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U.S. China News 2011.07.28

Thu, July 28, 2011

US says cooperating with China to repatriate graft fugitives
Reuters
By Sui-Lee Wee BEIJING, July 28 (Reuters) – The United States is cooperating with China to repatriate Chinese fugitives facing corruption charges, a senior US official said on Thursday, a move that could pave the way for the return of hundreds of
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Asian Stocks Slide Amid US Debt Impasse, China Loan Clampdown
Bloomberg
China Construction Bank Corp. led Chinese lenders lower after the government prohibited banks from renewing loans to local financing vehicles. BHP Billiton Ltd. (BHP), the world’s largest mining company by market value, retreated 2.3 percent in Sydney
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China’s Stocks Decline as US Debt Impasse Fuels Economic Growth Concerns
Bloomberg
By Bloomberg News – Thu Jul 28 07:53:04 GMT 2011 China’s stocks fell for the first time in three days as a drop in American durable-goods orders and a stalemate over the US debt limit boosted concerns global economic growth will falter.
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Hong Kong, China shares down as US concerns depress turnover
Reuters
By Clement Tan HONG KONG, July 28 (Reuters) – Hong Kong and China shares were broadly lower at midday on Thursday, as investors stayed away after unfavourable US earnings and economic data compounded lingering concerns over Washington’s inability to
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US Senate Confirms Gary Locke As Envoy To China
RTT News
Following his nomination, Locke told the Senate Foreign Relations Committee in May that his selection showed the growing importance accorded to ChinaUS ties. Also, the Ambassador-designate said he would strive toward further bolstering relations
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Jabin T Jacob: When the US is in the room, China is the elephant, not India
Daily News & Analysis
The timing meanwhile, seems inspired by the fact that China has been on the diplomatic back-foot given its military aggressiveness in the South China Sea, over the last year. Similarly, the decisions to expand Indo-US strategic talks to cover Central
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China’s Xinhua to US leaders: Show some “sense of global responsibility”
Hot Air
That advice, courtesy of China’s state-run news agency, Xinhua, which today published a frank criticism of the debt-and-deficit-reduction wrangling among the president and congressional leaders. The Wall Street Journal reports: A US default could cause
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Rabobank Report: China’s Increasing Investments in South American Agribusiness
Sacramento Bee
Brazil in particular provides an enormous potential market for Chinese exports, and has historically been a key partner for China in the energy, manufacturing, and other sectors. China is aiming to secure the supply of agricultural products,
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ChinaUS ties still need some bandages
China Daily
The US has three major interests in the South China Sea: freedom of navigation, economic gains and security commitments to its regional allies such as Japan and South Korea. As the two countries continue to communicate, including the first ChinaUS
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China urges US to ‘do the right thing’
China Daily
US arms sales to Taiwan have long cast a shadow over mainland-Taiwan ties and ChinaUS relations. Beijing broke off military ties last January after the US sold more than $6 billion worth of arms to Taiwan. In June, China rejected a proposal for a
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China vs. U.S.: The cyber Cold War is raging
CNNMoney
It isn’t publicly known what happened to that traffic when it passed through China. But a report filed late last year by Congress’ USChina Economic and Security Review Commission said the hijacked traffic could easily have been captured, censored,
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Boston Scientific To Invest US $150 Million In China Over Five Years
Asian Scientist Magazine
29, 2011) – Boston Scientific Corporation’s Board of Directors has approved a five-year, US $150 million investment in China to expand its commercial presence in one of the world’s largest and fastest-growing medical device markets.
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Hong Kong’s June Export Growth Slows on U.S., Europe Woes
Bloomberg
Slowing growth in China and the US, and the threat of a widening sovereign debt crisis in Europe, is crimpling growth in exports. The rebound in trade with Japan after disruption caused by March’s earthquake and nuclear crisis will fade, the government
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MU’s Denmon, English hope to represent USA in China
Kansas City Star
By Mike DeArmond – Posted on 27 July 2011 Missouri seniors Marcus Denmon and Kim English are heading to Colorado Springs, Co., for the start – on Friday – of Team USA basketball team trials for the World University Games in China.
