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U.S. China News 2011.07.18

Tue, July 19, 2011

CORRECT: TIC: China Net Buyer Of US Tsy Securities In May
Wall Street Journal
(“TIC: China Net Buyer Of US Tsy Securities In May,” published at 9:02 am EDT, incorrectly stated net foreign holdings of long-term US financial assets. The correct version follows.) By Ian Talley and Michael R. Crittenden Of DOW JONES NEWSWIRES
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China hits US for Dalai Lama meeting
Boston Globe
AP / July 18, 2011 BEIJING – China yesterday slammed President Obama’s meeting with the Dalai Lama as an act that has “grossly interfered in China’s internal affairs” and damaged Chinese-American relations. The statement from China’s Foreign Ministry
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Copper May Drop as U.S. Debt, China Price Concerns Dim Outlook
By Bloomberg News – Mon Jul 18 07:56:56 GMT 2011 Copper may decline after US President Barack Obama said the government is “running out of time” to cut the fiscal deficit and on speculation China may take more steps to curb property prices after home
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China edges out US as BC’s top lumber market
A burst housing bubble in China is a risk for the world in general and particularly for BC foresters, who have come to depend significantly on China as the US remains extremely weak. BC’s last great overseas market, Japan, eventually withered as an
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Swimmers will miss social media at worlds in China
San Francisco Chronicle
Andrew Dampf, AP Steve Holland / AP Michael Phelps, talking to the media in Australia, will have to get creative to keep his Twitter feed updated while in China. Michael Phelps recently tweeted his mother from the American team’s training camp in
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Coke Foundation helps US strengthen ties with China
The initiative, which supports President Barack Obama’s vision to see 100000 American students study abroad in China, is designed to enhance and strengthen ties between the citizens of the US and China in the areas of education, culture, sports,
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FINA World Championships, Water Polo: US Ties The Netherlands; China, Hungary
SHANGHAI, China, July 17. WOMEN’s water polo action kicked off in a strong way with eight matches on the docket for the first day at the 2011 FINA World Championships held in Shanghai. The two-time defending world champions from the US finished in a
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Is now the time to China-proof your portfolio?
Reuters Blogs (blog)
But if the US defaults on its debt, China will acutely feel the pain, since it’s banked more than $1 trillion in US Treasuries. That’s why you need to ask yourself: Is now the time to “China-proof” your portfolio? While a holding of more than 25
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DHL Enhances LCL Service Offerings from China to U.S.
Business Wire (press release)
The new direct weekly LCL service, operated by Danmar Lines, will cover freight moving from Mainland China to Seattle and Portland on the West Coast in the US and can reduce the overall transit time between China and the US by four days.
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South China Sea Dispute High Priority for ASEAN
Voice of America
July 18, 2011 South China Sea Dispute High Priority for ASEAN Jakarta “One united stand of ASEAN is that all of us have a common desire to see the region, including the South China Sea, being managed peacefully.” ASEAN Secretary General Surin Pitsuwan
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America on Phl’s side
Philippine Star
It should be a consolation to Filipinos that the United States Senate’s approval of a resolution deploring the use of force by China in the South China Sea, has been affirmed with the US. House of Representatives’ introduction last Friday of a
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China coach plays down team’s chances at Shanghai
USA Today
“Of course we’re improving, but we’re still quite far behind the US and Australia,” Yao told The Associated Press on Monday. “We won just one gold at the 2008 Olympics so we just want to work harder and get better.” China has spent the past decade
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Is This Stock the Best Play on China?
