Skip to content

U.S. China News 2011.08.08

Mon, August 8, 2011

Analysis: Behind the bluster, China reprices U.S. risk
Reuters
That would help to reduce the build-up of cash inside China. But it would only marginally trim China’s US exposure. An estimated two-thirds of China’s $3.2 trillion in reserves is invested in US dollar-denominated assets such as Treasuries,
See all stories on this topic »

China Yuan Up Late After US Downgrade; Traders Expect More Gains This Week
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan rose against the US dollar late Monday, hitting an intraday high under the current system on central bank guidance following a historic US credit downgrade. However, large import settlements by oil firms spurred by a
See all stories on this topic »

China data may be rare bright spot in U.S., EU gloom
Reuters
After 10 months of steady tightening, analysts say grim growth outlooks in China’s biggest export markets, the United States and Europe, should stay Beijing’s policy hand. Since October, China has raised interest rates five times and cash reserve
See all stories on this topic »

Will the US lose Pakistan to China?
GlobalPost
Last week’s winner probes the US angle on the News Corp hacking scandal. Check the membership site in mid-August for a link to completed piece. The conventional wisdom in New Delhi is that China uses Pakistan as a tool to thwart India’s rise as a
See all stories on this topic »

CORRECTED-HK, China shares tumble, US downgrade speeds risk aversion
Reuters
There’s not a lot of confidence right now,” said Francis Cheung, managing director of China-Hong Kong strategy at CLSA. “It’s strange that whenever there’s a crisis, the money goes back to the United States, it doesn’t make much sense, but that’s how
See all stories on this topic »

US gives Taiwan assurances on Biden China trip
Taipei Times
“The essence of the problem is that some US Congress members hold a contemptuous attitude toward the core interests of China, which shows that they will never respect China. ChinaUS relations will always be constrained by these people and will
See all stories on this topic »

US and China Fail to Agree on Cross-Border Auditing Standards
Business Insider
Aside from political factors, a cross-border regulatory cooperation between China and US may encounter technical difficulties. A partner at a big American auditing institution said that even after the two countries sign a cross-border supervision
See all stories on this topic »

What US fiscal woes teach China
CNN (blog)
By Yukon Huang, The Diplomat As the largest foreign buyer of US government securities, China can only fret as the value of its holdings is held hostage to a fractured political process in Washington. But while the longer-term implications of these
See all stories on this topic »

China’s Currency Flirting With Highs on US Credit Rating Downgrade
Business Insider
Since the US credit rating downgrade the Chinese yuan is flirting with 17-year highs. Are we witnessing a major global economic turning point? Is it only a matter of time before China’s credit rating matches the US? Or, before a yuan is worth more than
See all stories on this topic »

US seeks consulate in Tibet, China fumes
Rediff
India [ Images ] should emulate the US and not allow China to open any more consulates until it permits us to open a consulate in Tibet [ Images ], opines B Raman. The Chinese government, which was annoyed at the meeting between United States President
See all stories on this topic »

BMW vehicle sales up 7.6 percent in July on US, China
Baltimore Sun
FRANKFURT (Reuters) – German premium carmaker BMW said unit sales rose 7.6 percent in July, driven by growth in demand from the United States and China. July sales of its BMW, Mini and Rolls-Royce brands rose to 129094 vehicles it said on Monday.
See all stories on this topic »

Asia banks face dollar funding squeeze after US debt rating cut
Reuters
By Kelvin Soh and Saeed Azhar HONG KONG/SINGAPORE, Aug 8 (Reuters) – Asia’s banks are seen facing a bump-up in dollar-funding costs and potentially slower credit growth after Standard & Poor’s historic US debt rating downgrade, strengthening China’s
See all stories on this topic »

Asia advised to watch China’s debt, not US downgrade
Radio Australia
So are Asian markets’ reaction to the US downgrade panic-driven, or is there real cause for concern? Richard Martin, one of the region’s leading experts on the Asian economies, says China’s own debt should also be of some concern.
See all stories on this topic »

The US Debt Follies Continue: China as Drug Dealer to American Addicts?
Business Insider
So Simon Rabinovitch in the Financial Times goes with the drug dealer/addict analogy as a vehicle for explaining why China’s hands are not completely taint free on the whole US debt situation. Yeah, I don’t see it. I’m actually getting a bit tired of
See all stories on this topic »

China warns US: pay your debt or no more iPads
The Spoof (satire)
Beijing — The government of China has officially called in all of the loans it has made to the United States, and has threatened to stop production of Apple’s popular iPad tablet computer if the money is not repaid immediately.
See all stories on this topic »

Law would fly the flag for US manufacturing
Cincinnati.com
So, imagine finding a “Made in China” sticker on the symbol of our nation: the American flag. Recently, the US Senate took a small, but significant, stand for American manufacturers by passing a bill I authored that would ensure taxpayer funds aren’t
See all stories on this topic »

