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U.S. China News 2011.08.09

Tue, August 9, 2011

US‘ Geithner, China’s Wang discuss markets, economy
“Secretary Geithner and Vice Premier Wang spoke by telephone today about both the US and China, as well as challenges facing the global economy and the state of global financial markets,” the statement read. Chinese state media have unleashed a barrage
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China calls on US, EU to address fiscal deficit
Published on Tue, Aug 09, 2011 at 21:49 | Source : PTI Expressing concern over downgrading of America’s credit rating, China, the largest holder of its debt has asked US and EU to take concrete fiscal and monetary steps and check fiscal deficits to
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US debt downgrade leaves China in a bind
Los Angeles Times
(Reuters / August 1, 2011) By David Pierson and Don Lee, Los Angeles Times The downgrade of US government debt has put China, the United States‘ largest creditor, in a tough spot. Though Beijing has scolded the United States over “its addiction to
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Analysis:Chinese swagger over U.S. distress could sour relations
By Don Durfee and Chris Buckley BEIJING (Reuters) – America’s debt troubles have triggered a burst of popular anger and swaggering self-confidence in China that, if unchecked, could complicate the broader USChina relationship, making it harder for
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Analysis: Rejection in China a Shock to US Auditing Regulators
Business Insider
But the two sides failed to reach an agreement to allow joint inspections in China, with US and Chinese inspectors working together to audit Chinese firms. The Public Company Accounting Oversight Board (PCAOB) Chairman James Doty has previously called
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Recession 2011: Inflation surges in China amid US downgrade worries
Economic Times
The new data came in the midst of growing concerns in China over the downgrade of US long term debt, in which China has big stakes as the largest creditor. China holds about USD 1.6 trillion worth of US debt, amounting to about 26 per cent of the total
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China Times: Risk of new US recession emerging
Focus Taiwan News Channel
First, there has been a wax and wane of America and China’s economic power. The US‘ loss of the highest AAA rating signifies that its economic power is gradually declining. On the other hand, China — America’s largest foreign creditor — is becoming
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China and US lead the way as InterContinental gains
Evening Standard
In China, revenue per available room (RevPAR in the industry jargon) was up 13%. Just last week IHG signed deals on five new hotels in China. In America, RevPAR was up 8%, seen as indicating that business people are hitting the road in search of sales.
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China NDRC Official: US QE3 Will Push Up Commodity Prices
BEIJING -(Dow Jones)- The implementation of a fresh round of quantitative easing by the US may push up commodity prices and raise speculative fund flows, a senior official with China’s top pricing regulatory agency was quoted as saying in a report
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CHINAUNITED STATES – ASIA China sees its own downfall as US credit enters
Spero News
The People’s Daily and Xinhua publish harsh commentaries about US politicians, their useless democracy, and US military adventurism. They are also a sign of fear that, as the US dollar goes, so will China with its US$ 1.16 trillion in US treasury bills
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China stocks dive amid US woes
China Daily
By Li Xiang (China Daily) BEIJING – Chinese equities plunged on Monday as the US credit rating downgrade jolted financial markets amid fears that the global economy may be heading back into recession. The benchmark Shanghai Composite Index suffered its
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U.S., Mexico Accuse China of Protectionism Over Rare Earth: 21st
San Francisco Chronicle
9 (Bloomberg) — US and Mexico have jointly submitted a memorandum of understanding to the World Trade Organization accusing China of protectionism in its rare-earth policy, the 21st Century Business Herald reported today, citing Gan Yong,
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Now, China says it suffered hacking attacks from US, India
Daily News & Analysis
China’s claim followed a report by US-based security firm McAfee which said hackers were found to have broken into networks of the 72 major organisations around the world, including the governments of India, US, South Korea, Vietnam, ASEAN,
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Asia advised to watch China’s debt, not US downgrade
Radio Australia
Monday saw steep falls on Asian markets on the back of the US credit downgrade and concern over American and European debt levels. But should China’s debt also be of concern? MARTIN: The US is still the world’s biggest economy, and while it’s not been
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What will Vice President Biden find in China?
