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U.S. China News 2011.08.25

Thu, August 25, 2011

China rises: US warns Beijing is expanding its military power
Telegraph.co.uk
The report estimated that China spent US$160billion (£98billion) on its armed forces and other military-related projects in 2010. That is nearly double its officially declared defence budget – but still far short of the US$700billion spent by America
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China’s US assets ‘safe,’ Biden tells students
Northwest Asian Weekly
By Christopher Bodeen AP CHENGDU, China (AP) — Vice President Joe Biden wrapped up a visit to China last Sunday that offered him extensive face-time with the country’s expected future leader, Xi Jinping, and delivered a strong message of US mutual
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US: China has strengthened nuclear missiles as deterrent against India
The Hindu
In its report to the US Congress, the Pentagon warned that the People’s Liberation Army had replaced the CSS-2 Intermediate Range Ballistic Missiles with its CSS-5 Medium Range Ballistic Missile systems. It also emphasised that China was further
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Chinese State TV Hints at Military Hack Attacks on US Websites
Fox News
That move followed a string of cyberattacks over the past few years on US targets including Google, Lockheed Martin and the Pentagon itself, which many US officials believe originated in China, though they have not so far offered evidence publicly to
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Emerging Stocks Climb on Fed Policy Outlook, U.S. Data; China Shares Jump
Bloomberg
The Shanghai Composite pared its loss this year to 6.9 percent after Bank of China said net income rose to 66.5 billion yuan ($10.4 billion) from 52 billion yuan a year earlier. ICBC said first-half profit jumped 29 percent to a record,
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China asks US to respect its domestic concerns
Economic Times
“We oppose linking terrorism with a certain country, nationality or religion, and oppose double standards,” a statement issued by its spokesman Ma Zhaoxu said, countering criticism levelled against China by the US State Department in its Country Report
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China to Sue US Firm Over Bohai Bay Oil Spill
Voice of America (blog)
China says it will sue an American oil company as soon as next week over a 2-month-old oil spill off China’s northeast coast. The official Xinhua news agency said Wednesday that the government’s maritime regulator plans to file the suit as soon as it
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China Swaps Climb After US Data; PBOC Keeps Bill Yield Steady
Bloomberg
By Kyoungwha Kim – Thu Aug 25 09:29:12 GMT 2011 China’s interest-rate swaps rose after US data on durable-goods orders and home prices beat economists’ estimates, easing concern the world’s biggest economy is slipping into recession.
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US says it would ensure rising powers like China, Brazil and India do not
Economic Times
WASHINGTON: Noting the rise of powers like China, Brazil and India, the US has said it would make sure that America continues to be a force to be reckoned with and these emerging nations do not threaten stability in the world. “We try everything we can
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US polls and China bashing
China Daily
The other candidates regularly try to outshine their rivals in denouncing China in the most offensive and provocative manner. The US and China are entangled at many geopolitical, economic and military levels. The interests of the two countries are not
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Rebalancing our policy towards China and US
Philippine Star
China and the United States are both critical to our economic and security well-being. Maintaining an even keel in our relationship with both is the smart thing to do. Unfortunately, it seems that we have vacillated between affection and indifference
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China overtakes the US to become the largest PC market
TechSpot
The forecast indicates that a staggering 85.2 million PCs will be sold in China next year versus 76.6 million units in the USChina’s lead in the PC market is a huge shift that reflects the rising fortunes of emerging markets as well as the relative
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US diplomat posed as Korean tourist in undercover visit to China tiger farm
The Guardian
Photograph: Sinopix/Rex Features An American diplomat posed as a Korean tourist to investigate a notorious tiger breeding centre in southern China, where he saw animals whipped, made to perform “marriage processions” and reportedly sold for traditional
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The USChina war: Hot or cold?
Washington Times
It’s a fitting metaphor for the looming showdown between China and America: Beijing wants to beat us on the world stage and is willing to break every rule in the book to win. Sporting events frequently serve as fields of battle to hash out wider,
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GE snubs US, sells technology to China
Catholic Online
GE is betting that China will deal ethically with US developed advanced technology. LOS ANGELES, CA (Catholic Online) – General Electric has agreed to send several technologically advanced components and instruments to China as part of a plan to
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Sino-US Joint Operation Brings Down China’s Biggest Porn Site Ring
Penn Olson
by Steven Millward on August 25, 2011 in Asia, Web It has been revealed that China’s biggest ring of pornographic websites was brought down – and its US-based creator arrested – after a rare joint operation between America’s FBI and China’s Ministry of
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China and US Seek Closer Cooperation on Audit Oversight
China Briefing
While the United States actually wants their officials to work together with Chinese inspectors to review Chinese audit firms, China wants the US side to accept the inspection data and evaluations Chinese inspectors have drawn by themselves.
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Anglo American settles Q4 coking coal at $285/mt FOB Australia, PCI at $208
Platts
The China factor alone is not enough to support a considerable rise in London Metals Exchange copper prices in the near term, analysts in China said late Wednesday, citing the poor state of the US and European economies. China imported 1.278 million mt
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China and the Big US Bet
Morningstar
What could have been safer than US government debt? It is certainly the easiest option as only US financial markets are deep enough to cope with China recycling its huge current-account surplus. China’s US bet is problematic because it stands to lose
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Shanghai Composite Rebounds on Record Bank Earnings, U.S. Economic Data
Bloomberg
“The US is likely to use QE3 to pour liquidity into global capital markets.” The Shanghai Composite Index, which tracks the bigger of China’s stock exchanges, jumped 74.2 points, or 2.9 percent, to 2615.26 as of the 3 pm close, the most since Oct. 15.
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TEXT-Fitch:Potential impct of US ‘Double Dip’ on global economic rcvry
Reuters
Overall, small and open emerging Asian economies with extensive trade links to the US and China would suffer the steepest declines in output in the ‘double dip’ scenario, while in central and eastern Europe, growth would weaken mainly as a result of
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Asian Stocks Rise as US Durable-Goods Orders, Home Prices Beat Forecasts
Bloomberg
25 (Bloomberg) — May Yan, a Hong Kong-based analyst at Barclays Capital, talks about China’s banking industry. Bank of China Ltd., the nation’s third-largest lender by assets, said yesterday first-half profit jumped 28 percent to a record while bad
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XDA China Gives Us Our First Look at HTC Sense 3.5
Phandroid.com
by Kevin Krause on August 25th, 2011 at 11:30 am Yesterday XDA.cn provided us with images of the upcoming HTC Bliss for Verizon, and today they have gone a step further by providing some screen grabs of the new HTC Sense 3.5 build that will ship on the
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Chinese economic development facing pressure from US, EU debts
Economic Times
BEIJING: China’s economic development is facing unprecedented challenges amid worldwide financial uncertainties resulting from the risk of debt default by some developed economies, analysts said. “The effect of high US sovereign debt is likely to
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China’s Rise Can Rally US Cleantech Support
EarthTechling
Meanwhile, the IMF recently projected that China’s GDP will surpass the US by 2016, measured by purchasing power parity — a vastly over-optimistic prediction, but shocking nonetheless. This isn’t rocket science. Voting to cut vital technology and
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China Appears To “Admit” Cyberattacks On US
Search Engine Land
While it’s not entirely clear what was shown during the report, this apparent “admission” of Chinese state-sponsored hacking puts the US and North American corporations in an extremely awkward position. China is the single largest holder of US debt and
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US leads world car population; China, India close behind
WTOP
The biggest jump in vehicle registrations last year was in China, with India close behind. But no where in the world are there more cars than right here in the US According to Ward’s research, America’s 239.8 million units continues to constitute the
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Memo To The Media: The US Spends Six Times More On Military Than China
Think Progress
Buck McKeon (R-CA), whose most major campaign contributions come from the defense industry, saying that American security will be “jeapordized” by defense cuts in the wake of China’s military rise: “China clearly believes that it can capitalize on the
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UK Tech News Blast: NASA Moon Launch, China’s US Web Hacking, HTC Sense First Look
Huffington Post
Today, we talking the next NASA moon launch, Chinese TV alluding to US web hacking, HTC Sense first look and funny animals. NASA is ready for the next moon launch on September 8th. They will “determine the structure of the lunar interior from crust to
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China: China still paying for the 2008 Beijing Olympics
Spero News
By Asia News Beijing – China spent a record US$ 70 billion on the 2008 Beijing Olympics. Now it is time to pay. Local authorities that raised capital to boost economic growth now must repay investors for the bonds they sold. However, they are having a
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Analysis: China’s telecom patent boom heralds innovation era
Reuters
China was the third highest filer of patents in 2010, just behind the US, which registered 326945 and Japan with 337497. Japan has been the leading patent filer in the world for the past decade but its lead is narrowing, with its filings volume down 12
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American Society of Appraisers Signs Historic MOU With the China Appraisal Society
PR Web (press release)
Working together to enable better relationships between governmental bodies of the US and China that have coordination responsibilities of appraisal services. Jack Washbourn, ASA International President states, “By signing this MOU, the American
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PPR Watchmaker Girard-Perregaux Seeks to Curb China Reliance
San Francisco Chronicle
25 (Bloomberg) — Girard-Perregaux, the 220-year-old Swiss watch brand controlled by PPR SA, wants to expand in the US and South America as it aims to reduce its reliance on China and as more Europeans seek alternative forms of luxury.
