Skip to content

U.S. China News 2011.08.06

Sat, August 6, 2011

China tells US “good old days” of borrowing are over
Reuters
In the Xinhua commentary, China scorned the United States for its “debt addiction” and “short sighted” political wrangling. “China, the largest creditor of the world’s sole superpower, has every right now to demand the United States address its
See all stories on this topic »

China scolds US over debt
BBC News
China has scolded the US over its “addiction to debt” after rating agency Standard & Poor’s downgraded the US‘ top-notch AAA rating to AA+. State news agency Xinhua said unless the US cut its “gigantic military expenditure and bloated welfare costs,”
See all stories on this topic »

Forget US woes, China keeps our economy strong
Sydney Morning Herald
And, unlike the US, China is actively pursuing the required economic reform instead of just talking about it. If nothing else, America’s woes provide further impetus for that necessary broadening of China’s economic base, a broadening that in the
See all stories on this topic »

China Must Worry about an American Version of Shady RAT
Council on Foreign Relations (blog)
This entry was posted on Saturday, August 6th, 2011 at 12:28 pm and is filed under China, Cybersecurity, USChina Relations. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
See all stories on this topic »

Asia Central Banks Set to ‘Stick It Out’ With U.S. Treasuries
Bloomberg
China’s official Xinhua News Agency said in a commentary the US must cure its “addiction” to borrowing. With Europe battling its debt crisis, France joined the US in questioning S&P’s reasoning. For all the angst, policy makers from China to Japan to
See all stories on this topic »

Honda to recall 2.26 mil. cars in China, US on faulty transmission
Mainichi Daily News
BEIJING (Kyodo) — Honda Motor Co. said Friday it is recalling 2.26 million Honda cars sold in China and the United States to fix a faulty bearing in the automatic transmission system. Including Canada, Europe and other markets, the automaker said it
See all stories on this topic »

Mizzou’s Marcus Denmon On Team USA Tipping It Off In World University Games
SB Nation
Team USA will leave for China on Monday and will play an exhibition game against New Century, a Chinese Basketball Association team on Aug. 11 in Huizhou before beginning World University Games action on Aug. 13. The US team will compete in pool play
See all stories on this topic »

Standard & Poor credit rating: Asia moves to calm US debt downgrade fears
Economic Times
But Japan, the second largest holder of US debt after China, said the move would not affect its confidence in US government bonds, while Australia and South Korea warned against over-reacting to the downgrade. “The trust we have in US Treasuries and
See all stories on this topic »

US Vice-President Biden to visit Beijing
China Daily
By Qin Jize (China Daily) BEIJING – US Vice-President Joe Biden will visit China later this month to strengthen ties with Beijing. “He will visit China at the invitation of Vice-President Xi Jinping – the first of the planned reciprocal visits between
See all stories on this topic »

The Post-Western World
Forbes (blog)
Their biggest problems at the moment are inflation, much of it caused by the easy money policies of the US and EU, and multinational corporations investing heavily in the big emerging markets like Brazil and China, thus flooding the countries with
See all stories on this topic »

US lawmakers press China to free Nobel laureate
AFP
WASHINGTON — Two senior US lawmakers on Friday renewed calls on China to free Nobel laureate Liu Xiaobo after a UN panel said that Beijing’s detention of the dissident writer broke international law. The two co-chairs of the US congressional committee
See all stories on this topic »

The US Cannot Rely on ASEAN in the South China Sea
Heritage.org
American policymakers, however, must keep ASEAN’s value to American interests in perspective—its institutionally inept handling of the South China Sea dispute is the most current, stark reminder. The United States has other, more direct avenues to
See all stories on this topic »

Made in the USA—and China
BusinessWeek
Why the new paradigm will be to manufacture in both China and America. And Southern US states will win big on jobs By Harold L. Sirkin If I had told you in the summer of 2009 that America’s long-suffering manufacturing industries would lead the
See all stories on this topic »

China warns U.S. about its debt
WWLP 22News
China’s central bank has called on the US to manage its debt. Just one day after the debt deal, the nation’s top creditor warned Washington of its November deadline, saying more economic uncertainty could hurt the global economy.
See all stories on this topic »

ICBC acquires South American Bank
China Daily
It also offers us the opportunity to continue to develop our partnership with ICBC and to help connect Argentina to Africa and other selected emerging markets, including Brazil and China,” said Maree. Compared with other Chinese banks, ICBC has been
See all stories on this topic »

US, Europe, Greece, Chinese economies struggle: How India can sheild itself
Economic Times
Economic turmoil in Japan does not bode well for many of its trading partners, China and US being the biggest ones. Where does India fit into this big picture? Stubbornly-high inflation and a persistent clawback in FDI have resulted in dampening
See all stories on this topic »