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China helps US automakers on the road to recovery
China Daily
By Li Fangfang (China Daily) BEIJING – China’s booming automobile market over the past two years has not only led it to overtake the United States as the world’s biggest, it has also enabled US car makers to weather stagnant domestic sales caused by
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China’s military flexes its muscle
USA Today
However, the American Enterprise Institute, a think tank focusing on the military, has said the US military is underfunded and cannot counter China’s threat to US allies in East Asia with declining defense spending, as some in Congress are seeking as
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The Coca-Cola Foundation Awards Grant for Study Abroad Scholarships to China
University of Texas at Austin News
The generous support of the Coca-Cola Foundation allows us to improve access to study abroad opportunities in China while also increasing the likelihood that we can retain and graduate these students.” In 2010, 148 students studied in China on
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Ryan Lochte beats Michael Phelps again, sets world record
Los Angeles Times
Lochte edged Phelps to win the 200-meter individual medley at the world championships in Shanghai, China, on Thursday with a time of 1 minute, 54.00 seconds, beating his old world record of 1:54.10 from two years ago when polyurethane suits still were
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Carmelos wild China trip selling shoes and giving us panda pictures
San Antonio Express (blog)
(Photo courtesy of Carmelo Anthony’s Twitter page) Carmelo Anthony is visiting China during his basketball break during the lockout. The New York Knicks forward provided us with the obligatory bad pun that described his reaction to the trip on this
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Chinese Officials ‘Appalled’ by US Impasse: Roach
Bloomberg
In another sign of concern within the nation that is the biggest foreign owner of Treasuries, the official China Securities Journal said today that the US stand-off signals long-term dollar weakness that will push up commodity prices and pose inflation
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US in ‘denial’ over China’s Pacific strategy
Asia Times Online
That affront to Chinese sovereignty is seen as a turning point in post-Cold War USChina relations and in the formation of the East Asian regional order. The access denial theory envisions the PLA acting quickly in similar scenario to neutralize US
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China Update: US Takes Top Honor at World Travel Fair
Travel Agent
The United States won first place—the Gold Award—in the “My Dream Destination” competition at the World Travel Fair in Shanghai. The NTA, who has broken new ground in developing the China market, also reports solid gains in travel to the US from
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US reconnaissance missions against China undermine mutual trust: official
Associated Press of Pakistan
Commenting on a plan voted recently at the US House Foreign Affairs Committee that urged US arms sale to Taiwan, Geng said China categorically opposed US arm sales to Taiwan for it would severely harm China’s core interests.
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How a Debt Default Might Be Viewed in China
Huffington Post
But consider that whether or not Washington pulls this off, the debacle itself has made an impression on our creditors overseas — especially China. How might this affect US relations with Beijing? First, a quick review of the economics.
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Weaker U.S., EU Growth Are Risks to ADB’S China Growth Forecast
San Francisco Chronicle
July 28 (Bloomberg) — Weaker-than-expected growth in developed economies such as the US and European Union and China’s monetary tightening to contain inflation may present downward risks to the Asian Development Bank’s forecast for Chinese economic
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China Monitors WiFi, US Takes Notes?
Techdirt (blog)
In a move that perhaps surprises no one, China is now requiring all providers of free WiFi to install expensive monitoring software that tracks their users, or face heavy fines. According to the officials in the Dongcheng Public Security Bureau,
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Container-Ship Plunge Signals US Slowdown: Freight Markets
Bloomberg
“The US economy isn’t recovering fast enough to help increase demand.” China Shipping Container Lines Co., the nation’s second- biggest cargo-box carrier, fell 6.9 percent, the biggest drop in almost two years, to close at HK$2.17 in Hong Kong.
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Sinopec to build US$91m lubricant plant in Singapore
Channel News Asia
By Stella Lee | Posted: 28 July 2011 2235 hrs SINGAPORE: Sinopec Lubricants, a subsidiary of the world’s second largest oil refiner, will build a US$91m lubricant plant in Singapore. The facility at Tuas will be China Petroleum and Chemical
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The Freight Train That Is Chinese Oil Demand
Business Insider
…The US might have played an instrumental role in causing many of the issues at hand, but the S&P 500 revenues are now 50% abroad and trust me – the domestic 50% weren’t the ones driving the Dow recovery from 2003-2007. China led us into this
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China protests U.S. spy flights near its coast
Reuters
“We demand that the US respect China’s sovereignty and security interests and take concrete measures to boost a healthy and stable development of military relations,” the Global Times newspaper quoted the Ministry of National Defense as saying.
