.400, and was trading around $1.4021 just before midday here, compared with around $1.4000 near the US close overnight.
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LIVESTOCK-U.S. hogs lower as China purchases awaited
Reuters
By Bob Burgdorfer CHICAGO, July 12 (Reuters) – US hog futures closed lower on Tuesday on profit taking a day after the market rose the daily limit due to talk of huge pork sales to China. Pork sales to China were still expected, but on Tuesday,
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U.S. Stocks Climb As Bernanke Speaks: China Stocks Rocket
Investor’s Business Daily
The China-based online game provider has been sawing its way up the right side of a two-month consolidation. Sohu.com (SOHU), the majority shareholder of Changyou, also grabbed a 4% gain. Among US-based stocks, Ancestry.com (ACOM) surged 5%,
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EMERGING MARKETS-Latam currencies firm on China GDP, Fed comment
Reuters
The China news also bolstered the outlook for commodities. Latin American countries are among China’s biggest suppliers of soybeans, copper, oil, coffee, iron ore and other foodstuffs and industrial raw materials. Copper CMCU3 rose 0.8 percent to
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Brazil Rate Futures Rise First Time in Four Days on China Economic Growth
Bloomberg
By Ye Xie and Josue Leonel – Wed Jul 13 14:15:13 GMT 2011 Yields on Brazil’s interest-rate futures rose for the first time in four days on speculation stronger-than-expected economic growth in China will stimulate the Latin American country’s economy
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US open: China growth boosts stocks
ShareCast
LONDON (SHARECAST) – Stocks rose in early dealings as investors looked beyond the continuing woes in Europe to focus on strong economic growth in China. China’s gross domestic product expanded at a faster than expected rate of 9.5% in the quarter to
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10 US Stocks With Big Exposure to China
TheStreet.com
By Robert Holmes 07/13/11 – 01:03 PM EDT BOSTON (TheStreet) — Investors looking to tap into China’s rapid economic growth are smart to buy US companies in the S&P 500 like Qualcomm(QCOM) and Yum! Brands(YUM), which derive a large chunk of their
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Worse Than China and Brazil: How US Income Disparity Leads to Civil Unrest
Business Insider
One of the most noteworthy comments Brzezinski makes is that the US – formerly the “land of opportunity” – is now a land of drastic social inequality, and, in his opinion, the worst offender in the world… worse than both China and Brazil.
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China Lion to bring Fox International’s ‘Love in Space’ to US theaters
Los Angeles Times
But now Fox International and China Lion will try to see if there is an American audience for one such local-language production, scheduling a Sept. 9 US release for the Chinese romantic comedy “Love in Space.” Since October, China Lion has released
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The Next Big Threat to USChina Ties
The Diplomat
By Ting Xu The United States is so far lacking a strategy for managing future Chinese investment. With Beijing pushing for more access to its high tech sector, it needs one. The United States and China have long lobbed verbal grenades across the
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NYMEX-Crude eases ahead of US EIA oil inventory data
Reuters
[ID:nL3E7ID0GH] * US stock index futures rebounded after three days of losses, supported by the stronger-than-expected growth in China. But investors closely watched developments in Europe’s debt crisis. [.N] * Copper gained, supported by the China
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China pledges support for Pak in wake of US military aid cut
DailyIndia.com
Beijing, July 13(ANI): China has pledged its support for Pakistan following the United States‘ decision to suspended 800 million dollars in military assistance to Islamabad. “Pakistan is an important country in South Asia. The stability and development
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On China, by Henry Kissinger
Christian Science Monitor
But the story of Nixon’s opening to China, the meetings with Mao Zedong, and the ensuing ups and downs in USChina relations are now familiar to those who have followed the relationship. One is left wondering if the book could not have been made
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Fidelity’s Bolton flags China governance challenge
Reuters
Bolton believes Chinese policymakers will successfully steer the Chinese economy to lower growth, even as Federal Reserve Chairman Ben Bernanke tries to convince a stubborn Congress to raise the US debt ceiling, where China invests much of its $3
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Software maker iSoftStone aims to straddle USChina divide
The Republic
We are a US-listed company. We comply 100 percent with the US SEC.” The investigation comes amid increased scrutiny of Chinese accounting practices by the SEC, which has revoked the registrations of eight China-based companies since December,
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China Yuan Up Late On 2nd-Quarter Economic Data, Lower Fixing
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan rose against the US dollar late Wednesday because of data showing the country’s economy grew faster than expected in the second quarter and as the central bank guided the local currency higher via a lower central
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Teams in Asia step up race for America’s Cup
Taipei Times
Asia made its first foray into the America’s Cup in 1992, when then regional powerhouse Japan made a convincing debut in an event dominated for decades by the US. Now China and South Korea are taking the helm as the region’s challengers for the 34th
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Even in Tough Year, US Wind Industry Gains Strength
SustainableBusiness.com
Despite a trying year in which wind power capacity additions declined significantly compared to both 2008 and 2009, the US remained one of the fastest-growing wind power markets in the world in 2010 – second only to China – according to a report
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Dagong is likely to downgrade US rating
China Daily
By Wei Tian (China Daily) BEIJING – The US‘ sovereign credit rating is likely to be downgraded regardless of whether the US Congress reaches an agreement on raising its statutory debt limit, Chinese rating agency, Dagong Global Rating Co Ltd,
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SE Asia walks tightrope amid sea spats with China
The Associated Press
It’s unclear what sparked the uptick in confrontations, but one factor may be China pushing back against what it sees as US interference in the disputes, as the two powers become rivals in the Pacific. The South China Sea is a vital shipping lane that
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Respect for core interests key to Sino-US ties: Lawmaker
China Daily
WASHINGTON – The key to maintaining a stable ChinaUS relationship lies in a mutual respect for each other’s core interests, a senior Chinese lawmaker said. Lu Yongxiang, visiting vice chairman of the Standing Committee of the Chinese National People’s
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Divers lead charge to propel China to top of medal table at world aquatic
Washington Post
With the worlds in China for the first time, Chinese swimmers are expected to fare much better. The United States and China each won 29 medals overall in Rome, including 11 golds. “We have conducted very systematic practices and exercises and the whole
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US trade gap surges to nearly 3-year high on oil
Reuters
The politically sensitive trade gap with China jumped more than 15 percent to $25 billion. US companies imported $32.8 billion of goods and services from the Asian powerhouse during May, but exported just $7.8 billion worth to that country.
