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U.S. China News 2011.08.01

Mon, August 1, 2011

Higher Borrowing Limit in U.S. Shifts the Goalposts in China
Wall Street Journal
By Tom Orlik The deal on the debt ceiling in the US shifts priorities for China’s economic policy makers. Deficit spending seems to be turning into something of a dirty word in Washington, DC But growth in the world’s largest economy is already dismal.
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China Scholar: US Debt Deal Won’t Restore Confidence in Treasurys, Dollar
Wall Street Journal
There won’t be any material impact on China’s government holdings as long as the regulator isn’t in a rush to sell,” he said. But with the ongoing uncertainties in the US, China needs to reduce the proportion of dollar assets when it adds to its
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China finds vindication in US debt crisis
CBS News
Beijing funds US government debt by its purchase of US Treasurys, propping up the American economy so US consumers will continue buying products manufactured in China, keeping China’s economy growing too. Chinese officials are trying to get some
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Special Report: China’s shortcut to Wall Street
Reuters India
Chinese and US flags are arranged during the third annual USChina Strategic and Economic Dialogue (S&ED) at the State Department in Washington May 9, 2011. Articles in this series are exploring the extent and impact of corporate secrecy in the United
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ISI chief on secret China visit as US ties take a blow: Report
Times of India
PTI | Aug 1, 2011, 12.15PM IST ISLAMABAD: ISI chief Lt Gen Ahmed Shuja Pasha has embarked on a secret visit to China that is being seen as part of Pakistan’s efforts to reduce its dependence on the US in the wake of strained military and intelligence
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Coal Companies That Could Be the Big U.S. Exporters to China
Seeking Alpha
Sufficient port facilities for shipping coal to allow for the desired expansion of shipping to China, etc., do not exist. The green groups are opposing expansion. Still this is likely a losing battle. The US needs to export (to balance trade) and it
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Are China and US Destined to Clash?
The Diplomat
August 1 is Army Day in China. Recent improvements in Sino-US military ties are welcome, but conflicting interests mean tensions might still be inevitable. By Richard Weitz In a recent piece in the New York Times, Mike Mullen, Chairman of the US Joint
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Seeking an Answer on US Arms Sales to Taiwan
Wall Street Journal (blog)
In a recent interview with the Wall Street Journal, Taiwan president Ma Ying-jeou weighed in on the question, acknowledging that it will become increasingly difficult for Taiwan to purchase weapons given the evolving nature of USChina relations.
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Hop-on’s USAcig Nicotine Products Are Requested by China
PR Newswire (press release)
China has banned domestic electronic cigarette manufacturers due to lack of safety and various quality reasons. Hop-on’s nicotine is a US based product that will supply China and use US trade agreements to push its products in China.
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China takes knock-offs to a new level, copying entire stores
USA Today
By Calum MacLeod, USA TODAY BEIJING — In millenniums past, China developed the compass, gunpowder and papermaking, among multiple inventions that have shaped world history. In recent years, it has grown infamous as counterfeit central, from fake films
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HK shares rise on last-minute US deal, coal plays lift China
Economic Times
The China Enterprises Index of top locally listed mainland companies was up 1.97 percent. Turnover was light at HK$30 billion on the Hong Kong stock exchange, suggesting investors remained cautious, partly on the possibility that the United States
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Will China replace US as No 1?
But 72 per cent of the French, 67 per cent of the Spanish, 65 per cent of the British, and 61 per cent of the Germans see China overtaking the US as the world’s superpower. Even 46 per cent of Americans think China has or will overshadow them.
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Govts welcome US debt deal, still worry about ratings
Japan, second to China as America’s biggest creditor, joined other countries and investors in praising the deal but said it hoped the United States would take additional steps to stabilise its finances and head off the threat of a downgrade.
