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U.S. China News 2011.08.24

Wed, August 24, 2011

Insight: US gets rare chance to size up China’s next leader
Reuters
US President Barack Obama wants to avoid misunderstandings by building personal relationships, and Biden’s visit to China was a down payment on that process. The two vice presidents met several times during Biden’s stay in China, which US officials
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Leaked cable shows dim US view of Harper’s early China diplomacy
Globe and Mail
Canada’s early efforts to re-engage with China amid a long diplomatic chill served only to “placate” Canadian business leaders while accomplishing little else of note, according to a US diplomatic note made public by Wikileaks.
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China overtaking U.S. as top market for PCs
San Francisco Chronicle
China probably overtook the United States as the largest personal-computer market last quarter, after three decades of American dominance in an industry pioneered by Apple and IBM Corp. Personal-computer shipments in China rose 14 percent to 18.5
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Naval Power Of China Draws U.S. Notice
Wall Street Journal
By NATHAN HODGE WASHINGTON—The US Defense Department released a long-awaited report on China’s military power Wednesday, after a year of new weapons breakthroughs by Beijing. In some respects, the report is a reprise of previous assessments by the US
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Boot up: China’s PC market overtakes US, Windows Phone 7 – the (preliminary
The Guardian (blog)
“PC shipments in the China market have exceeded those of the United States in the second quarter of 2011 (2Q11). Approximately 18.5m units worth US$11.9bn shipped in China during the quarter, compared to 17.7m units worth US$11.7bn in the US China
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Reel China: US film producers are engaging the Chinese
Los Angeles Times
However, partnerships in China also mean US producers must work closely with the country’s Communist government and its censors. “There is a big difference between announcing a quick deal and forming a company in China with a solid business strategy
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China’s railway ministry selling yuan bonds up to US$15.6 billion
Manila Bulletin
By KANG XIZE and JASON SUBLER BEIJING/SHANGHAI (Reuters) – China’s Ministry of Railways plans to sell up to 100 billion yuan ($15.6 billion) in corporate bonds this year, three sources told Reuters, braving the market after a deadly crash raised
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Latin American Banks Cozy Up to Asia Amid Turmoil
CNBC.com
Business ties between China and Latin America had been growing rapidly long before the recent market volatility in Europe and the US China’s strong demand for natural resources in recent years has helped fuel Latin America’s growth. China is now one of
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Chinese prudence vs US recklessness
Asia Times Online
While the world increasingly questions Washington’s reliability, Beijing’s credibility is on the rise and, in the eyes of many analysts, China’s prudence balances America’s irresponsibility. China has more than US$3 trillion of foreign reserves and an
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Squaring the US, China, Taiwan triangle
The Japan Times
By DOUG BANDOW TAIPEI — Nothing causes greater discord in relations between the United States and China than the status of Taiwan, officially known as the Republic of China. However, the best way to maintain peace between Washington and Beijing may be
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Only 2.7% of US consumption is made in China
Economic Times
This implies that 88.5% of what US consumers spent on, went right back into the pockets of American manufacturers and service providers. Indeed, US trade numbers tend to exaggerate the outflows from the US to China. The most famous example, of course,
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Insight: Luxury retail not part of India’s success story
Reuters
An economy growing at nearly 9 percent has spurred more than 200000 millionaires, trailing only the United States and China. The total net worth of “ultra” high net worth individuals — defined by net worth of more than $5 million — is $1 trillion and
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Analysis: China allows slightly faster yuan gains
Reuters
downgrade of the US government debt rating earlier this month. “We do not think the faster yuan move means that China has moved away from the gradual appreciation and gradually more flexibility strategy,” said Tao Wang, China economist at UBS.
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China Tops US As The World’s Largest PC Market
Forbes
According to new data from International Data Corp., about 18.5 million units worth $11.9 billion shipped in China in the second quarter, compared with 17.7 million units worth $11.7 billion in the US China now was 22% of the global market,
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US Senator Proposes Back-Door F-16 Sale to Taiwan
Voice of America (blog)
The administration says it will decide by October whether to make the sale, which would almost certainly provoke an angry response from China. But published reports say US officials plan to offer Taiwan an upgrade of its existing jets instead.
