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U.S. China News 2011.08.23

Tue, August 23, 2011

China Overtakes U.S. as Largest Market for PCs
Bloomberg
By Bloomberg News – Tue Aug 23 08:45:47 GMT 2011 The value of computer shipments in China in the second quarter was $11.9 billion, compared with $11.7 billion for the US, IDC’s analyst Bryan Ma said today. The value of computer shipments in China in
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U.S Stock Futures Rise on Fed Stimulus Speculation, China Manufacturing
Bloomberg
Gains were also propelled by data showing China’s manufacturing may contract at a slower pace in August as the world’s second-biggest economy weathers slumping global confidence. A preliminary reading of 49.8 for a manufacturing index released by HSBC
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Copper Gains on Signs of Improving China Demand, U.S. Stimulus Optimism
Bloomberg
“This, together with strong growth in domestic refined output paints a robust picture of metal demand in China,” Gayle Berry, an analyst at Barclays Capital, said in a research report yesterday. “This buying is all the more impressive since it comes at
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China Brazenly Brags About Internet Attacks on US in Leaked Video
DailyTech
It seemed like just another Chinese propaganda video, designed to promote the fighting spirit of soldiers in China’s People’s Liberation Army and rouse anti-American sentiments. The Chinese narrator boldly proclaimed, “America is the first country to
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Biden Under Fire for ‘Not Second-Guessing’ China’s One-Child Policy
ABC News (blog)
Vice President Joe Biden is under fire for appearing to condone China’s one-child policy during a speech Sunday at Sichuan University in Chengdu. Addressing social and budgetary challenges faced by the US and China in the wake of respective population
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Food Safety in China, and the Risk to the US
Wired News
Except for one small detail: Chinese products don’t stay in China. They are traded around the world, and increasingly they are sold here. The permeability of the US marketplace to Chinese goods of uncertain origin should have been clear in 2007,
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China Construction Bank to Open US$150 Million Branch in Russia
2point6billion
23 – China Construction Bank (CCB) is going to open up a branch in Russia with a start-up investment capital of US$150 million, which will allow CCB to overtake the other two Chinese bank branches already working in Russia in capital volume.
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Oil up on equities rise, China and German data
Reuters
“Initially oil gained on the China PMI and German data, but it still showed slowing and the (US crude) move above $85 and even $86 didn’t seem to attract fresh buying, so trading is still choppy,” said Gene McGillian, analyst at Tradition Energy in
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India may have competitive edge over China: Top US think tank
Daily News & Analysis
chances than China in enhancing its competitive position in the next two decades as the country’s political-economic system provides an environment more conducive to entrepreneurial, innovative and inventive activity, an influential US think-tank
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Bunge: Accepting Syngenta’s Modified Corn Could Hurt Its China Sales
Wall Street Journal
According to press reports, Syngenta filed suit last week to block Bunge from banning a variety of its biotech corn because only 1% of the US corn crop will be exported to China this year. “Bunge’s decision not to accept Agrisure Viptera is consistent
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Analysis: China gas tax rebate may nudge spot LNG imports up
Reuters
In the longer term, China’s appetite for LNG imports could be stymied by the growth of unconventional gas including coal bed methane, shale gas and tight gas. But China has a lot of groundwork to do before it sees a US-style boom and experts say they
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China needs to diversify FX reserves -c.bank adviser
Reuters
BEIJING, Aug 23 (Reuters) – China should diversify its huge foreign exchange reserves into non-financial assets to hedge against risks from a long-term decline in the US dollar, Xia Bin, an academic adviser to the central bank said on Tuesday.
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NYMEX-US crude lifted by manufacturing data
Reuters
NEW YORK, Aug 23 (Reuters) – US crude futures rose on Tuesday, pushing above $85 a barrel as equities bounced on data from China and Germany that indicated slowing was not as bad as feared and as the dollar’s weakness also helped support oil prices.
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Is China Bad For The US Job Market?
