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U.S. China News 2011.08.05

Fri, August 5, 2011

China says debt financing unlikely ‘to save’ US, EU
AFP
BEIJING — China said Friday that debt deals in the United States and in Europe would not be enough to save their economies and “concrete steps” must be taken to rebalance the global economy. “The only way the Americans have come up with to improve
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Suing China in a US Court: Notes From the Green Dam Copyright Case
Business Insider
As I discussed in a recent post on a New York case filed by some overseas Chinese dissidents that also had China as a defendant (Baidu vs. NYC Dissidents: Why This Case Sucks), foreign governments are generally immune from such liability under US law,
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Senators urge end to US development aid to China
BusinessWeek
A bipartisan group of senators is calling for an end to tens of millions of annual US development aid to China, saying there are more needy countries than the world’s second-largest economy, which has trillions in foreign reserves.
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Road trip: Chinese rev up the RVs
USA Today
The prospect of RV competition from China, infamous for cheap knockoffs, worries some Americans. In June, US RV blogger Bob Zagami warned that putting a Chinese-made RV on to a US dealership “is about as un-American as you can get.
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China Must Escape ‘Dollar Trap:’ Former Official
AdvisorOne
By Marlene Y. Satter China should stop buying US dollars and allow the renminbi to float as quickly as possible, according to a former member of the monetary policy committee of China’s central bank. That will allow the country to escape the “dollar
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Arghhhhhh! China’s Desire to Slow Growth is Good News for the US, Not Bad
Business Insider
First, it makes imported goods cheaper for people living in China. That will slow inflation. Second, a higher valued yuan will lead China to import more from countries like the United States and to export less. This will reduce demand in its economy
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China’s ICBC to take over Standard Bank Argentina
Reuters
“It enables us to still have a connection to Argentina. I think ICBC are very keen for us to partner with them in Argentina, they clearly don’t have any expertise in the country,” Maree said. Standard Bank Argentina’s chairman, Myles Ruck,
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US Vice President to Visit China, Mongolia and Japan
Voice of America (blog)
US Vice President Joe Biden is to visit China, Mongolia and Japan later this month. The vice president’s office made the announcement Thursday. The statement says Biden will depart for the region August 16. In China, he will meet with President Hu
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‘Operation Shady Rat’: Investigators uncover massive cyber attack on US and UN
Daily Mail
By Daily Mail Reporter Security experts have uncovered a five-year-long hacking scheme, believed to be from China, which targeted US government and UN computers. The country is accused of systematically launching huge cyber attacks on computers and
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Ties with China crucial for Atlanta
China Daily
To enhance the China relationship, Reed has mapped out a strategy which starts with a “complete personal engagement”. Along with meeting diplomats and business executives from China and the US, Reed’s administration is learning from UPS, a company with
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US, Pak heading towards confrontation over FMCT
Hindustan Times
The US has the support of four declared nuclear powers for its move, Dawn newspaper reported. The US media reported that the Obama administration had won China’s support for finalising the FMCT. At a recent conference in Paris, Russia,
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China’s growing military might matter of great concern: US
Indian Express
The fast increasing military might of China is a growing concern for the US, a top Pentagon official said. “Having just visited China recently, certainly both South Korea and Japan; we’re all concerned with sustaining continued stability in the region
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Insight – North Korea leans on China to make economic zones work
Reuters
China’s gravest fear is the scenario in which North Korea collapses, allowing US troops stationed in the South access right up to its border. It thus wants to keep the status quo. Beijing has encouraged the North to follow its path of “socialism with
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China should let yuan “float”: former central bank adviser
Reuters
“If there is any lesson China can draw from the US debt ceiling crisis, it is that it must stop policies that result in further accumulation of foreign exchange reserves,” he wrote in an article in the Financial Times. Until China can reduce the inflow
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China calls for global cooperation on debt risks
Reuters
BEIJING, Aug 5 (Reuters) – China’s Foreign Minister called on Friday for more global cooperation to resolve US and euro area debt problems as stock markets around the world tumbled on fears another financial storm may be developing.
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US exports chopsticks to China
China Daily
The shortage of chopsticks in China has become so acute that a US company has begun exporting millions of pairs to the country, said an article on the website of The Telegraph on August 2, 2011. According to the article, Georgia Chopsticks,
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Fennelly to coach US at World Games
Go Cyclones
The Americans are practicing this week at the US Olympic Training Center in Colorado Springs, Colo. Their pool in China includes Brazil, Slovakia and Great Britain. “The world is shrinking when it comes to basketball,” Fennelly said.
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‘Journal’ editorial warns Obama not to appease China by withholding jets
Taipei Times
By William Lowther / Staff Reporter in Washington As China intensifies its campaign to stop US President Barack Obama from selling F-16C/D aircraft to Taiwan, some friends of Taipei are hitting back. The Wall Street Journal has published an editorial
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US economy adds 117000 jobs in July
UPI.com
Without prompt efforts to produce more domestic oil and redress the trade imbalance with China, the US economy cannot grow and create enough jobs. (Peter Morici is a professor at the Smith School of Business, University of Maryland School,
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US debt ceiling deal is double-edge sword for China
China Daily
By Li Xiangyang (peopledaily.com.cn) The roller-coaster debate over raising the US national debt ceiling finally concluded after the two parties made compromises. The Democratic Party-led administration removed the political restraint of debt default
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Sen. Klobuchar urges China and Japan to open markets to US beef
Coon Rapids ECM Publishers
4) calling on US Trade Representative (USTR) Ron Kirk and Secretary of Agriculture Tom Vilsack to urge China and Japan to open their countries’ markets to US beef. China and Japan closed their markets to US beef in the aftermath of the bovine
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Hotel Stocks: Are US Hotels M&A Targets?
