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U.S. China News 2011.08.17

Wed, August 17, 2011

A Bid to Boost USChina Relations
Council on Foreign Relations
Some inside China are calling for diversifying China’s investments and suggesting new ideas to wean China off US government debt. One idea that appears to be gaining traction in Beijing, reports Reuters, is to loosen restrictions on Chinese businesses
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Chinese tour holds promise for Arkansas, US rice
BusinessWeek
Yielding hopes the September visit by officials from two Chinese inspection agencies will persuade China to accept American guarantees about its crop’s safety. China has placed barriers to US rice because the country wants to guarantee that there are
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China denies seeing US helicopter
BBC News
China has denied a report that Pakistan gave it access to the wreckage of a US “stealth” helicopter used in the covert raid to kill Osama Bin Laden in May. “Those reports are entirely groundless and very ridiculous,” the Chinese defence ministry said
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Loong Says U.S.China May Reach Deal on Market Access
Washington Post
17 (Bloomberg) — Pauline Loong, senior vice president and political analyst at CIMB Securities (HK) Ltd., talks about US Vice President Joe Biden’s visit to China and relations between the two countries. Loong also discusses China’s currency policy,
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US Investment In China Slows Down
Business Insider
US investment in China has fallen 19.7%, and US foreign direct investment (FDI) during January to July fell to $1.94 billion, according to China Daily. Meanwhile, the rate of US companies setting up businesses in China fell to 844,
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Evo Morales predicts US will become colony of China
Examiner.com
According to a today’s report in a Russian financial news site, Bolivian President Evo Morales declared that the United States will turn into one of China’s colonies, as in the United States of China (PRC). Anti-American rhetoric is not new for the
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Bank Of China Chairman: US Should Refrain From Launching QE3
Fox Business
BEIJING -(Dow Jones)- The US should refrain from launching a third round of quantitative easing and tighten its monetary policy to raise the world’s confidence in the US dollar, Bank of China Ltd. (3988.HK) Chairman Xiao Gang said.
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Photo of US China ambassador carrying own bag goes viral
Telegraph.co.uk
An innocuous photograph of Gary Locke, the new US ambassador to China, carrying his own backpack and ordering his own coffee at an airport has charmed Chinese citizens not used to such frugality from their officials. Mr Locke tried to use a coupon or
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China’s YouTube’ Tudou raising $174M in US IPO
VentureBeat
The site provides its users with access to movies, TV shows self-produced content and user-generated videos — although, most US visitors probably know it best as a place to catch illegally streaming programs. Tudou, which is China’s second largest
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China Flexes, the US Fades, and Asian States React
theTrumpet.com
One Thai official expressed alarm over China’s surging influence in Thailand, saying, “China will own us! Thailand will be like a vassal of China.” But Thailand’s swing toward Beijing in recent years indicates that the majority of Thai policymakers
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The Economy: Is China Better Than the United States?
Christian Post
Even then presidential candidate Barack Obama had asked Americans why the United States wasn’t emulating Beijing’s policies. A Reuters economic specialist and blogger, Derek Scissors, believes that this fear of China surpassing the United States as the
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Stop worrying about China and US Treasuries
FT Alphaville (blog)
For this reason it is absurd to worry that China might stop buying USG bonds. On the contrary, the whole USChina trade dispute is indirectly about China’s insistence on purchasing USG bonds and the US insistence that they stop.
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‘Made in China‘ backlash
NECN
(NECN: Mary Snow) – There has been plenty of backlash in the US against buying goods with the label “Made in China.” But a new report shows that most of the money tied to those products is winding up in American hands. It seems that most products we
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What explanation does US need about China’s aircraft carrier?