Forbes
The more America buys from China, the less it is buying from similar goods manufacturers in the US And the US imports a lot of the same type of goods that it exports to China. “Is China displacing US jobs?” asks Scott Paul, executive director at the
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Photo of US ambassador causes a stir in China
Globe and Mail
“The word on the street these days, whether in Washington or Beijing, is that the United States is on the decline and China is on the ascent,” The New York Times says. “But it has taken nothing more than a cup of coffee and a backpack to show that
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TSX may open higher as China data supports miners
Reuters
US stock index futures rose sharply, tracking global equities that gained after gauges of Chinese and euro zone economic activity came in less gloomy than feared. [.N] * Autos featured among recovering European stocks as Chinese data showed the world’s
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US Stock Futures Advance following Encouraging Economic Data from China and
Beacon Equity Research
The US stocks futures are pointing upwards as the speculation is rife that Federal Reserve will bolster struggling markets through its supportive policies on Friday; besides, investors have also regained some confidence as the latest data from China
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Huntsman also talked about why United StatesChina is “the most important
CNN (blog)
How come, Piers, you didn’t ask him about his father’s business connections to China in terms of his success as our Ambassador and former trade rep? Seems to me with China’s tariff on us of some 20 per cent and ours on them only 2 per cent he could
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China’s power giant, GE build joint venture
China Daily
SHANGHAI – China’s power giant Huadian Group and US conglomerate General Electric on Tuesday signed a contract to set up a joint venture to develop aeroderivative gas turbines, core devices in distributed energy systems. Distributed energy systems
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Watch Out for China’s Air Force
Wall Street Journal
In any conflict with China, the US would rely on US airpower from the outbreak of hostilities. However, its aging F-15s and F-16s increasingly will be unable to match more modern Chinese counterparts, and even the far superior skills of US pilots can’t
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US STOCKS-Wall Street higher but gains seen as ephemeral
Reuters
While reads on China’s factory sector and German business activity pointed to slowing growth, the slowdown wasn’t as harsh as some had feared. For details, see [ID:nL4E7JN0JB] [ID:nL9E7I401I] The Dow Jones industrial average .DJI was up 36.18 points,
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Most Americans not open to buying cars from India, China: Study
Economic Times
Companies such as BYD (China), Chery (China) and Mahindra (India) have in recent years declared their intent to launch products in the United States, only to repeatedly delay their introduction. “Clearly, the time will come when cars arrive on our
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China threatens US blue waters
Khaleej Times
The mighty US Navy won’t say so publicly, but it’s increasingly worried by China’s development of new anti-ship missiles. The chief worry is China’s new DF-21D whose primary target is America’s huge aircraft carriers. According to Chinese sources,
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The latest news from the USOC – August 23
MiamiHerald.com
19 at the World University Games in Shenzhen, China. Earlier in the tournament, 2008 Olympian Kelci Bryant (Chatham, Ill.) won the silver medal in the women’s 1-meter competition on Aug. 16. The US women’s epee team won its second medal of the season
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Britain’s FTSE rallies on Bernanke hope
Reuters
By Joanne Frearson LONDON, Aug 23 (Reuters) – Britain’s top shares rose on Tuesday on hopes Federal Reserve Chairman Ben Bernanke would signal further stimulus measures to support the US economy, and China and euro zone PMI data were not as bad as
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US concerned about Vietnam detention of protesters
Reuters
Plainclothes policemen push a protester (L, in red) into a police bus during an anti-China demonstration in Hanoi August 21, 2011. HANOI (Reuters) – The US embassy in Vietnam voiced concern on Tuesday about the detention of dozens of people who held an
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Insight: China’s pacific accommodation with America
Jakarta Post
Talks of growing strategic rivalry between the US and China have gained steam among columnists, book writers, think tanks and strategic analysts. Themes of American imminent decline (“Post American World”, “Asia’s New Globalism”) are juxtaposed with
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Painter-led US team finishes 5th in China
Indianapolis Star
Purdue basketball coach Matt Painter led the United States to a fifth-place finish in the World University Games at Shenzhen, China, with an 86-83 victory over Germany on Monday. Trevor Mbakwe scored 21 points and had eight rebounds to lead the US,
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Georgetown basketball wraps up ‘unique experience’ in China with a win
Washington Post
to move beyond the enmity in the immediate aftermath of Thursday night’s melee between Georgetown and the Bayi Rockets in what originally was supposed to be the second game of a two-day event billed as the “ChinaUS Friendship Basketball Match.