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METALS-Copper rises after US data, dollar limits gains
Reuters
I would think that’s going to be shipped to China,” said an LME trader. But consumption remains far from robust, and niggling worries that China will not plug the gap left by struggling Western economies have cast a shadow over the near-term price
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China’s Renren signs agreement with Microsoft’s MSN
Reuters
Last month, Microsoft said it will partner with Baidu to provide Baidu with English-language search, giving the US software giant a chance to expand its tiny Web presence. China is the world’s largest Internet market by users with around 480 million
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NEC Deploys SAP Solution for the Agricultural Industry in Asia
MarketWatch (press release)
It is very significant for us to expand myAgri into China and Asia in collaboration with NEC, one of Asia’s leading companies and an important SAP partner.” Improved accuracy for planting, cultivation and harvesting practices, as well as greater
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Prudential Financial approved for China life insurance JV
Reuters
By Samuel Shen and Jacqueline Wong SHANGHAI (Reuters) – US financial group Prudential Financial (PRU.N) has received regulatory approval to set up a life insurance venture in China with a unit of Chinese conglomerate Fosun Group, accessing the
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GE, China Huadian partner on gas turbines
MarketWatch
By MarketWatch BEIJING -(MarketWatch)- State-owned power company China Huadian Group and US conglomerate General Electric Co. /quotes/zigman/227468/quotes/nls/ge GE +2.85% Tuesday signed an agreement to set up a joint venture to develop aeroderivative
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Free trade is destroying the American economy
Baltimore Sun
The jobs are in Bangalore, India and Guangdong Province in China. Infosys, with 130000 employees, and Wipro and Tata, all based in India, have destroyed the US software systems development industry. In China, with 900000 employees, Foxconn is the
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China invites children adopted to US to return to their roots
Public Radio International PRI
Despite the current political climate, the trips have little to do with USChina relations or China’s standing in the world. Rather, the government seems to want to welcome these children home. “It really has to do with Chinese pride and feeling,
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China builds bridges,US makes chopsticks to the Chinese’
Ceylon Daily News
US: “Made in China” is something you see on a lot of things for sale in America. But a company in Georgia has decided to turn the tables. It’s making and exporting chopsticks to the Chinese while China is building bridges elsewhere.
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BHP profits surge to record highs
AFP
SYDNEY — Global mining giant BHP Billiton said Wednesday its full-year net profit almost doubled to a mammoth US$23.6 billion, citing robust demand from China and India for what is Australia’s biggest ever result. BHP said the performance,
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Hanwha SolarOne Reports Second Quarter 2011 Results
MarketWatch (press release)
China declined to 4% versus 9% quarter-over-quarter, as pricing in that market was low relative to others. Other notable new markets were Canada and India, each with 4% of total shipments. Australia remained a consistently strong market for the Company
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Shanda Games Reports Second Quarter 2011 Unaudited Results
MarketWatch (press release)
Earnings per diluted ADS were RMB1.08 (US$0.17), compared with RMB1.06 in Q2 2010 and RMB1.10 in Q1 2011. Average Monthly Active Users (average MAUs) for all games operated in China were 24.0 million in Q2 2011, compared with 20.3 million in Q1 2011.
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China to Appeal WTO Ruling on Raw Material Export Controls
San Francisco Chronicle
Complaints against China by the US, European Union and Mexico were bolstered by the WTO ruling, after an 18-month investigation of Chinese quotas, export duties and license requirements on industrial ingredients such as coke, zinc and bauxite.
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China Sees Debt as a Way to Conquer America
NewsMax.com
GE through this deal will be a partner in building communist China’s first modern commercial airliner. This airliner, reported The Washington Post, “is likely to become a rival to aircraft produced by US-based Boeing and Europe’s Airbus.