US economy, China concerns create ‘deadly cocktail’ for financial markets
China Post
“The combination of a much gloomier US economic outlook, growing economic concerns in China, persisting debt problems of eurozone peripherals and worries about the stability of the euro as well as rising risk aversion in general are a deadly cocktail
See all stories on this topic »

Jobs for China
Santa Barbara Independent
Instructional memo to politicians and bureaucrats: Here is something you are apparently not aware of: Workers in China don’t pay US taxes! “The China State Construction Company has renovated the Alexander Hamilton Bridge between Manhattan and the
See all stories on this topic »

Asia’s central banks still glued to Treasuries
Globe and Mail (blog)
Asian countries are among the biggest buyers of US government bonds, with China alone holding nearly $1.2-trillion (US) worth of securities. According to Bloomberg News, South Korea has added the downgrade to its list of things to discuss at an
See all stories on this topic »

Commodity rankings due to China, US growth fears, EU debt crisis
Commodity Online
By Terry Wooten Barclays Capital says concerns over slowing growth in the US and China, and the ongoing European debt problems, prompted changes in its rankings of several commodities. Barclays says in a research note that growth and debt issues will
See all stories on this topic »

Central Bank: No impact on bond portfolio after US rating downgrade
Focus Taiwan News Channel
6 (CNA) The downgrade of US credit ratings by Standard & Poor’s has no impact on the bond portfolio held by the Central Bank of the Republic of China (CBC), a senior banker said Saturday. CBC Deputy Governor Chou A-ting made the comments after S&P
See all stories on this topic »

China’s Undervalued Currency
The American (blog)
By Philip I. Levy China’s undervalued currency has been a major preoccupation of US international economic policy for much of the last decade (a history I review here). It’s an open question whether the focus on the renminbi has been excessive or
See all stories on this topic »

Is US Strength Provocative to China, or US Weakness?
American Enterprise Institute
Friedberg has in fact written a judicious, measured assessment of the stakes between China and the United States over the next several decades. Careful analysis and objectivity, however, do not mean Friedberg is indifferent to the outcome,
See all stories on this topic »

China Blasts US Debt ‘Addiction’
Newser
China, sitting atop scads of cash, has little choice but to continue buying US debt, notes the Times—particularly since a pullback could devalue the Treasuries it already holds. But that doesn’t mean it’s pulling any punches: “The US government has to
See all stories on this topic »

S&P downgrade, China has right to demand US address its debt problem: Xinhua
Economic Times
BEIJING: China “has every right” to demand the United States address its debt problem following the downgrade by Standard and Poor’s, the official Xinhua news agency said on Saturday. In a stinging commentary, Xinhua said Washington needed to “come to
See all stories on this topic »

Choosing my ‘all-weather’ friend
The Express Tribune
This may have been true a decade ago, but as the economic relationship between India and China grows by leaps and bounds — China is already India’s second largest trading partner after the US — there will be more and more stakeholders in China who
See all stories on this topic »

Ellison nabs three of four US golds at Archery World Cup
StandardNet
“Going out there and every match winning a gold medal with the USA crowd behind us…you can’t ask for anything better than that.” Friday night’s championship round started with the women’s team recurve bronze medal match between the US and China.
See all stories on this topic »

Fil-Am leaders ask Federal Reserve to study China bank’s planned acquisition
Inquirer.net
Lewis, joined by other representatives of the US Pinoys for Good Governance (USP4GG), told Federal Reserve chairman Ben Bernanke that the ICBC is funding the planned drilling of oil this month in the region in the West Philippine Sea (South China Sea).
See all stories on this topic »

Mission ‘democracy’ is mission hypocrisy
China Daily
By Op Rana (China Daily) The world economy heaved a sigh of relief. White House welcomed it as a step forward. US President Barack Obama could claim that he saved Americans from imminent disaster, even if it was at the last minute.
See all stories on this topic »

S&P downgrades US credit rating…Typhoon nears China…Japan marks bomb
KTUU
By AP WASHINGTON (AP) — It’s not clear what impact a credit-rating downgrade by Standard & Poors will have on the US economy. Until yesterday, the country has never had anything but the top rating. S&P knocked that down a notch,
See all stories on this topic »

China blasts US over credit rating downgrade
Newsday (subscription)
Click here China blasts US over credit rating downgrade Published: August 6, 2011 8:25 AM By The Associated Press ALEXA OLESEN (Associated Press) (AP) — China, the largest foreign holder of US debt, demanded Saturday that America tighten its belt and
See all stories on this topic »