Motley Fool
Brands (NYSE: YUM ) the best China play that isn’t Chinese. With its astounding second-quarter results in China announced last week, I’m sticking to my guns. Sure, results in the sclerotic US were awful, but Yum!’s ex-US results more than made up for
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Chopsticks Carry ‘Made in America’ Label
Voice of America
Most chopsticks are made in China, where several hundred manufacturers turn out 63 billion pairs annually. But they are running short of wood. Natural resources Wood is something the US town of Americus – where Georgia Chopsticks is located – has
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How not to breach China’s great wall of arrogance
World Tribune
Outgoing Joint Chiefs Chairman Admiral Mike Mullen’s bumbling replies to questions by “automated” university students during a mid-July Beijing visit were symptomatic of total disarray in US China policy. US Adm. Mike Mullen, chairman of the Joint
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Opening to The East
American Enterprise Institute
Moreover, it’s clear in retrospect that China’s eagerness for American backing was driven by a desire to squash Vietnam’s ambitions in Southeast Asia and relieve the danger of a Soviet attack. It was under the watch of national-security adviser
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Donut wars give Shanghai a sugar jolt
Washington Post
There are now 40 in China, with 18 here in Shanghai, according to Frederick Sze, Dunkin’s managing director for greater China. “We are number one in the US, and we want to be number one in China also,” Sze said. Krispy Kreme, Dunkin’s main US rival,
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Ford CEO sees good outlook for US, hot prospects abroad
USA Today
A lot of people worry, with India and China growing the way they are, what does the US manufacture? Do you have any ideas in terms of creating new jobs in this country, not just for the auto sector, but throughout manufacturing?
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What YUM! Brands’ Call Could Tell Us About McDonald’s Friday Earnings
Seeking Alpha
Their call affirmed what was already widely expected; Yum’s American sales growth figures are dismal, but China and Yum International are doing so well that it doesn’t even matter. The decline in American sales presents a few different alternatives as
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China Sunergy opens US headquarters in San Francisco (press release)
(Source: Datamonitor)China Sunergy Co., Ltd., a solar cell and module manufacturer, has opened its US headquarters China Sunergy US Clean Tech Inc. in San Francisco. “The US will eventually become one of the largest solar markets in the world,”
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China Cache CEO: Reduce Cost through Expanding Main Network
Business Insider
We have seen so far that no matter in US or China, this industry has a huge demand. Internet applications require the support from businesses like IDC and CND in the future. Question: At present, many websites with huge demand of traffic (Such as
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Soho China trashes talk of US investment
Hong Kong: Soho China Ltd rejected as “untrue” a report that it is considering investing in a New York office tower. The company’s controlling shareholder is looking at a possible overseas property investment that would be financed using private
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China Natural Gas Announces Completion Ceremony for Successful Trial Operation
MarketWatch (press release)
Except as required by applicable law, including the US federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results. For more information, please contact: China Natural Gas, Inc. Bode Xu,
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Gold tops $1600 US on debt fears
As well, citizens in a growing number of countries, China for example, are boosting their gold purchases. “The prospects for gold demand in China, the world’s second largest gold consuming market,…could double in the next 10 years,” the World said
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Analysis: China’s big banks cushioned from local govt debt
Baltimore Sun
Having been warned by Beijing in 2009 to beef up their risk management systems, these lenders boast more cash than many of their European and US peers did before the global financial crisis. That cash pile may see its first major test since the
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Americans fail to get kicks in shoot-out, fall short in thriller
Detroit Free Press
MARTIN MEISSNER/Associated Press The US dominated the tournament in China, winning the first trophy with a 2-1 victory over Norway. Brandi Chastain scored the winning shoot-out goal, then celebrated by taking off her jersey, as the host Americans beat
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Another take on Libya hubris for China
Asia Times Online
The second was China; the United States quixotically not only refused to recognize the communist conquest of the mainland for 50 years; it also countenanced Chiang Kai-shek’s pretensions to rule all of China, even as he exercised sway over only the
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COSTIN Completes the Issue of US$30 Million Convertible Bond to CITIC Capital
PR Newswire (press release)
production and sales of non-woven materials and recycled chemical fibres, is pleased to announce today that it has completed the issue of a US$30 million (approximately HK$233 million) convertible bond to CITIC Capital China Access Fund Limited,
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Were the First Ten Years of the 21st Century Really the Worst In American History?
Fox News
Since then, China above all, but other nations too, have been free to plunder all our innovation at will and steal it from us. (Did you really think cap and trade was the only ruinous stupidity Gore inflicted on this country?