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Yuan Forwards Decline Most in Two Weeks on U.S. Economic Data
Bloomberg
By Bloomberg News – Thu Aug 25 08:52:09 GMT 2011 China’s yuan forwards dropped by the most in a week as better-than-forecast US economic data boosted demand for the greenback. The US Dollar Index, which tracks the greenback against the currencies of
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China’s railways ministry to raise US$15.6 billion in bond sale
China Economic Review
China’s Ministry of Railways (MoR) plans to issue up to US$15.6 billion in corporate bonds by the end of the year, an increase over last year’s US$12.5 billion, Reuters reported, citing three anonymous sources. MoR, one of China’s largest borrowers on
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It is Time for China to Use its ‘Financial Weapon’ on America (China Daily
The Moderate Voice
According to this column by Senior Editor Ding Gang of the state-controlled People’s Daily, American arms sales to democratic Taiwan undermine China’s sovereignty, and must be countered regardless of the financial losses to both the US and China.
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Dichotomy in China bulls and bears
The Australian
He was part of a lively symposium on Australia-ChinaUS relations a week ago, which was assembled by the enterprising Deakin professor He Baogang. Dr He produced an extraordinary revelation – that China’s President Hu Jintao was so buoyed by the
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Groupon’s Struggle in China No Surprise, Say Analysts
PCWorld
Other experts like Bishop believe GaoPeng repeated “classic mistakes” some US Internet companies previously made in China. He pointed to how the company recruited too many foreigners for management positions. GaoPeng also sacrificed quality for
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Caterpillar expands foothold in China
China Daily
Analysts have said China has quickly grown more important for US companies over the past few years. Zhao Ying, a researcher at the Institute of Industrial Economics of the Chinese Academy of Social Sciences, said China will continue to increase its
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Sen. Rob Portman says U.S. export values per capita lag Ethiopia, China and
PolitiFact
When Portman made a similar statement early this year, saying that US trade lags behind other developed nations, PolitiFact Ohio rated it as True. We found that the United States trails only Germany and China in terms of merchandise shipped abroad,
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Hertz looks to China for acquisitions
Boston Globe
SHANGHAI – Hertz Global Holdings Inc., the largest publicly held US rental-car company, is seeking acquisitions in China to increase its market share in the world’s biggest vehicle market. Hertz and General Electric Co. also said today they signed an
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Mattress maker finds Chinese consumers eager for quality, name-brand beds
NewsOK.com
Oklahoma exports to China increased to $243 million in 2010, up from $42 million in 2000, according to the USChina Business Council, a nonprofit organization consisting of about 240 American companies doing business with China.
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Obama and Immelt bring jobs and competitiveness to life
Washington Times
Just imagine the benefit that our Nation would derive from the deal if the jobs were in China enriching that nation’s ability to compete with US firms like Boeing! You remember Boeing. It’s the company that is being sued by the National Labor Relations
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Biden’s journey back in time
USA Today (blog)
By Richard Wolf, USA TODAY On his way back from a nine-day trip to China, Mongolia and Japan, Biden left Tokyo at5 5:03 pm Wednesday and arrived in Kaneohe, on the Hawaiian island of Oahu, at 5:45 am the same day. The vice president also chose to
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