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U.S. China News 2011.07.26

Wed, July 27, 2011

The Future of the USChina Relationship
The Atlantic
Speaking to the American Chamber of Commerce, she defended a rules-based system of regional economic competition based on openness, freedom, transparency, and fairness. Without mentioning China by name, as the New York Times reports, she cited a litany
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US to continue spy flights after jets ‘pursued’ by China over Taiwan
Telegraph.co.uk
The relationship between China and the US should be based on “candid and forthright” talks rather than suspicion, he added. He said that the time had come in the US to end reflexive suspicion of China, but admonished Beijing for cutting off ties
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Military exchanges to foster USChina trust: Mullen
AFP
The top US military officer said that the relationship between China and the United States should be based on “candid and forthright” talks rather than suspicion, and that there are various “crucial areas where our interests coincide.
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US holds off China in U19 Worlds
Boston Globe
PUERTO MONTT, Chile—Kaleena Mosqueda-Lewis scored 19 points and Bria Hartley added 18 to help the United States hold off China, 80-77, in the second round of the U-19 World Championship on Monday night. Stefanie Dolson added 12 points and eight rounds
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US imperialism and the South China Sea crisis
World Socialist Web Site
The region is a tinder box, with innumerable possibilities for an accident or misunderstanding—or even a provocation—to trigger a clash that could escalate into a full-blown war between the US and China. The international working class has to
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China the Likely Winner In US Debt Impasse
World Politics Review
By Guy Taylor | 26 Jul 2011 With the Obama administration and Republican congressional leaders locked in an impasse over the US debt ceiling, US diplomats are trying to convince China there is nothing serious to worry about: The debt ceiling will soon
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China Concerned Over US Hosting Dalai Lama, Taiwan Arms Sales
RTT News
(RTTNews) – China has expressed displeasure over Washington hosting the Dalai Lama, and US selling of air defense missiles to Taiwan. This was disclosed by senior US State Department officials, who briefed on the meeting between Secretary of State
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Iran, China Looking At Payment System To Circumvent US Sanctions
MEMRI (blog)
Iran and China are considering a new payment system, perhaps payment in kind, to circumvent US sanctions on Iran. It was reported that China owes Iran at least $30 billion for the crude it has imported and has not paid for.
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CLP to invest in US$11bn China nuclear power scheme
Industrial Fuels and Power
The company will hold a 17% stake in the Yangjiang nuclear power project under and agreement with state-owned China Guangdong Nuclear Power Co Ltd. About 220km from Hong Kong, the 6000MW Yangjiang nuclear power station will supply power to meet local
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China’s Sinohydro plans US$2.5bn+ Shanghai IPO
Industrial Fuels and Power
China-based Sinohydro Group, the builder of the Three Gorges dam, plans to raise more than US$2.5bn in what is slated as mainland China’s biggest initial public offering this year. The company intends to issue up to 3.5bn new shares, or nearly 35% of
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China scholar: Debt debate shows dark side of U.S.
MarketWatch
Members of the US Congress are “holding the entire nation hostage to their private political interests,” Mei Xinyu, a researcher at China’s Ministry of Commerce, was quoted as saying in a commentary piece in the overseas edition of the People’s Daily,
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Huntsman urges focus on ‘America helping America’
Boston Globe
The former US ambassador to China told an audience at Dartmouth College: “If we don’t have a core of strength and economic might, we’re of no help to the rest of the world.” Huntsman spoke at Dartmouth as part of a “Leading Voices in Politics and
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US will remain a Pacific Power: Mullen
The Hindu
The United States will remain a pacific power, the top US military chief has said in a remark aimed at sending a clear message to China, which is showing opposition to the American dominance in the region. “We are and will remain a Pacific power,”
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Clinton’s India visit reached no consensus on fighting terrorism
China Daily
Clinton’s speech in Africa, and now in Asia clearly hints at the US concern about its receding influence in the Asia-Pacific region. Time and again, she has been successful in instigating the media to chant the “China threat theory.
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Officials close 2 of 5 fake Apple stores
China Daily
under the Law Against Competition by Inappropriate Means. China has four authorized Apple stores in Beijing and Shanghai, although the US electronics company has labeled China a “key market”. In contrast, it has 236 stores in the United States.
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U.S.-Listed Chinese Stocks Retreat on Railroad Crash, U.S. Debt
San Francisco Chronicle
July 26 (Bloomberg) — Chinese stocks listed in the US fell, sending a benchmark index lower for the first time in five sessions, following a fatal train wreck in eastern China and as President Barack Obama and congressional leaders failed to reach an
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We’ll continue to prosper from China’s growth
The Australian
“IF the US sneezes, Australia will catch a cold” was an observation during much of the 20th century. These days, things are different. We’re in China’s economic orbit; China and the US both influence the Australian dollar (China through its effects on
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Apple pips Google, Facebook to become No 1 international brand in China
Economic Times
1 in China,” said John Quelch, former senior associate dean of Harvard Business School and now head of theChina Europe International Business School in Shanghai. “Scarcity sells, and this is the same strategy Apple has used in the US” Apple’s push into
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Police release first list of fatalities from China train crash, two foreigners
Xinhua
The US Embassy in China confirmed on Tuesday that Cao was one of the two American citizens who had died in the accident. Of the 26 others, 17 were from Zhejiang, six from Fujian, one from Anhui, one from Henan and one from Tianjin, according to the
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Infographic: 8 Ways Why China is Beating the US in Green Technology
EconomyWatch.com
their advanced counterparts to be the largest investors of clean energy projects in the world. The report had also listed China to have been the world’s largest investor in renewable energy resources – investing nearly US$48.9 billion in 2010.