US ‘must do better’ on economy
BBC News
John Chambers, head of S&P’s sovereign rating committee, criticised the way the US had reached its debt deal, saying it was “not how most highly-rated governments run themselves”. Earlier on Saturday, China – the world’s largest holder of US debts
See all stories on this topic »

G7 meeting mulled on US downgrade, eurozone crisis
Taipei Times
No other member of the group — which does not include the world’s second-largest economy China — has confirmed the meeting. Worries the eurozone debt crisis was spreading and the US was slipping into recession drove a week-long rout in financial
See all stories on this topic »

Washington can’t afford to squander America’s AAA advantages
Telegraph.co.uk (blog)
But Republicans will be naive to believe they won’t escape the anger of the American public over what could be more than a blow to the country’s prestige. And some of the US’s biggest foreign creditors have already voiced their anger, with China’s
See all stories on this topic »

Bill would force US companies to fight child labor, modern-day slavery
Alaska Dispatch
Against their will, they produce coffee in Kenya, electronics in China, rubber in Burma – nearly 130 goods in 70 countries, according to a 2010 US Department of Labor report. Public awareness of modern-day slavery and human trafficking has grown in
See all stories on this topic »

UPI NewsTrack TopNews
UPI.com
About two-thirds of China’s $3.2 trillion in foreign exchange reserves are in US dollars and Beijing is clearly concerned with the political sniping that nearly shut down the US economy, The Los Angeles Times reported. “China, the largest creditor of
See all stories on this topic »

US Market Considered Safest for Investors
Daily Political
It could lead to the disbandment of the European Union and the euro. Some of those selling US stocks are coming from European banks who want to increase their liquid assets. China is experiencing an economic slowdown at the moment.
See all stories on this topic »

The troubled global outlook is giving policymakers headaches
Malaysia Star
US debts, which used to be one of the “safest” assets to own, are usually kept as reserves by these countries. According to the US Department of Treasury, China owned US$1.2 trillion worth of securities as at May 31, while Japan owned US$912bil.
See all stories on this topic »

What happens when citizens lose faith in government?
The Daily Star
The recent outburst of public rage in China over the high-speed rail crash is one piece of supporting evidence. Mr Hirschman came up with his theory of exit and voice in the United States, and he believed that exit had been accorded “an extraordinarily
See all stories on this topic »

U.S. Loses AAA Rating at S&P on Concern Debt Cuts Deficient
San Francisco Chronicle
their currencies against the dollar, which would impair export competitiveness. China has accumulated $1.16 trillion in the securities and the nation’s official Xinhua News Agency said in a commentary that the US must cure its “addiction” to borrowing.
See all stories on this topic »

Matt McCarten: US counts financial costs of tea partiers
New Zealand Herald
As punishment, China downgraded the US’s rating this week and it’s inevitable that other financial rating agencies will follow. The US was proudly the world’s first democracy and the Americans for generations have inspired the world.
See all stories on this topic »

Unprecedented Guatamala Court Order Seeks Return of Adopted Girl From U.S. Who
Fox News
Guatemala’s quick adoptions once made this Central American nation of 13 million people a top source of children for the US, leading or ranking second only to China with about 4000 adoptions a year. But the Guatemalan government suspended adoptions in
See all stories on this topic »

China not facing hard landing: report
MarketWatch
While inflation remains high, anxiety about China’s growth prospects appeared to have taken center stage, on concerns that its anti-inflation efforts may have been overdone and the global economy may be running into a ditch again. If demand from the US
See all stories on this topic »

China slams cyber hacking claims as ‘irresponsible’
Oman Tribune
The People’s Daily — the mouthpiece of the Communist Party — said the claim that China hacked victims including the United States, United Nations, defence contractors and the International Olympic Committee “does not hold water”.
See all stories on this topic »

Africa investment urged to boost world economy
AFP
“Imagine if there were no China and India or Brazil at a time when Europe and the US are in difficulty. It would be a big recession because China and India and Brazil are picking up the slack. “If we could now add Africa, I think that that could give a
See all stories on this topic »

UT’s Feigen claims another silver medal
San Antonio Express
After competing in China and possibly Mexico, Feigen said his next goal is to be part of the American relay corps with Adrian and Weber-Gale next year following the OIympic Trials in Omaha, Neb. “I think I’ll be able to hold (my taper) well for China.
See all stories on this topic »

The humbling of America
Inquirer.net
They are shocked to learn that their country’s biggest single foreign creditor is China, forgetting that long before the recession, American consumption was already being funded by Chinese savings. They are traumatized by the thought that someday US
See all stories on this topic »

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: