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U.S. China News 2011.08.29

Mon, August 29, 2011

China builds up while the US slashes defense
Washington Post (blog)
First, Beijing’s increasing assertiveness and military capabilities, particularly China’s ability to deny access to the western Pacific, is of growing concern not only to the United States but to China’s neighbors, leading to changes in the military
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JPMorgan’s Mowat on Japan Politics, China, US Economy
Washington Post
Aug. 29 (Bloomberg) — Adrian Mowat, the Hong Kong-based chief Asia and emerging-market strategist at JPMorgan Chase & Co., talks about the global economy, financial markets, and central banks’ monetary policies. Mowat, who also discusses Japan’s
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China, USA, Germany, Spain, and India add highest wind power capacity, says
Economic Times
Major wind markets China, USA, Germany, Spain, and India continue to lead the show in capacity addition. They, together representing a total share of 74 % of the global wind capacity. The global wind capacity grew by 9,3 % within six months and by 22,9
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USChina Legal Cooperation Fund Announces New Grants
MarketWatch (press release)
WASHINGTON, DC, Aug 29, 2011 (MARKETWIRE via COMTEX) — The USChina Legal Cooperation Fund has announced its most recent round of grants for rule-of-law projects in China. The USChina Legal Cooperation Fund, an initiative financed by leading American
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U.S.China relations — how they are managed will impact all of humanity
AnnArbor.com
This was a mistake.