India, China May Gain From U.S., Europe Problems, Adenwala Says
Bloomberg
”Countries like India and China could emerge winners out of the problems that are being faced in the West. The overall sentiment towards emerging markets could start turning favorable. ”I would not be surprised if we see higher inflows in India and
See all stories on this topic »

Tools to Build the USChina Economic Relationship
Heritage.org
Policymakers from both parties frequently point to the seemingly exceptional importance of China to the American economy, yet have created an inadequate, almost random, set of institutions to guide bilateral economic relations.
See all stories on this topic »

US women wallop China in volleyball Grand Prix
AHN | All Headline News
The United States, which twice lost to China in the recent Montreux Volleyball Masters, got back at their Chinese counterparts, 25-20, 25-17 and 25-16 Sunday. The American contingent finished Group D play 3-0 and will travel next to Japan for Week 2 of
See all stories on this topic »

Senior China Daily journalist dies suddenly at 54
China Daily
Throughout her three decades with China Daily she always worked on the frontline,” he said, adding that Li “spearheaded the launch and expansion of China Daily US Edition”. Li was also the paper’s chief US correspondent at the time of her death.
See all stories on this topic »

No China Firm Debuts on US Stock Market in July
Middle East North Africa Financial Network
Besides, those investors’ worries about China’s economy as well as the Internet bubbles may affect the overall evaluation of Chinese concept stocks.” “Whether Chinese concept stocks can walk out of the crisis will mainly depend on their performance in
See all stories on this topic »

Chart of the Day: why China blames US military for S&P downgrade
Citywire.co.uk
by Chris Marshall on Aug 08, 2011 at 11:27 ‘Now is the right time for the United States, trapped in economic hardship, to reflect on its domineering thinking and deeds,’ went a commentary from official Chinese state media voice Xinhua.
See all stories on this topic »

A Tale Of Three Thefts: China, Russia, And The US
Forbes
The denial of the rule of law for the few may affect the economic actions of many. In December of 2006, Gazprom, the Russian energy monopoly, “accepted” control of Sakhalin-2 from Royal Dutch Shell ( RDSA – news – people ). Sakhalin-2 is a drilling
See all stories on this topic »

Britain, other eurozone countries face ratings cut
Reuters
the US has been downgraded,” Rogers said in an interview with Reuters Insider. Rogers, who co-founded the Quantum Fund with George Soros in the 1970s, is a well-known investor and public speaker known for his bullish views on commodities and China.
See all stories on this topic »

Russia may lose billions due to US rating downgrade
RIA Novosti
Standard & Poor’s downgrade of the US rating from AAA alarmed China and India, while Russia claims the move is not dramatic. But independent economists say Russia has lost part of its reserves due to the weakened dollar and may stand to lose more if
See all stories on this topic »

Octabuoy platform coming together in yards in China, US, says operator ATP
Offshore Oil and Gas Magazine
Platform topsides are under construction in China (the utility module) and the US (the processing module). Once the latter is completed, it will be shipped to China to be joined with the utility module. The hull and topsides will then sail to Norway
See all stories on this topic »

China must punish US for Taiwan arm sales with ‘financial weapon’
China Daily
US treasuries will lose value if China stops or reduces its purchases of them on a large scale, which will also affect the value of China’s US treasury holdings. However, as the situation has gotten out of hand, allowing Washington politicians to
See all stories on this topic »

China’s Aircraft Carrier: Why It Matters
Huffington Post (blog)
But if China’s leaders are simply using the “peaceful development” banner as a cover to acquire the military needed to displace the US in the Pacific, that’s a shame — because the precedent of a 21st century nation rising peacefully would be hugely
See all stories on this topic »

Impact of US debt downgrade
Reuters India (blog)
China is really the US production shop set up to keep production input costs as low as possible in an attempt to stem inflation and migration. Seen in a different way, the US and China are really two parts of one economy separated by sovereign borders
See all stories on this topic »

China Yuchai International Announces Unaudited Second Quarter 2011 Financial
MarketWatch (press release)
In the second quarter of 2011, net profit attributable to China Yuchai’s shareholders was RMB 155.1 million (US$ 24.0 million), or earnings per share of RMB 4.16 (US$ 0.64), compared with RMB 179.1 million (US$ 27.7 million), or earnings per share of
See all stories on this topic »

White Gold, Black Gold and China’s Energy Crisis
Seeking Alpha
If fair cost of energy is US$0.15 per kwh, then the fair cost of PGM metals should be at least $2100 per ounce. So the best way to leverage on China’s energy crisis due to shortage of the black gold, the coal, is surprisingly in metals that South
See all stories on this topic »