CNN (blog)
Combine that with other tensions in the relationship—not least in Asia, on everything from US arms sales to Taiwan to the South China Sea—and the US and China are likely to face a period of greater security tension. The views expressed in this
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U.S. girls win medals in China math contest
San Jose Mercury News
Team members wrote a travelogue about their trip and the contest, available at Since their first invitation in 2007 to compete in China, the US team has won medals every year.
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Kizer, World Univ. Team Head for China
Potomac High School) and Team USA depart for China this week to play in the 2011 World University Games. Kizer and the 12 other members of the team spent the last few days practicing at the US Olympic Training Center in Colorado Springs, Colo.
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Debt crisis a wakeup call to China’s foreign debt holdings
China Daily
Rather than face two demons at a time, China has selected the lesser evil. The ambivalence harbored by China toward the US debt issue has also revealed a dilemma about the nation’s debt relationships. Lending huge chunks of money to one single country,
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China central-bank adviser sees U.S. QE3 coming
By MarketWatch BEIJING (MarketWatch) — The world is likely to see a third round of quantitative easing in the US soon, but the possibility of the US economy suffering a double dip isn’t big, People’s Bank of China adviser Li Daokui said Tuesday.
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China Yuan Up Late On Higher Inflation, Dollar Weakness
Wall Street Journal
SHANGHAI (Dow Jones)–China’s yuan rose against the US dollar late Tuesday after data showed Chinese consumer inflation ticked higher and as speculation of another round of monetary easing by the US broadly weakened the dollar. On the over-the-counter
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China tells US it’s the spending stupid
Washington Times
Photo: AP CHICAGO, August 8, 2011 — “The US government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone,” according to an item in China’s official
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Retail Stores
With a US lawsuit over fake Apple retail stores in its infancy, officials in Beijing have taken steps to keep lookalike Apple retail stores in the region from fooling passers by. China Daily reports that the city is making a concerted effort to keep
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China ADRs Rise First Time in Six Days on Stimulus Speculation
By Belinda Cao – Tue Aug 09 13:58:16 GMT 2011 China’s American depositary receipts rose, ending five days of declines for the benchmark index, on mounting speculation the Federal Reserve may signal plans to bolster the economy.
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Russia Will Maintain Existing U.S. Dollar-Denominated Investment Levels
International Business Times
Russia’s stance has been more-diplomatic that the world’s other major power, China. China, the US’s largest creditor with $1.2 trillion invested in US Government bonds, sent a communiqué critical of US following the S&P downgrade.
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Yahoo Discount to Alibaba Means U.S. Web Portal Free in Takeover: Real M&A
Inc.’s strategy in China after Alibaba Group Holding Ltd., party owned by Yahoo, spun off its online payment business in August without informing shareholders. Bloomberg’s Jon Erlichman also spoke on Bloomberg Television’s “Bloomberg West” yesterday
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American Lorain Corporation Schedules 2011 Second Quarter Financial Results
Sacramento Bee
Listeners may dial: American Lorain Corporation products include chestnut products, convenience food products and frozen food products. The Company currently sells over 234 products to 26 provinces and administrative regions in China as well as to 42
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Not China, not S&P: why the US has only itself to blame
The Conversation
If the United States thought it could stave off its day of reckoning, it was wrong. Standard & Poor’s prompt downgrade of US credit worthiness late Friday sent stock markets worldwide into a nosedive that has continued today. Simply increasing the US
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West ‘ignoring responsibility’ on debt: China
BEIJING — China accused Western nations Monday of putting the global economic recovery at risk by “ignoring their responsibility,” in an editorial published days after an unprecedented US credit rating downgrade. The criticism in the People’s Daily
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Debt do us part
Times of India
And the most potent and profitable idea – some would call it a mirage – the US produced was the idea of the almighty dollar, the currency in which all the world’s trade is conducted. While countries like China kept the US well supplied with goods,
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Amid Chinese Barbs on US Debt, Some Grumbles at Home
TIME (blog)