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US to Strengthen Diplomatic Ties With China via Will.I.Am
New York Magazine
Hillary Clinton has selected to head a State Department–backed concert in Beijing this year, with the explicit goal being to “encourage cultural and educational exchanges between the United States and China.” There’s no information on date or
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Revaluation of the Chinese Yuan Would Improve the US Trade Balance
Huffington Post
The New York Fed researchers, Matthew Higgins and Thomas Klitgaard, examine the impacts of a stronger renminbi (RMB), the official currency of China, denominated in yuan, on the USChina trade balance only, ignoring the impact that RMB manipulation has
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2011 Swimming Worlds: Five takeaways
Universal Sports (blog)
One thing is abundantly clear after watching the Worlds for eight days: The US is still the swimming superpower. American swimmers won 29 medals in the pool, more than twice what China (14) and Australia (13) gathered. The 16 gold medals the US won was
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US, Vietnam start first military relationship
WASHINGTON — The United States and Vietnam on Monday opened their first formal military relationship since their war, another sign of growing cooperation amid high tensions between Hanoi and China. The US and Vietnamese militaries signed an agreement
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China’s fake Western goods now include stores
Tucson Citizen
In the southwest China city of Kunming, officials found five Apple stores last month, including one near flawless “branch,” yet none were authorized by the US electronics company. Another fake Apple store operates in Chongqin City, the China Daily
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Everest Kanto sees good growth in US China to lag behind
“The US business too has started to do well, reporting good growth in revenue through a strong order book,” he says. However, margins in China came under pressure due to competition, he says. “We may not be in a position to move into black there,
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Weak Manufacturing Report Rains on Rally in Markets
ABC News
Before the US markets opened, Asian markets had also rallied with the news that Washington may finally have a deal to avert a debt crisis. But for China, the US’s largest creditor, it has been a nail-biting wait and while a doomsday scenario default
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US Economy: Manufacturing Almost Stalls as Orders Decrease
UK, Russian and Australian manufacturing shrank, while the pace of factory growth slowed in Europe and China, according to other surveys today. The US ISM report showed the new orders measure dropped to 49.2 in July from 51.6, while orders waiting to
See all stories on this topic », US State Dept. to Back Beijing Concert
Hollywood Reporter
The concert is being organized by Americans Promoting Study Abroad, a US nonprofit organization that sponsors low-income students to study Chinese language and culture in China. Clinton and met on July 29 in Washington, according to the State
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China muscling US aside in Thailand
Washington Times
By Richard S. Ehrlich – Special to The Washington Times BANGKOK — The United States is worried about China’s growing influence in Thailand, as Washington’s prestige appears to be fading with America’s oldest South Asian ally. Former US Ambassador Eric
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Bond Risk Narrows on US Impasse, Supports JGBs: Japan Credit
Domestic demand has helped Japan preserve the world’s lowest bond yields, while the yen’s gain toward record levels makes the debt attractive to China and other overseas investors. “Japan has experienced downgrades while a rating cut for US debt would
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China state TV says US deal lacks ‘substance’
Straits Times
‘It’s a political performance which has more pomp and ceremony than substance,’ China Central Television said in a rare editorial broadcast on its evening news bulletin. ‘The American taxpayer and global debt holders suddenly find out that the debt
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Asian Buyers Target U.S. Hotels as Rising Affluence Boosts Travel Abroad
By Nadja Brandt – Mon Aug 01 16:01:01 GMT 2011 High-end hotels in large US cities are attracting buyers from Hong Kong, China and Singapore seeking to cater to a growing number of affluent Asians traveling abroad. Acquisitions by Asian investors
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Chinese teachers are on a US mission
Los Angeles Times
Most had never before left China. They had come armed with hopes of succeeding in the classroom, with fears that American students would be difficult to manage and with impressions of US culture based on a diet heavy in Hollywood films.
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US debt deal has mixed bag for India
The deal that would result in raising the US government debt ceiling to $14.4 trillion and stave off a default on repayment. For India, China, Japan and a whole host of countries that hold at least part of their foreign currency reserves in US treasury
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Mizzou’s Denmon is finalist for U.S. World University Games hoops team
Kansas City Star
“It was a great experience and it’s something we can all use to get us ready for the 2012 season,” English said through MU. “I’m excited for Marcus. He is going to represent our university and our country over in China and bring us home the gold.