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US Group: Vatican’s Excommunication of Chinese Bishop Based on Church Law
Voice of America (blog)
Joseph Kung is a spokesman for the Cardinal Kung Foundation that advocates the rights of Roman Catholics in China. He told VOA that the Chinese-ordained bishop has no authority to govern the Catholic community without Vatican approval.
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Starbucks Raises Storm in Coffee Cup
This would give a strong foothold to the company in its “second home market” outside the US The management revealed that the joint venture is a step towards the company’s goal of owning farms and roasting coffee in China. The Seattle-based company also
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Pork prices to stay ‘unusually high’ as China buys
Hog prices are set to remain elevated, and retail pork values “unusually high”, thanks to a slide-off in production at a time when demand is being stoked by China, whose own prices have hit record highs. The US Department of Agriculture warned that
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China Shipping Nauticgreen Starts Pre-Marketing Around US$246 Million Hong
HONG KONG -(Dow Jones)- China Shipping Nauticgreen Holdings Co. Ltd. plans to raise around US$246 million in a Hong Kong initial public offering, according to a term sheet seen by Dow Jones Newswires on Monday. The Chinese container lessor,
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Apple Seeks to Broaden iPhone in China
Wall Street Journal
China has the potential to become the second largest and perhaps even the largest market [for the company] over time,” said Shaw Wu, an analyst with Sterne Agee in San Francisco. Apple has historically focused on its home US market, with the Americas
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Data show strong demand for US Treasuries
Financial Times
China remained the largest holder of US Treasuries and increased its stake by $7.3bn to $1159.8bn. Japan raised its holdings by $5.5bn to $912.4bn to remain the second largest foreign owner of US government debt. The purchase of Treasuries via the UK
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Imagining the Future Legal Career of Casey Anthony
Above the Law
For the record, we continue to remain extremely busy in the Asia markets, making already this year 42 US associate or counsel placements at law firms in Hong Kong / China and Singapore, as well as five in-house placements in Hong Kong / China.
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New Oriental Education posts higher Q4 profit
July 18 (Reuters) – China’s New Oriental Education & Technology Group Inc posted higher fourth-quarter profit, driven by higher student enrollment and strong margin. Market leader New Oriental’s operating margin rose to 7.6 percent from to 4.2 percent
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June FDI growth rate slows to 2.8%
But Yao Jian, spokesman for the ministry, said China will remain an attractive destination for global FDI in the mid- and long-term and there is no sign of a sharp drop coming. In June, China absorbed US$12.9 billion in FDI, up 2.83 percent from a year
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Fed Forecast Buoyed as Dudley Expects Dollar-Driven Exports
“The rise of the middle class in large developing markets like China and India” represents a “growth opportunity of staggering proportions.” A surge in global demand for US products hasn’t been lost on Federal Reserve officials, including Chairman Ben
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Arab Spring Pits Saudi Security Concern Against U.S. Support for Uprisings
Saudi Arabia’s independence from US foreign policy “is not just from the Arab Spring, but also from the fact that oil demand has shifted from the US to China more and more each year,” said Sullivan at Georgetown University. Saudi Basic Industries Corp.
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Wanxiang and Ener1 Receive Chinese Government Approval for Joint Venture
MarketWatch (press release)
“Wanxiang has built strong and deep customer relationships throughout China,” said Dr. Lu Guanqiu, founder and chairman of Wanxiang Group. “We are pleased that we have found such a technologically-advanced business partner like Ener1 to help us produce
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World Bank chief slams US leadership on trade deal
The Associated Press
US trade officials responded Monday that the administration has been a chief proponent of an ambitious Doha round, but that the way it was framed early on — putting emerging trade powers like China on a level with some of the world’s poorest countries
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Clenergy International Opens US Branch Office In California
Solar Industry
by SI Staff on Monday 18 July 2011 Clenergy International, a China-based provider of solar PV products, has opened a US branch office called Clenergy America LLC. The office is located in California. “Clenergy’s rapidly increasing business in the US
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