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June Trade Data: A Worldwide Slowing Of Business Investment
Seeking Alpha
The June trade data, released August 11, by the Bureau of Economic Activity (BEA), showed both a slowing of worldwide business investment and an increased bleeding of US prosperity by China. The slowing of business investment was evidenced by the fact
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At US Universities, Confucius Institutes Import Discrimination
The Epoch Times
“They send them to us,” said Yan Yuzhou, who is an employee of Pace University. “You know, volunteers from China, the Chinese government has a right to ban them, I think.” Ms. Yan said that it was better to “increase an understanding of the culture”
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South China Sea on Agenda as Philippine President Heads to Beijing
Voice of America
The 115-meter BSP Gergorio Del Pilar’s primary duty will be to safeguard Philippine territorial claims in the South China Sea. In a speech Tuesday welcoming the 46-year-old Hamilton class cutter from the United States, Aquino reiterated the country’s
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Asia Carbon Releases Shareholder Letter
Sacramento Bee
Our commitment to quality and customer service continues to set us apart from competitors and makes Great Star brand one that our customers can rely on to help them manufacture superior products. This will be increasingly important as China’s
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Foreign-Policy Failure
The National Interest Online
In the longer run, China’s rise will clearly be a historic challenge to the United States. Yet, while administration officials talk frequently about China in domestic contexts, the president’s policy toward Beijing is fundamentally incoherent.
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WikiLeaks releases thousands of new cables
Washington Post (blog)
By Hayley Tsukayama WikiLeaks has released several thousand more cables it claims come from US embassies in China and Libya.WikiLeaks has released thousands of new cables that it claims come from US embassies in Libya, China and Taiwan.
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China Derangement Syndrome
Reason Online (blog)
In which case, China’s growth might slow down to a mere 5 percent. Assuming sustained respective 5 percent and 3 percent growth rates for China and the US for two decades, China’s total GDP would reach $16 trillion, not $34 trillion.
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China Construction Bank plans to raise US$12.5 bil. in yuan bond sale
英文中國郵報
SHANGHAI — China Construction Bank plans to raise 80 billion yuan (US$12.5 billion) through a yuan-denominated bond sale in Hong Kong, which analysts said Tuesday offered cheaper borrowing costs and strong demand. Yuan-related financial products have
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China’s love affair with the car shuns green vehicles
The Guardian
Almost half of the new growth is in China, which recently overtook the US as the world’s biggest car market thanks to the sales of 13.8m new passenger vehicles. Despite the surge in sales, car ownership in China is still only half the global average.
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Edward Zwick to direct Legendary East’s first project
Reuters
Media announced a deal with Chinese companies to co-produce films with Chinese material. Earlier this month, the Chinese media conglomerate DMG announced a $300 million film fund to co-finance American tentpoles that will be released in China.
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China’s COSCO Stiffs its Customers
Asia Sentinel
China has been needling the US over its government debt and the boss of its state-controlled rating agency Dagong, even accused Washington of default by encouraging devaluation against the Chinese yuan. But meanwhile one of the biggest Chinese-owned
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J. KARL MILLER: US nuclear arms are an unfortunate but necessary deterrent
Columbia Missourian
Five states — the US, Russia, China, England and France — are signatories to the Nuclear Proliferation Treaty. Three — India, Pakistan and North Korea — are nonsignatory members, and Israel is undeclared. Iran is known to be pursuing nuclear-weapon
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Orders for Durable Goods in U.S. Increase 4%, Twice as Much as Estimated
Bloomberg
The US consumer business “has gotten weaker for sure,” and federal contracts are taking longer to close, while markets like China and India are growing, he said. Overseas sales remain a backstop for some manufacturers. Deere, the world’s largest
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John Jenkins Helps Propel United States to 7-1 World University Games Record
Anchor of Gold
Vanderbilt shooting guard John Jenkins recently returned home to Tennessee after an eight-game stint with the US Basketball men’s team at the World University Games. The competition, held in Shenzhen, China, saw the Americans roll to a 7-1 record but
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