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Trump: ‘Joke’ Debt Deal Doesn’t Solve US Problems
The key to righting the economy is fueling more economic growth bringing jobs and manufacturing back to the United States from places like China, Trump says. “Our leaders are not as smart as leaders in China. China is eating our lunch.
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North Korea Plans More Discussions With US
Global Security Newswire
Last week’s dialogue and a July meeting between the North and South Korean nuclear envoys could lay the groundwork for reigniting the long-frozen negotiations involving China, Japan, both Koreas, Russia and the United States. The last round of nuclear
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Coca-Cola Foundation funds scholarship to study abroad in China
UT The Daily Texan
Secretary of State Hillary Rodham Clinton said at the inaugural meeting of the advisory committee for the 100000 Strong Initiative in May that the relationship between the US and China is critical for future economic advancement.
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China blames Muslim extremists for attack in Xinjiang
“It’s now an umbrella term used by China for any kind of Uighur separatist or anti-state activity,” Bequelin said of ETIM, which was designated as a terrorist organization by the United States in 2002. Earlier on Sunday, Chinese media reported that two
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Obama strikes debt deal
China Daily
By Steven R. Hurst (China Daily) WASHINGTON – Republicans and Democrats in Congress reached agreement with US President Barack Obama to raise the limit on US borrowing and forestall an unprecedented American default, marking the start in the final
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Notes on the Rise of China
The Atlantic
An analysis of the actual quality of rapidly rising number of patents in China tells a very different story than the one we usually hear about how soon China will be an innovation giant. Only 1700 Chinese patents were granted last year by the US Patent
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Asian Markets Rally on Debt Deal News
ABC News
But for China, the US’s largest creditor, it has been a nail-biting wait and while a doomsday scenario default has likely been avoided, many are asking whether the damage has already been done. “The short answer is yes,” Steven Xu, the director of the
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United Envirotech Announces a New US$113.8 Million Convertible Bond Investment
MarketWatch (press release)
KKR’s investment will allow us to achieve further growth at a crucial time in the development of the China waste water treatment industry,” said Dr. Lin Yucheng, Chairman and CEO of UEL. “In addition to bringing in capital to support our growth,
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What’s So Great About China?
Forbes (blog)
China. Which country outside of the US fixed income investor is the largest financier of the US? China…again. When it comes to investing, few people are bearish about China. It’s fast replacing the US as the engine of growth worldwide.
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Weak manufacturing data trumps US debt deal as stocks fall
Deutsche Welle
Initial gains, buoyed by a deal in the US to raise the federal debt limit, did not last long. Stocks around the world dropped on Monday as weak manufacturing figures in the United States, China and Europe outweighed a breakthrough deal to raise the US
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US Founding Father Cleared of Importing Invasive Species
Voice of America (blog)
(Photo: Rice University) To clear Franklin’s name in this matter, scientists from several US universities conducted a genetic study of more than 1000 Chinese tallow trees from China and the United States. Scientists conducted hundreds of genetic scans
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Bremerton’s Nathan Adrian wins relay gold medal at worlds | Swimming
The Seattle Times
(July 31, 2011, by AnnieCycle2) Read more Nathan Adrian of Bremerton swam the anchor leg for a US 400-meter medley-relay team that won the gold medal Sunday at the world championships in Shanghai, China. The American team of Nicholas Thoman,
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UPDATE 9-Brent off 6-week high on U.S. debt progress
China’s factory sector struggled with its weakest activity in 28 months in July as manufacturers grappled with a credit shortage and softening global demand. “PMIs are coming out very weak. The fact is that China is in a downtrend. And with the US also
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US manufacturing slowdown raises economy concerns
Financial Times
The US figures followed reports of slowing factory activity in China and India that raised questions over the future of those two fast-growing economies. Monday’s figures also came on the heels of dismal growth data released on Friday, which showed
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