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Jobs Top Priority for Likely 2012 Voters, Group’s Survey Finds
Bloomberg
Sixty-two percent of participants in the study said the US isn’t the world’s strongest economy, up from 58 percent in the group’s report last year. Among those who didn’t think the US had the world’s strongest economy, 39 percent said China is the top
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Manufacturing a US decline
UI The Daily Iowan
Numerous nonprofits and think tanks have advocated the need to implement changes to the current USChina trade imbalance. From the Alliance for American Manufacturers to the Center for American Progress, it’s well understood China doesn’t play by the
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Alcoa Employees Join Expedition to Brazil and China as Earthwatch Fellows
MarketWatch (press release)
NEW YORK, Jul 28, 2011 (BUSINESS WIRE) — Alcoa Foundation announced today that it will sponsor 25 employees from the Company’s operations in Australia, Brazil, Canada, China, Hungary, Iceland, Norway, Russia, Spain, Suriname and the United States on
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The Quest For Kosher Among China’s Other Billion
NPR
“There are a billion people in China’s interior who are still living on a few dollars a day. That’s Guizhou province, the poorest province in China,” he says. Levy reveals that the average income in the community where he volunteered was 100 US dollars
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Bitcoin Exchange Founder Denied US Entrance
PC Magazine
By Sara Yin Along with “bomb” and “fresh fruit,” add “bitcoin” to the list of things you should never say at US Customs. “Nefario,” codename for China-based founder of the Global Bitcoin Stock Exchange, says he was sent back to China after he arrived
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NIH Spends Millions to Study AIDS in China, Chinese Prostitutes
The New American
This time, TVC reveals that US taxpayers pumped $90 million into “research” that included investigating AIDS in China, Chinese prostitutes, and a treatable parasite that infects one in every 1000 Chinese. A week ago, TVC exposed grantees who used NIH
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Chinese Hackers Score Heist of 35 Million South Koreans’ Personal Info
DailyTech
Meanwhile in mid-May in the US top defense contractor Lockheed Martin Corp. (LMT) was the victim of a sophisticated cyberintrusion, which was believed to have originated in China. The US government now says that cyberattacks can be construed as an act
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North Korea meetings with US reflect a cautious conflict avoidance
The Guardian
In some ways, the North-South standoff resembles a much larger potential confrontation, between the US and China, which flickers episodically across the region from Vietnam to the Philippines and the East China Sea. Just how fragile the security
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Romney vows tough stance on China trade
Reuters
“They steal our technology, manipulate their currency, and put up barriers that prevent us from competing,” Lanhee Chen wrote. Chen wrote that would not be tolerated if Romney became president. “He will get tough with China.” (Reporting by JoAnne Allen
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What makes China telecom so scary?
Fortune
This concern is deepened by American anxieties caused by the Great Recession and the accompanying mood of US declinism. For politicians, hitting out at an increasingly assertive China taking on new prominence in the world — and at Huawei as its proxy
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Jobs Czar Moves US Jobs to China
Examiner.com
The X-Ray division has been located in the US its entire 115 year history. With China representing an ever-growing segment of GE’s customer base however, company executives felt they could improve sales to the giant nation if their headquarters was
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US wins 4×200 freestyle relay at worlds
Sacramento Bee
China, which won gold at the last world championships in 2009 in a world record time of 7:42.08, finished third Thursday in 7:47.66. Chen Qian led the home team followed by Pang Jiaying, Liu Jing and Tang Yi. Reader comments on Sacbee.com are the
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CFR.org Roundup: Investor Fears Rise over US Debt Crisis
CNN (blog)
China called its plans to renovate a Soviet-era aircraft carrier as vital to its maritime security, heightening regional tensions (Reuters) in the South China Sea. The country has invested heavily in defense, even as the US – the leading military power
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Growing Asian Wealth Provides US Export Markets
GlobalAtlanta
Mr. Higgins denied that the rise of Asia would mean economic decline in Europe and the US Several factors might slow growth in China and India, including their large populations and the need for better regulatory and accounting structures.
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