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US Net Exports to China set record 12-month low in May
Ideal Taxes Association
President Obama, Congress and the Federal Reserve have had a hard time stimulating the American economy, but they have done a great job of stimulating the Chinese economy. Meanwhile, US overall net exports with the world also took a hit in May,
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China Direct Industries to Present at the 2011 Global Hunter Securities Conference
PR Newswire (press release)
China Direct Industries, Inc. (NASDAQ: CDII), is a US based holding company with operations in China and the Americas, focusing on pure magnesium production, distribution of basic materials and metal ores, and cross border corporate advisory services.
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China Cities Sell Land at Winnetka Values With $1 Trillion Debt Seen Toxic
Bloomberg
In China, as in the US before the collapse of the subprime mortgage market in 2007, local debt is backed by collateral that is overvalued, may be hard to sell and, in some cases, doesn’t exist. Officials in Loudi, whose colonnaded government building
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NJ defense contractor admits having US weapons parts made in China
Cliffviewpilot.com
Rather than manufacture the parts under its obligations, Swiss Tech exported DoD drawings, specifications, and sample parts to the People’s Republic of China without obtaining a license from the US State Department, federal authorities said.
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China’s Biggest Export To America Is Unemployment
Business Insider
The US Treasury hasn’t commented publicly on China’s capital controls, but Treasury Secretary Tim Geithner noted at the USChina Strategic and Economic Dialogue this spring that the renminbi had appreciated five percent against the dollar since last
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Brazilian stocks rise after Fed, China updates
MarketWatch
By Carla Mozee, MarketWatch LOS ANGELES (MarketWatch) — Mexican and Brazilian stocks rose Wednesday, riding higher alongside Wall Street on the prospect that US monetary policy makers will enact more measures aimed at stimulating activity in the
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A US Default Is Inevitable: Fund Manager
CNBC.com
In his book “Breaking the Code of History,” Murrin argues that the balance of power has shifted away from the West, with America as the superpower, towards the East, led by China. He believes the US cannot afford to compete with the rise of Eastern
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Brown Urges Currency Bill to Close Gap
Youngstown Business Journal
WASHINGTON — US Sherrod Brown is renewing his call for passage of the Currency Reform for Fair Trade Act of 2011, following the release of new numbers showing a widening trade gap with China. The US trade deficit increased to its highest level in more
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Why Is America’s Military Buying China’s Bargain-Bin Microchips?
theTrumpet.com
You may have heard the story: Last year, the US military bought 59000 counterfeit microchips from China for use aboard American warships, fighter planes, missile and antimissile systems. Thankfully, these fake chips were caught.
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Aussie, Kiwi Climb as China’s Economic Growth Exceeds Forecasts
BusinessWeek
Australia’s dollar strengthened 1.6 percent against the US dollar to $1.0766, from $1.0598 yesterday. The Aussie gained 1.3 percent to 85.03 yen, from 83.98 yen. China’s gross domestic product expanded 9.5 percent in the second quarter from a year
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G2 and Koreas
Korea Times
The competition between the United States and China over global hegemony seems to be shifting from economic to military areas. And one of their hottest arenas is East Asia. A recent case in point was the meeting between the leaders of the Chinese and
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BASE METALS: Copper Edges Higher On Steady China Growth
Wall Street Journal
US has lagged, dragging on the world’s largest economy, and concerns continue to mount that a euro-zone member may default and rattle world markets. Benchmark copper futures on the Shanghai Futures Exchange rose 1.4% Wednesday, buoyed by the China
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U.S. Stocks Stay Up,But Off Highs; Volume Tracking Lower
Investor’s Business Daily
By VICTOR REKLAITIS, INVESTOR’S BUSINESS DAILY Posted 01:36 PM ET The major indexes remained firmly in the black but off their session peaks in early afternoon action Wednesday, still getting a lift from stimulus hopes and China’s GDP report.
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