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USChina Anticorruption Working Group Meetings and Anti-Bribery Roundtable
US Department of State (press release)
It is a pleasure to be here today co-chairing and opening the 6 th meeting of the ChinaUS Anticorruption Working Group of the Joint Liaison Group (JLG ACWG). I would like to applaud my Chinese co-Chair Director General KONG Xiangren, Foreign Affairs
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FDI to Singapore hits US$39b in 2010: UNCTAD report
Channel News Asia
The top three host economies for FDI inflows in 2010 were the United States (US$228 billion), China (US$106 billion) and Hong Kong (US$69 billion). UNCTAD data also showed that for the first time, developing and transitional economies together
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United Continental sees clear skies over China
China Daily
By Lu Haoting (China Daily) BEIJING – Air travel demand between China and the United States will remain strong despite worries about economic weakness in both countries, said a top executive from the world’s largest airline.
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UPS Profit Jumps 26% on Strong Growth in China, Europe
Wall Street Journal
The Atlanta-based global shipping company reported a 26% increase in second-quarter profit, buoyed by growth in China and Europe, but warned that US gridlock over the federal debt ceiling, as well as a number of free-trade pacts, continue to weigh on
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Nissan announces $8 billion (US) China expansion
Toronto Star
AP BEIJING, CHINA — Nissan announced an $8 billion (US) expansion plan for China on Tuesday as part of a global strategy to focus on faster-growing emerging markets and reduce reliance on the United States. Nissan’s plan with its local partner,
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RPT-More US lawsuits target Chinese reverse mergers
Reuters
The United States has no extradition treaty with China and state secrets laws make it difficult to gather evidence about alleged wrongdoing that originates there. [ID:nN1E76905A] That limits the effectiveness of the 2002 Sarbanes-Oxley reforms
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Paramount Pictures’ Transformers: Dark of the Moon Posts IMAX Launch Record in
MarketWatch (press release)
“We’re extremely pleased with such record results for an IMAX DMR film in China,” said IMAX CEO Richard L. Gelfond. “Chinese audiences are clearly seeking out The IMAX Experience(R) through US blockbusters and numbers like these illustrate why China
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US listing on DP World radar even as shares fall
gulfnews.com
By Kevin Scott, Staff Reporter Dubai: DP World has not ruled out a US listing and continues to monitor the American equity markets very closely, the company’s chief executive said Tuesday. The Dubai-based ports operator, which reported throughput
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US debt impasse worries the world
China Daily
By Martin Khor (China Daily) The political deadlock in Washington on whether and how to increase the United States‘ debt limit is causing anxiety over a possible default and a new global economic downturn. The deepening of the eurozone’s debt crisis
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Dana Vollmer rallies for 1st U.S. swimming gold
San Francisco Chronicle
China’s Lu Ying earned bronze in 57.06 The world record is held by Monday’s fourth-place finisher, Sarah Sjoestroem of Sweden. It was one of 43 world marks set at Rome in 2009 before high-tech body suits were banned at the start of 2010.
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Zynga partners Tencent to debut first mainland China game
Reuters
It leads China’s online games market with hits such as “Dungeon & Fighter” and “Three Kingdoms.” It currently has a partnership with Take-Two Interactive to help bring the US company’s basketball video games to China. Zynga said the game would be on
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US debt a problem for us all: expert
Merredin Wheatbelt Mercury
Dr Geoff Robinson, a lecturer from the Geelong Campus who specialises in Australian and US politics, said financial stability in the United States was crucial to local prosperity. “The United States, not forgetting India and China, is still one of our
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US Stock Futures: HOT STOCKS TO WATCH
Wall Street Journal
Baidu’s second-quarter earnings jumped 95% as China’s Internet-search leader continued its rapid customer growth and revenue improvement, including strong spending by its larger advertising customers. The company’s American depositary shares were up
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/C O R R E C T I O N — Giant Interactive Group Inc./
MarketWatch (press release)
The conference call may be accessed by calling +1 800 299 7089 (for callers in the US), +86 10 800 130 0399 (for Telecom callers in Southern China), +86 10 800 852 1490 (for Netcom callers in Southern China), +86 10 800 152 1490 (for Telecom callers in
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US Image in China Already Tarnished by Debt Fight
CNBC.com
In the eyes of China, the biggest foreign holder of US Treasuries, the damage to America’s reputation as steward of the world’s safest asset may already be done—even if a last-minute agreement to raise the debt ceiling is hatched.
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China’s Gold Investors Pause for Profit-Taking
Benzinga
Even if the US debt ceiling issue is quickly resolved or the Eurozone’s various crises disappear, global inflation will continue to rise. China is destined to become the world’s number one consumer of gold and this recent buyer’s reticence is merely a
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China Slowdown: US Companies That Stand to Lose
NASDAQ
Of course, a slowdown in China is much more like slowing from a run to jog than slowing to the snail’s pace that the US is experiencing. The Chinese economy is expected to expand by over 9% this year (via The New York Times).
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