Perfect World Provides Update on Share Repurchase Program
MarketWatch (press release)
changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere. Further information regarding these and other risks is included in Perfect World’s filings with the US Securities and Exchange Commission,
See all stories on this topic »

Debt Deal Downgrade and China: Two Great Debt Questions for Our Time
DBKP – Death By 1000 Papercuts
America owes China money and American debt has been downgraded. Seems simple enough to understand, yet there are two aspects that seems to have escaped media scrutiny. Having once run a company that had some large customers that declared bankruptcy,
See all stories on this topic »

Shrinking markets have world on edge
China Daily
China, the largest foreign holder of US debt, has yet to comment officially on the downgrade. But some economists have expressed concern about the worsening debt situation in the US and Europe. Chen Daofu, an economist with the Development and Research
See all stories on this topic »

Exclusive: Somali pirate ransoms skirt US directives
Reuters
“The seized ransom at Mogadishu airport was ours and we will withdraw the agreement if China doesn’t pay the agreed ransom within 10 days. It is none of our business whether it is seized or not,” the pirate told Reuters. The Yuan Xiang, seized on
See all stories on this topic »

Central Bankers Confront Decision on Which Risk Scares Them Most
San Francisco Chronicle
8 (Bloomberg) — Central bankers from the US to China may have to decide which is their worst nightmare: the Great Inflation of the 1970s or Great Depression of the 1930s. As stock markets slump worldwide and the global economy sputters,
See all stories on this topic »

GreenTech Plans for MyCar Production in US, China
EV World
MCLEAN, VA — Terry McAuliffe, chief of GreenTech Automotive in McLean, is in China this weekend, announcing a venture with Shengyang Zhongrui Investment. A plant in Inner Mongolia will have the capacity to build 300000 cars per year with components
See all stories on this topic »

JA Solar Announces Share Repurchase Program
MarketWatch (press release)
SHANGHAI, China, Aug 8, 2011 (GlobeNewswire via COMTEX) — JA Solar Holdings Co., Ltd. /quotes/zigman/104689/quotes/nls/jaso JASO -12.62% (“JA Solar” or “the Company”), one of the world’s largest manufacturers of high-performance solar cells and solar
See all stories on this topic »

US puts a new man in Myanmar
Asia Times Online
To this end, China is helping to construct a deep-sea port on Myanmar’s western coast and building dual gas and oil pipelines to connect the port with its southwestern city of Kunming. In recent years, the US has bid to improve relations with various
See all stories on this topic »

Manchin Invest in America
PoliticalNews.me (press release)
Washington, DC – Emphasizing that this nation’s efforts should be focused on rebuilding America, US Senator Joe Manchin (DW.Va.) joined a bipartisan group of his Senate colleagues in a commonsense call to end US development aid to China,
See all stories on this topic »

Honda Will Recall 2.5 Million Cars Worldwide To Fix Transmission Software
Inside Line
NHTSA said the US recall affects 1512107 Honda cars in the US In China, the recall covers the Accord, the Odyssey and the Spirior, the Chinese-built version of the Acura TSX and European Accord. Inside Line says: Honda said it would begin notifying US
See all stories on this topic »

China Battle Ready…for Miss Universe
Forbes (blog)
Luo, incidentally, recently met Miss USA, Alyssa Campanella, and they seem to have hit it off. If pageant officials approve, Miss China and Miss USA will be roommates for the three weeks they’ll be in Brazil leading up to the Miss Universe final
See all stories on this topic »

What the World Is Saying About the US Debt Downgrade
The Atlantic Wire
This is conducive to China’s steady economic growth because the United States is one of China’s most important export markets and is also conducive to the security of China’s US dollar assets and keeps the exchange rate of the RMB against the US dollar
See all stories on this topic »

As US stumbles, companies invest in consumer growth overseas
Los Angeles Times
Inc., the New Jersey pharmaceutical giant, announced plans to eliminate as many as 13000 positions by 2015, up to 40% of them in the US The rest will come in Europe and other countries, but not in fast-growing markets such as China and India — where
See all stories on this topic »

What’s The Scoop? Jardine With Team USA
SUAthletics.com
The group is in final preparations for the competition in China. by Scoop Jardine What’s up everybody? Today I’m checking in from Colorado Springs, home of the US Olympic Training Facility and training camp for the World University Basketball Team.
See all stories on this topic »

CFR.org Roundup: World leaders respond to US downgrade
CNN (blog)
Following Standard and Poor’s downgrade of US debt, China’s official Xinhua news agency called for”international supervision” (FT) over the issue of US dollars, for the United States to live within its means, and for the country to ensure the safety of
See all stories on this topic »

America’s Workers Get Stiffed
Daily Beast
Between 2003 and 2008, US companies more than doubled their employment rolls in China. In the past decade, some 42000 factories closed in this country. One third of all manufacturing jobs in the US have disappeared. As profit margins get tighter in
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: