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U.S. China News 2011.08.26

Fri, August 26, 2011

China will be next big buyer of US hard assets
Financial Times
Chinese bankers and investors say the investment landscape in China is more transparent and fair than that of the US, a charge that is given weight by CFIUS operating without any transparency at all. (Treasury officials cite the need for secrecy given
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China denounces US report, defends military upgrade
Reuters
Beijing and Washington have sought to rein in their quarrels this year, and a recent visit to China by US Vice President Joe Biden brought vows of cooperation and goodwill. But military wariness between the two powers remains a source of tension,
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The smoking gun on China’s US cyberattacks
GCN.com
But now, thanks to China itself, I have proof that the People’s Liberation Army does attack the United States, and likely does so on a regular basis. China’s claims of innocence have come crashing down because of an apparent mistake in editing in a
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Disguised US diplomat investigates China tiger farm
The Australian
A US diplomat disguised himself as a Korean tourist to probe a tiger farm in China where he voiced alarm at conditions that included whippings of the endangered big cats, a leaked memo said. An internal US diplomatic cable, released by the activist
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Biden Leaves Asia Offering a No-Apology Message to U.S. Audience
Bloomberg
5 announcement that it was downgrading US debt for the first time to AA+ from AAA. Moody’s Investors Service and Fitch Ratings, the two next biggest rating companies, affirmed their AAA ratings on the US China is the biggest foreign holder of US
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Russia, China resist U.N. Syria sanctions push: envoys
Reuters
By Louis Charbonneau UNITED NATIONS (Reuters) – The US and European push to impose UN Security Council sanctions on Syria for its bloody crackdown on pro-democracy demonstrators is meeting fierce resistance from Russia and China, UN diplomats said.
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China Surpasses US to Become Largest PC Market in the World
Scientific Computing
Approximately 18.5 million units worth US$11.9 billion shipped in China during the quarter, compared to 17.7 million units worth US$11.7 billion in the US China represented 22 percent of the global PC market’s unit shipments compared to the US at 21
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Exclusive: China plans to mop up bank liquidity
Reuters
BEIJING (Reuters) – China has ordered banks to include their margin deposits in required reserves at the central bank to mop up excessive liquidity, banking sources said on Friday, the latest move in Beijing’s campaign to rein in worrisome inflation.
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Gap between China, US remains: US researcher
Focus Taiwan News Channel
Citing a report by analyst Charles Wolf that said US GDP in 2009 was nearly US$15 trillion while China’s was US$5 trillion, Glosserman noted that the average American had an income of US$48000 in 2009, while the average Chinese citizen had less than
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Mistrust straining Indo-China ties: US
Hindustan Times
A high-level of distrust continues to strain bilateral relations between India and China despite deepening economic ties, said the US military in its annual report on China’s military capabilities to the congress on Wednesday.
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ICT trade between Taiwan and China topping US$5 billion in 2011
Digitimes
The value of two-way trade for ICT products between Taiwan and China is expected to top US$5 billion in 2011, growing from the US$3 billion recorded in 2009 and US$4.48 billion in 2010, according to an estimate by Taiwan’s Ministry of Economic Affairs
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BofA To Sell At Least Half Of China Construction Stake -CNBC’s Kelly
NASDAQ
(BAC) is in the final stages of negotiating the sale of at least half of its 10% stake in China Construction Bank Corp. (0939.HK) to a group of sovereign-wealth funds and institutions from the US, China, Malaysia and the Middle East, CNBC’s Kate Kelly
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US Treasury Bond Funds Still Outperformers, But For How Long?
Forbes
More importantly, however, is the fact that some really big money is at work in favor of US Treasury bonds. Emerging market Central Banks and sovereign wealth funds from Saudi Arabia to China are all big buyers of US Treasurys, driving up bond prices
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Visa: US urged to cut wait times for India, Brazil, China
Rediff
“A five-year visa in China would take a third of the people out of line, again, make us much more productive in this growing market,” Dow said. He said decreasing the wait times for international travellers once they arrive to 20 minutes or less was
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Evonik expanding MMA capacity in US, China, Germany
Plastics News
In the US, Evonik is part owner of Parsippany, NJ-based acrylic sheet maker Evonik Cyro LLC. Evonik Cyro ranked No. 55 in Plastics News’ most recent ranking of North American film and sheet makers, with sales of more than $100 million.
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This time might be different
Asia Times Online
But now China’s economic growth alone has made it the closest near-peer competitor to the US, and its ongoing embrace of authoritarian politics make it an easy proxy for the role of ideological foe which the Soviet Union long held.
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China Eyes Competitive Edge In Renewable Energy
EarthTechling
by Nino Marchetti, August 26th, 2011 By Melanie Hart, Center for American Progress China’s State Council (the national cabinet) is currently reviewing a set of massive funding proposals for seven key “strategic emerging industries”: environmentally
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Ex-US envoy saw PHL-China trade as ‘Embracing the Dragon’ —Wikileaks
GMANews.TV
A US ambassador noted the “deepening” trade relations between the Philippines and China due to “shared history and ethnic connections” – particularly wealthy Filipino taipans – despite smuggling that “distort economic data,” according to a cable
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Midsized Manufacturers Beat Slump by Embracing China, India
Bloomberg
“Tepid economic growth and unemployment dominate the headlines in the US, but there are opportunities for our products in developing countries,” he said. “In China, even in a bad year, the economy will grow 6 percent to 8 percent.
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China’s Growth Depends on Innovation, Harvard’s Rodrik Says
Bloomberg
The US, Europe and the International Monetary Fund for years have prodded China to let its currency rise in value, arguing that the country keeps its currency artificially low to give its companies a competitive edge. The US has also pushed China to
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China Cosco reports H1 loss of US$432 million on rate volatility
China Economic Review
China Cosco Holdings (1919.HK) surprised analysts with greater-than-expected losses of US$432 million for the first half of the year, Bloomberg reported. The country’s largest shipping company blamed falling cargo rates and rising fuel costs for the
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US senators lay wreath at Memorial of Martyred at GHQ
Associated Press of Pakistan
BEIJING, Aug 25 (APP): Pakistan’s Foreign Minister Hina Rabbani Khar has said that “when a new challenge emerges, it only bring China and Pakistan more closer.“We have a natural convergence of interests, which could be reflected not only in a bilateral
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China’s Waning Influence in Angola
OilPrice.com
Angola also has the world’s fourth largest diamond fields, and in 2009, China surpassed the US as its main buyer. Dozens of high level Chinese delegations have visited Angola in recent years while nearly every senior official in Angola has paid a call
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Sino-Forest shares halted amid allegations
Financial Times
US exchanges have announced plans to tighten their listing standards to prevent fly-by-night companies from accessing the US markets. The accounting board has been lobbying China’s authorities to allow it access to auditing firms in the country in
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Perry dances on China question
Politico
Laura Ingraham tried, with some difficulty, to pin down Rick Perry on the question of a “rising China” and what it means for the US on her show earlier today: Laura: Is a rising China good for the United States? And if not, what are you going to do
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World’s Top-Emitters No More Aware of Climate Change in 2010
Gallup.com (blog)
Japan’s decision not to support the protocol’s extension stems from concern about the lack of binding targets for the US, China, and India, not from a lack of Japanese concern about climate change. Nearly all Japanese adults (98%) surveyed before the
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Superpower on the rise
Irish Times
While senior voices in China have chastised the US for its spendthrift ways, the government officially has kept quiet, aware perhaps that a property bubble in China could burst, with appalling consequences. Its diplomacy is largely linked to securing
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US ‘double dip’ tipped to slow Chinese growth, cut commodity prices
Sydney Morning Herald
AUSTRALIA’S biggest trading partner, China, would suffer a 2.7 percentage point hit to economic growth and commodity prices would fall in the event of a double-dip recession in the US, a report says. The warning came as the Reserve Bank said Australia
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Binay called for stronger Philippines-US security ties
Sun.Star
Although US is not obliged to take the side of the Philippines on its dispute with China on the contested Spratly Islands, it is bound under the 1951 Mutual Defense Treaty to come to the defense of the Philippines if its troops, public vessels or
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French president makes unexpected visit to China
People’s Daily Online
First, Sarkozy’s unexpected visit to China is due to the serious economic situation facing EU countries. Sarkozy’s visit to China shortly after US Vice President Joe Biden concluded his visit to China in an attempt to recover public confidence in the
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Kucinich to Immelt: Resign
TheStreet.com
American taxpayers subsidized the development of this advanced technology, but US taxpayers’ investment will end up creating jobs in China. In the short term, GE is selling products to the Chinese, which will help GE’s bottom line. In the long term,
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Born in Atlanta, killed in Memphis and made in China.
RT
One of Yixin’s most notable works on his resume include a sculpture of Chinese dictator Mao Zedong. Yixin says he has also fashioned a bronze bust of US President Barack Obama, which he intends on giving to the commander in chief.
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China’s BYD to raise up to $939 mn in bond sale
AFP
China’s auto sector overtook the United States in 2009 to become the world’s largest and last year sales rose more than 32 percent to a record 18.06 million units. But the sector has since lost steam after Beijing phased out sales incentives such as
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Is The US Really Better Off Than The EU?
Forbes
While the US has some of the world’s best multinationals, consider this: Heinz’s sole bright spot in its recent earnings announcement was reported sales increases because of growth in the emerging markets. Coca-Cola is investing $4 billion in China,
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China’s Appetite For Corn Is Growing (CORN)
ETF Daily News
Larry Levinson: China, which already is the largest buyer of raw materials on the world stage, is reportedly adding US corn to its shopping basket. China ordered 21 million bushels of corn in one shot in July, more than US agriculture officials
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China Seeks Role in Post-Gadhafi Libya
Voice of America
Analysts say Beijing’s efforts to play a more active role in post-Gadhafi Libya highlight its increasingly flexible approach to foreign policy and China’s desire to protect its national interests. Unlike France, the United States and other Western
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Korea-US Alliance Must Develop Based on Shared Values
The Chosun Ilbo
US diplomatic policy during the Barack Obama administration can be summed up with the four principles known as the “Obama doctrine”: strengthening alliances with Asian and European countries, improving ties with China, Russia and other superpowers,
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ConocoPhillips urged to clean up oil spills
China Daily
BEIJING– China’s top maritime official on Thursday urged US oil giant ConocoPhillips to finish cleaning up oil spills in north China’s Bohai Bay before the arrival of a deadline set by the government, stating that the company will face “enhanced
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Basel III: Chinese banks saving for new capital adequacy ratio
Reuters Blogs (blog)
Earlier this summer, China Citic Bank Corporation Limited (CCB) issued 7.8 billion new shares in a dual Shanghai-Hong Kong rights issue, raising US$4 billion in total. Proceeds from the transaction were used to strengthen the bank’s capital base.
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China Trying 3 Monks in Self-Immolation Case
Voice of America (blog)
The US State Department said in April that China’s actions were inconsistent with freedom of religion and human rights. China retorted that the United States should “respect facts” and stop making “irresponsible remarks.” Foreign journalists are rarely
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CNOOC takes closer look at shale
UPI.com
26 (UPI) — China National Offshore Oil Corp. said it was looking to invest more in unconventional resources to boost profits. CNOOC Chief Executive Officer Yang Hua in a statement to shareholders said his company would step into unconventional energy
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Armstrong tells US to return to the Moon
China Daily
By Amy Coopes (China Daily) SYDNEY – Neil Armstrong has urged a return to the Moon to train for missions to Mars as the United States contemplates the future of its space program following the end of the shuttle era. The first man to walk on the Moon
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GE and China: Growing Market Overseas, More Jobs at Home
R & D Magazine
The truth is that expanding into new markets and selling to more customers—whether in China or any other large, growing international market—means more GE jobs in the US, now and in the future. With $17 billion in US exports in 2010, GE is the nation
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Medtronic CEO: Emerging markets could be safer bet than developing products
Mass Device
Targeting the growing middle class in China, India and other emerging countries may be “potentially less risky than creating new products for the flat US market,” new Medtronic Inc. (NYSE:MDT) CEO Omar Ishrak said in his first shareholders meeting
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Steve Jobs Resignation Has Chinese Netizens All Worked Up
The Atlantic Wire
Naturally, Steve Jobs’s resignation as Apple’s CEO has sparked heated discussion in the US But you might be surprised to learn that China–and particularly users of the Twitter-like Sina Weibo service–is also awash in spirited commentary, according to
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