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China doesn’t have the network to cope with renewable energy
Telegraph.co.uk
In the US, ethanol is powering almost 9pc of cars, up from 3pc in 2005. In fact, American petrol consumption has shrunk in that period by 121000 barrels a day. So far, however, ethanol has not been much used in China, which needs corn to feed people,
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Financial expert Bill Gramas points to China to explain US economic woes
The Doings Weekly
In his opinion, the root cause of today’s recession in America can be traced to 1994, when President Bill Clinton signed an agreement with China that, according to Gramas, affects the economy today. “In 1994, Clinton signed a USChina trade agreement,”
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H. J. Heinz Management Discusses Q1 2012 Results – Earnings Call Transcript
Seeking Alpha
We are also delighted with Foodstar, which we expect to help us reach almost 350 million in sales in China this year. We’ve owned Foodstar for 9 months now, and it’s grown more than 20% versus the comparable period in the prior year.
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Park hedges bets on North policy in US magazine
JoongAng Daily
Her decision to air her views in the US magazine has been interpreted as a water-testing move to see what reaction it provokes from Washington. Park cited the thawing of USChina relations in the 1970s and the peace accord between Egypt and Israel in
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Antofagasta posts profit jump, says copper underpinned
Reuters
L) doubled its half-year dividend after a 54 percent jump in earnings, confident that strong demand in China and a pickup in Japan and the United states would help underpin volatile copper prices. Copper is down over 10 percent this month, as investors
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HK Dollar Up Late On Stronger Local Equities
Wall Street Journal
HONG KONG (Dow Jones)–The Hong Kong dollar rose Tuesday against the US dollar as stronger manufacturing data in China improved risk sentiment to the benefit of Hong Kong’s share market. In late Asian trade, the US dollar was at HK$7.7977,
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China vice foreign minister frets about euro zone collapse
Reuters
“Though the West is experiencing difficulties, Europe and the United States have triumphed over many hardships in the past,” Fu said, according to a transcript of the interview released by the Foreign Ministry on Tuesday on its website (www.mfa.gov.cn)
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Fuel Tech Awarded Air Pollution Control Orders Totaling $8.9M; Includes SCR
MarketWatch (press release)
Two orders were received for ULTRA(TM) projects in China. The first and larger order, placed by an existing customer and one of the five largest power producers in China, is an award of ULTRA systems for two large retrofit coal-fired units.
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China joins shale gas hunt
Asia Times Online
China now relies more on imported oil than the United States. Its dependency ratio of foreign crude imports hit a record 55.2% in the first five months of this year, up from 55% in 2010 and 33% in 2009. The US’s dependence on imported oil is 53.5%.
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China Tops 2011 Index Rankings for Renewable Energy
RenewableEnergyWorld.com
By Renewable Energy World Network Editors Influential commentators in Japan, Germany, Russia, the US, China, Spain, Italy, Thailand, Yemen and numerous other nations have all weighed in on the need to de-emphasise nuclear and focus on renewables in the
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Airline CEO Panel and Keynote Speaker Former U.S. Treasury Secretary Henry
PR Newswire (press release)
Paulson also shared his view on the relationship between the US and China, stating the problems in US will be easier to solve if China continues to grow. United States Senator Michael Bennet (D-CO) also attended and toured the trade show floor which
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China Doesn’t Have a Plan
National Review Online
While they’re at it, they may as well kick sand in our faces if that will get us to go home more quickly. Joe Biden’s trip and the ChinaUS Basketball Friendship Match simply confirmed for the Chinese that attitude is what you need.
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King Would ‘Turn Over in Grave’ at Made-in-China Statue
NewsMax.com
Lei Yixin, a master sculptor from Changsha, China, was commissioned to carry out the work. “Critics have openly asked why a black, or at least an American, artist was not chosen and even remarked that Dr. King appears slightly Asian in Mr. Lei’s
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Suntech 2Q11 shipments up 48% on year
Digitimes
Suntech Power Holdings (Suntech), a China-based solar firm, has announced financial results for its second fiscal quarter ended June 30, 2011. Total net revenues for the second quarter of 2011 were US$830.7 million, compared to US$877 million in the
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