People’s Daily Online
Is China’s aircraft carrier invisible or miniature? Since you know where it is, why did you say it is not transparent? On the contrary, when US aircraft carriers were sailing in the coastal waters of China or the US high-altitude spy planes were
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Rise of China state-owned firms rattles US companies
Reuters Africa
In Fortune magazine’s 2011 list of the 500 largest companies, the United States leads with 133, four more than Japan’s 68 and China’s 61 combined. But a glance back at the 2005 list would give Hu more of a reason to smile. That year China had just 16
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China increases US Treasury holdings
Kuwait News Agency
China added to its holdings by USD 7.6 billion in April and USD 7.3 billion in May, according to data from the US Department of the Treasury. As the largest creditor of the US, China has been closely watched for its investments in dollar assets,
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From China To The US: Student Juggles Two Worlds
NPR
A couple of months ago, I went back to China for the first time since before I started college in the US It was my first trip home in two years. When I saw my parents and grandmother at the airport, I felt awkward. I didn’t really know what to say to
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US credit crisis shocks Chinese consumers
AFP
The US credit crisis has brought to light a fundamental difference between thrifty consumers in China — the largest foreign holder of US debt — and their credit-loving US counterparts. After Standard & Poor’s downgraded Washington’s top notch credit
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Wizard 101 game to enter China in TaoMee deal
Reuters
By Liana B. Baker NEW YORK (Reuters) – KingsIsle, the US maker of the popular online game “Wizard 101,” is coming to China through a partnership with TaoMee Holdings, a publicly traded Chinese company that runs websites for children.
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Security Expert: US Should Be Wary of China Space Exploration
NewsMax.com
Cheng cautions it is important to note that “China gave no prior notice of any of these tests, which has heightened concerns and underscored the opaque nature of China’s space program.” Increasing Chinese space efforts and their subsequent successes
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Painter’s team advances to medal round at World University Games
Journal and Courier
SHENZHEN, China — Team USA earned the top seed from Group D with a 124-64 win over Finland on Wednesday in the World University Games. Alabama’s JaMychal Green had a team-high 21 points for the US, which outrebounded Finland 47-27, including 22
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US debt remain the safest place for China reserves-top banker
Dice News
In spite of Standard & Poor relegating the US debt by a score, as far as China is concerned the safest place for putting part of its enormous foreign exchange reserves is still the US Treasury market, according to Chairman, China Construction Bank,
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Rift Between China and US
CountingPips
If this proves to be true, or if the United States posture against China because they believe they are under attack the USD will see a lot of trouble on the online forex exchange. China and the United States do enjoy a very close relationship when it
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Obama forfeits respect in Asia by letting Taiwan down – hard
Christian Science Monitor
Vice President Biden is expected to apprise China of the US decision to deny F-16 fighter jets to Taiwan. The dire implications of this should not be played down. It leaves Taiwan vulnerable and the US underpowered in Asia, as Washington looks to be
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US watchdog sees more meetings on China audits
Reuters
NEW YORK (Reuters) – US regulators may meet in October with their Chinese counterparts to work on protocols for joint inspections of Chinese audit firms, the head of the main US audit watchdog group said on Wednesday. Chinese companies have been
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US OPENING NEWS INCLUDING: China will basically maintain its existing monetary
Proactive Investors UK
Moving into the North American open, the economic calendar remains thin, however markets look ahead to the PPI and DOE inventories reports from the US later. PBOC’s adviser, Li Daokui, said China will basically maintain its existing monetary policy
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US Panel Maker: Too Hard To Compete With China
RenewableEnergyWorld.com
“Right now, prices from China are extremely attractive,” said Ed Wegener, Solon’s Vice President of PV Products for its American division. “There are structural advantages that the Chinese have that will keep a spread between the Chinese and US
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Palma grad Johnson helps US win in China
The Salinas Californian
The US men’s basketball team improved to 3-0 in World University Games in Shenzhen, China on Tuesday, with the help of Palma High graduate Orlando Johnson. With 12 players scoring in double figures, US beat South Korea 112-68 in the 24-country
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Strong US, China demand boosts VW sales
The Detroit News
China, VW’s biggest single market, accounted for sales of 991000 vehicles in the first seven months of 2011, a 22 percent rise over last year. VW is the biggest brand in the Wolfsburg, Germany-based Volkswagen group, which also sells vehicles under the
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Two Ways to Profit From Rare Earth Elements Despite China’s Stranglehold
Seeking Alpha
Gradually, over a 20-year period, China slowly ramped up its production, cut its REE prices and drove the US REE miners out of business. It appears as though Washington bureaucrats are finally recognizing the severity of the situation.
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China Vesting Issues Update on China Direct Industries, Inc.