But that sentiment is tinged with criticism, unheard in the domestic press coverage, that the Chinese government bears responsibility for placing so much faith and foreign reserves in the hands of the US China’s role as the largest foreign creditor of
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How American Companies Can Plug Into the Chinese Rocket-Propelled Economy
SBWire (press release)
China Leaders Forum 2011, “How American Companies Can Plug into the Chinese Rocket-Propelled Economy?”, Conference Hosted by Golden Networking in New York City New York, NY — (SBWIRE) — 08/09/2011 — Would it be wise to short an economy with $US 3
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Nations team up to refine goods
China Daily
“Improving the quality of goods is a concern for both China and the US, and we would like to develop channels on enhancing win-win cooperation with the US on issues of product quality,” said Wen Zhongliang, deputy director-general of the department of
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China Holds $1.1 Trillion of US Debt (video)
by Kristina C. The downgrading of the US’s S & P credit rating from AAA to AA+ had shown the limelight on something that has been known but perhaps not sufficiently acknowledged, China’s vast foreign holdings. China has $3.2 trillions-worth of foreign
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Wall Street Journal
Mindray Medical International Ltd.’s (MR) second-quarter profit rose 6% on strong revenue from China and other emerging markets. Oasis Petroleum Inc. (OAS) swung to a second-quarter profit on surging oil prices and continued production growth.
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S. Korean security adviser heads for US
The six-party talks on the North’s nuclear disarmament, grouping the two Koreas, the United States, Japan, China and Russia, have been at a standstill since December 2008. Pyongyang stormed out of the negotiations in April 2009 and conducted its second
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U.S. credit already downgraded in China
HSH Financial Publishers (blog)
It lowered the US rating on August 2, 2011 “from A+ to A with a negative outlook.” As the most influential founder of China’s credit rating industry and market, Dagong has all franchise qualifications granted by the Chinese Government,
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Alfred University alumnus receives Fulbright Student Award to study in China
New York State College of Ceramics
Mark R. Hursty, who graduated from Alfred University in 2008 with a Master of Fine Arts degree in sculpture/dimensional studies, has been awarded a Fulbright US Student Program scholarship to study sculpture in China. The awards were announced by the
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China Direct Industries Announces Conference Call to Discuss Financial Results
MarketWatch (press release)
9, 2011 /PRNewswire via COMTEX/ — China Direct Industries, Inc. (“China Direct Industries”) /quotes/zigman/112347/quotes/nls/cdii CDII +8.04% , a US-based holding company with operations in China and the US focusing on pure magnesium production,
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Tea party bullies
Lawrence Journal World
Germany is the world’s third-largest exporter, after China and the United States (and closing rapidly on the No. 2 spot). By forming a free trade zone, the Germans created captive markets for their goods. During the prosperity of the first 20 years or
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China and the Anticipated Commodities Collapse
Seeking Alpha
No sooner than global financial markets participants “catch their breath” from the ongoing turmoil in European and US markets, investors and speculators will soon turn to worrying about how the economic slowdown in Europe and the US will affect China’s
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Downgrade Weakens US Stature Abroad
China bought US assets in part to hold down the value of its own currency, the yuan, and so prop up its exports. “No one has been forcing the Chinese to accumulate US assets,” Tilford says. Walter agrees that China and other countries that have been
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Survey: China decimating CT mfg.
Hartford Business
Of the survey respondents, 57 percent said their business would improve if the US addressed China’s currency manipulation. Murphy used the results of the survey to promote some of his legislative initiatives, including the Buy American policies
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Hay Cheaper to Ship to China Than California Hits Dairies: Freight Markets
Photographer: Aaron Packard/Bloomberg US hay, the country’s third-largest crop by value, is now cheaper to ship to China than to farmers in central California, compounding shortages that mean record prices for the dairy industry.
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Africa: Debt Deal – From Public Discourse to Political Disco
Residing in the global manufacturing powerhouse, the Chinese manufacturer is highly dependent on the trade balance between China and the US. The Chinese government owns much of the American debt, and its profitability would heavily depend on the
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