NASDAQ
The economic climate might just be right for a spate of foreign investments into the American hotel industry, reports Nadja Brandt of Bloomberg. “High-end hotels in large US cities are attracting buyers from Hong Kong, China and Singapore seeking to
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Special report: The “Shorts” who popped a China bubble
Reuters
Some have never even been to China; most don’t speak or read Chinese. And yet in the past nine months, this small group of “short sellers” has published research exposing accounting fraud at a series of Chinese companies listed in the United States and
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Carlyle-backed New Century Hotel Plans To Raise Around US$400 Mln In HK IPO
Wall Street Journal
In the latest case, China Shipping Nauticgreen Holdings Co. postponed its up to US$193 million HK IPO offering, a person familiar with the situation said Thursday. That came after China Everbright Bank Co., which began gauging investor interest in an
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LCU camp gives Chinese kids a taste of US culture
Bloomington Pantagraph
STEVE SMEDLEY Mike Yang, 10, of China draws a picture of his favorite American food, a hamburger, on Tuesday, Aug. 2, 2011, during the first day of an English camp for Chinese students hosted by Lincoln Christian University and the American Chinese
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US shows concern over China’s growing military might
Brahmand Defence and Aerospace News
US Navy Adm. Mike Mullen, chairman of the Joint Chiefs of Staff and Defence Secretary Leon E. Panetta, during a press conference at the Pentagon, Aug. 4, 2011. Photo: US DoD. WASHINGTON (PTI): The fast increasing military might of China is a growing
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Notre Dame men’s basketball: Abromaitis named to US national team
South Bend Tribune
The United States opens pool play Aug. 13 against Mexico. The US also plays an exhibition Thursday in Huizho, China, against New Century, a Chinese Basketball Association professional team. Competition runs through Aug. 23.
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Keep Pushing to Open Markets in Japan, China to Colorado Beef
Ag Journal
4, Mark Udall joined Senator Debbie Stabenow and 37 colleagues in calling on Department of Agriculture Secretary Tom Vilsack and US Trade Ambassador Ron Kirk to press China and Japan to relax their barriers to US beef imports.
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Visiting Chinese students give high marks to American life
Tbo.com
The organization, Education First, offers children the chance to learn about other countries and cultures. The students, who return to China next week, gave rave reviews of their time here. “We just love American food, it’s No. 1,” said Wang Yi Ran,
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Comments of the day:
CNN (blog)
“I hate to admit it, but China is right on this one. Good thing they only downgraded us a notch.” – urwelcome “Meanwhile, that credit agency has a sweatshop in the back, making American flags.” – AmericaIndia China’s leading credit rating agency
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Chinese teachers cram for biggest test: US schools
The Seattle Times
Dozens of teachers from China recently attended a nine-day crash course to prepare them for what they consider the opportunity of a lifetime: teaching Mandarin in US schools. By Ricardo Lopez Folklorico dancer Denise Pereida, 16, left,
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Academics suggest cross-strait effort on sea dispute
Taipei Times
In a chapter regarding the US‘ policy on the South China Sea dispute, the academics said that Washington would continue its strategy of cooperating with Southeast Asian countries and actively intervene in the region with a view to counterbalancing
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China Emerges as a Safe Bet in a World Full of Risk: Trader
Yahoo! Finance (blog)
Lately, wherever you turn, it’s been almost all zag all the time, but that could be about to change traders say, with China taking the high road and the US taking the low road. “China is slowing but doing better than anywhere else,” says Todd
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The Two-Way : NPR
NPR
News of the ban hit media outlets in the US and England Wednesday. But it seems to have been the outrage of dog fans in Jiangmen and elsewhere in China that prompted the government to reconsider the ban. “I am tremendously happy and proud to see that
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New love letter: TPaw lavished praise on Jon Huntsman
Daily Caller
Pawlenty’s letter stresses the importance of the USChina relationship, and of the role Minnesota has played in pioneering the trade relationship between the two countries. “The economies of the United States and China will become increasingly
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A superpower at war with itself
Times of India
Nearly half of American bonds are held by foreigners, a quarter of them – some $1.2 trillion – by China alone. Not surprisingly, Beijing scolded the US for its “dangerously irresponsible” action. Even Russian Prime Minister Vladimir Putin,
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SPE rewards China mold maker
Plastics News
Even with costs rising, though, he said he thinks China will stay competitive in global manufacturing. His 250 mold makers, for example, earn on average 3500 RMB to 5000 RMB a month (US$547 to US$780), so there is still some room to raise wages and
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US budget, Indian security
Hindustan Times (blog)
With no terrorist attacks on US soil since 2001 and Osama Bin Laden dead, the former sense of peril has clearly dissipated. China remains a source of concern to theoreticians. Until now the Republicans had seen an ever-higher defence budget as being
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MSU’s Draymond Green, UDM’s Ray McCallum make US team
Detroit Free Press
Michigan State’s Draymond Green and Detroit Mercy’s Ray McCallum made the cut for USA Basketball’s World University Games team. The squad continue training in Colorado Springs, Colo., before leaving Monday for China. Green, a Saginaw native,
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U.S. investors aren’t keen on the week’s IPOs
MarketWatch
The slate includes two companies that do business in China, an area that US investors have shunned due to corporate governance and accounting concerns, so it’s unlikely that all eight will actually price.
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Osman Mirghani: The next US revolution
Al-Arabiya
China today is competing with the US to lead the global economy, and is considered Washington’s major creditor, after Beijing purchased more than one trillion dollars of US treasury bonds, and also keeps the majority of its foreign exchange reserve in
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