MarketWatch (press release)
China Direct Industries, Inc. expects revenue for the full 2011 fiscal year to exceed $200MM with net income of $12MM. China Vesting researches 500 of the top US Listed Chinese Public Companies and tracks the best 100 with state-of-the-art performance
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China’s economic policy in a league of its own
MarketWatch
Still, recent market shocks in the United States and Europe were impossible to ignore for China’s economic policy makers. Shanghai stocks may be doing well, but it appears the government still has work to do in balancing external factors with ongoing
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China is rising economic power, as U.S. slowly falls
Vineland Daily Journal
In China’s foresight, it saved as we’ve spent. The Chinese invested our money with meticulous care. As it stands, China is our largest exporter and our largest foreign creditor. As of July 2011, each registered citizen in the US owes $47000 to pay off
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ASEAN faces a Chinese dilemma
The Japan Times
China has become the largest trading partner of ASEAN and its second largest export market, while ASEAN since April has replaced Japan as the third biggest trader with China after the EU and the US China is a beacon of both rising economic and military
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US has not decided on sale of F-16s to Taiwan
Fort Worth Star Telegram
For years under Presidents Barack Obama and George W. Bush, it has been US policy to deny sales of new F-16s to Taiwan out of consideration for USChina relations. Under the Taiwan Relations Act, the US decides what defense systems the Taiwan
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Kowtowing to the Chinese on human rights won’t earn their respect
The Australian
His overall strategic judgment is sound: “There should be no doubt the US and China are in the initial stages of a serious strategic competition.” The balance in Pyne’s speech which is so attractive is that he recognises and praises the good,
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Transcript: My Interview With Donald Trump, Part 2
ABC News (blog)
A lot of skepticism about the— DONALD TRUMP: No, I’m onto other things like jobs, like China ripping us off, like OPEC. But it was sort of strange that all of a sudden, at — for years and years he wouldn’t produce it. Then all of a sudden when I put
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U.S. electric car company teams up with China
Autos.ca
Los Angeles, California – A California-based electric car and battery company has entered into an agreement with China’s Great Wall Motor Company to develop electric vehicles for worldwide distribution. CODA Holdings, a developer of advanced
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Triathlete in 2nd year of competing clinches U.S. Olympic spot; more Olympic notes
SI.com
Brian Olinger, a converted steeplechaser, took fourth as the top US male finisher. China made it a clean sweep of the World Badminton Championships in London last weekend, taking gold medals in all five classes for the first time.
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Detroit Mercy’s Ray McCallum leads US to University Games win
The Detroit News
Detroit Mercy’s Ray McCallum scored nine points and handed out two assists on Wednesday in Team USA’s 124-64 victory over Finland at the World University Games in Shenzhen, China. Michigan State’s Draymond Green had six points and nine rebounds as the
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After US Downgrade, Chinese State Media Pounces
The Epoch Times
7 that according to the figures published by the US Treasury, China holds US$ 1.16 trillion worth of American debt, so the downgrade will potentially result in a loss of about US$300 billion to China. Chen Shuqing held that, “The US credit rating
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Admission of Indian students for graduate-level studies in US increases by 8
Economic Times
WASHINGTON: The number of Indian students coming to the US for graduate-level studies has increased by eight per cent from 2010 to 2011, while those from China topped the list with a record rise of 23 per cent, according to a latest report.
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China calls for effective measures to contian oil spills
China Daily
BEIJING – China’s maritime authority on Wednesday once again urged ConocoPhillips China, a subsidiary of the US-based oil company ConocoPhillips, to take effective measures to contain oil spills and clean up oil-contaminated mud in the Bohai Bay before
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E-House sees Q3 revenue above Street view
Reuters
The Shanghai, China-based company’s ADSs closed at $6.66 on Tuesday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Maju Samuel) (divya.sharma@thomsonreuters.com; within US +1 646 223 8780; outside US +91 80 4135
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Venezuela May Move Reserves From US to ‘Allied’ Countries, Says Lawmaker
Bloomberg
China has lent Venezuela as much as $32 billion since 2008 to finance infrastructure and social development projects. The South American country, in turn, ships more than 200000 barrels of oil a day to China to repay the loan.
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