 Moving forward with globalization and technology, all roads will intersect in China. Gov. Snyder will not address all the challenges between the US and China, but he can begin to develop the guanxi/relationships necessary to
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Who’s Got the Bigger Economy: China or the US?
PBS NewsHour
Question: It was recently reported that the US has the largest economy in our world, more than double – and several trillion dollars higher – than China. But, is there a “currency conversion factor” necessary for a more meaningful comparison?
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Bank of America sells stake in Chinese bank
The Guardian
Photograph: Michael Buckner/Getty Images Bank of America is selling off half of its holding in China Construction Bank to a group of unidentified investors. The US’s largest bank by assets said it will sell 13.1bn shares in the Chinese bank for $8.3bn
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Controversial gold is “bittersweet” for Richardson
Reuters
Jason Richardson of the US (L), Dayron Robles of Cuba (C) and Liu Xiang of China holds their national flags after the men’s 110 metres hurdles final at the IAAF World Championships in Daegu August 29, 2011. Robles was later stripped of his gold medal
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Longtop receives notice from US SEC
Financial Times
By Kara Scannell in New York Longtop Financial, the China-based software provider, said it may face civil action from the US Securities and Exchange Commission for failing to provide current financial statements to investors. The disclosure by Longtop
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No U.S. Recession on ‘Bullish’ Bernanke: Mobius
Bloomberg
Mobius speaks from Seoul with Susan Li on Bloomberg Television’s “First Up.” (Source: Bloomberg) The US economy will avoid a recession and China’s yuan will be a “major force” as a reserve currency in five years, predicted Templeton Asset Management’s
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Warning from China
Buffalo News
Now transfer that scenario to the global arena: The bank is China and you are the United States. With that, reality sets in. China actually said: “What is especially important is to let the world see that the US government and relevant departments have
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US Solar Market Favors Project Developers Over Manufacturers
NASDAQ
Company executives have suggested the US can best support manufacturing by creating long-term financial incentives and a national renewable-energy requirement. While solar-panel manufacturing is likely to continue migrating to China and other Asian
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Arroyo corruption scandal weakened China influence, leaked US cables say
ABS CBN News
by Jojo Malig, abs-cbnNEWS.com MANILA, Philippines – Corruption allegations that rocked the Arroyo presidency dealt serious blows to China’s growing trade and economic influence in the Philippines, according to several US embassy cables released by
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China’s view of U.S. financial debate
Deseret News
By Robert Bennett, For the Deseret News I did not write a column last week because I was in China, where I had the opportunity of addressing a university class, exchanging views with a seminar of economists and conducting interviews with several
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China, US join hands to shut down child porn sites
Computer Business Review
The US and China have reportedly joined hands to shut down a network of Chinese child pornography sites. According to an AFP report, the two countries closed the ring having at least 48 pornographic sites aimed at Chinese Internet users.
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Software Tracking Could Turn Chinese Piracy Into Revenue
PCWorld
In 2010, the market value of pirated software in China totalled US$7.7 billion, putting the country second behind the US, according to estimates from the Business Software Alliance. In spite of the challenges, enterprise software makers are better
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China’s Pending Energy Crisis
DailyFinance
As mature economies like the US and Europe sputter postrecession, China has caught the world’s attention as an economic power. The country’s nearly double-digit growth is the envy — and the concern — of the traditional economic powers of the world.
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US Is In Recession Right Here, Right Now
Business Insider
Moreover, the US Would Welcome China Not Buying US Treasuries! exactly the opposite of what hyperinflationists would have you believe. Please read the link for a detailed explanation. As the silly calls for near-term hyperinflation mount,
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U.S. Solar Product Exports Rose 83% in 2010, Helped by Chinese Sales
Bloomberg
By Christopher Martin – Mon Aug 29 14:02:17 GMT 2011 US exports of solar products climbed 83 percent last year to $5.63 billion as increasing production in China drove up sales of manufacturing equipment and raw materials, according to the Solar Energy
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China’s Sohu Surges on Shares Repurchase Plan for Game Unit
Bloomberg
29 (Bloomberg) –Sohu.com Inc. (SOHU), operator of China’s fifth-most visited website, soared to the highest level in two weeks after it announced a plan to buy back US-listed shares of its online game unit. Sohu’s American depositary receipts gained
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Argentina: Global crisis forces promotion of products in the US and China
FreshPlaza
Now business destinations are the US and China. Speaking to Press TV, Channel 10, the official explained that “from the Ministry through to the IDEP we are searching to internationalize Tucumanos products, it is an important commitment”.
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Thanks to huge government subsidies, China poised to be world leader in
Mother Nature Network (blog)
China has still not adopted a single charging standard, as has the US with the Society of Automotive Engineers’ J1772 plug. And the urban Chinese tend to live in high-rise apartments, which makes home garage-based charging out of the question.
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Sino-Forest saga another reversal of fortune for HK founder
Reuters
By James Pomfret HONG KONG (Reuters) – The troubles facing China’s Sino-Forest (TRE.TO) mark a new chapter in the chequered career of Allen Chan, its Hong Kong-born founder who resigned as CEO over the weekend amid massive fraud allegations and a
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Sinopec Betting on Shale Gas Ventures for Growth to Offset Refining Losses
Bloomberg
s parent and Cnooc Ltd. (883) to seek technology through partnerships as China, estimated to hold more gas trapped in shale than the US, opens new areas to exploration. Results of 20 experimental shale-gas wells Sinopec has drilled in China are “better
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China surpasses U.S. in PC market growth
istockAnalyst.com (press release)
(Source: Tulsa World)SAN FRANCISCO (AP) – China passed an important technological milestone: It became the world’s biggest consumer of PCs in the second quarter, according to new market research by IDC. The US is still expected to be the world’s
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Ample supply, slowing Chinese import numbers and weak manufacturing activity
Stock Markets Review
Manufacturing activities in the US and China are still subdued. NBS PMI numbers in China are close to the 50-mark, raising risks for manufacturing activities going into contraction. ISM PMI data of the US, too shows the same picture, which remains well
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Why The US Economy is Heading For (Double-Dip) Recession
Forex News Now
5 was one of the triggers that called into question the US’s international credibility. China began to criticize the “cowardice” of US political leaders. The long discussion concerning raising the debt ceiling increased the anxiety of the market and
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China airliner gets GE tools
Fort Wayne Journal Gazette
The potential competition with Boeing, coming at a time when the United States is fighting to maintain its own manufacturing base, has stirred some American criticism. But GE executives say they have had no second thoughts. China’s airplane market is
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China, India Take Huge Chunk of Emerging Market Private Equity
2point6billion
According to the study, in the first half of 2011 private equity funds in emerging markets amounted to US$14 billion, with China and India contributing 68 percent of the total investment. China had US$5.8 billion and India US$3.8 billion.
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Hooker, US feel golden
San Antonio Express
The 2005 Southwest High School graduate claimed Most Valuable Player honors Sunday in the FIVB World Grand Prix after leading the United States to the gold medal with a 3-0 win over Brazil in Macau, China. “It is always a challenge to play the Brazil
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Sands China first-half profit more than doubles
MarketWatch
Net profit for the six months ended June 30 was US$539.5 million, up from US$250.5 million, the casino operator said. Net revenue rose 19% to US$2.36 billion from US$1.98 billion. Sands China didn’t recommend a first-half dividend.
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High tide for Brazilian yacht market
The Associated Press
The ranks of the new rich, and luxury goods sales, are growing in other developing countries as well, especially the so-called BRIC group of Brazil, Russia, India and China. The number of millionaire households in the nation of 190 million will have
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Four regions threaten global economy
Houston Chronicle
Going East, China has been relying on a model built on a deliberately undervalued currency and export-led growth, with low domestic consumption and high savings. But persistent unemployment in China’s US and European markets is making Beijing’s
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U.S. Commodities Day Ahead: Texas Dust Bowl Drives Cotton Rally
Bloomberg
Asian shares and US index futures climbed. Japanese rare-earth buyers are switching to quarterly sales contracts and looking for alternative sources after China curbed shipments, increasing prices for the materials used in hybrid cars and missiles.
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China’s nuclear power risky?
UPI.com
29 (UPI) — By settling for cheap technology, China has “vastly increased” the risk of a nuclear accident, claim diplomatic cables from the US Embassy in Beijing, The Guardian newspaper reports. The US Embassy cables from August 2008,
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China in Syria Series (III)
The Diplomat (blog)
In terms of the USChina relationship, North Korea’s nuclear programme and the South China Seas disputes are arguably more important. It wasn’ta huge risk to call for President Assad to step down, in our view. The United States has been very clear in
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Asia Stocks Climb for Third Day as Bernanke Says U.S. Economy Recovering
Bloomberg
China Shenhua Energy Co., a unit of the country’s largest coal producer, advanced 3.7 percent in Hong Kong after reporting higher first profit. The MSCI Asia Pacific Index advanced 1.6 percent to 122.18 as of 7:42 pm in Tokyo, heading for its highest
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US needs a new Bretton Woods deal
Buffalo News
Like the US, these countries are mired in debt. Like the US, they are carrying massive foreign trade deficits. And like us, their biggest trade deficits are with China. Instead of promoting President Bush’s free trade pacts with Panama, Colombia and
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Petrash: Is U.S. the next Roman Empire?
Times Record News
China’s carrier, which will carry a crew of 2000 and 50 fighter aircraft, is the latest entry in a massive Chinese military buildup designed to challenge us in the Western Pacific and deny us access to the Taiwan Strait and the South China Sea.
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China Golf Group, Inc. Signed a Letter of Intent for M&A with Xi’an Clubank
MarketWatch (press release)
Becoming a shareholder of Clubank Network will bring China Golf Group a sustainable annual revenue and income, and also enhances our brand awareness and influence in golf industry, thus helping us to form a comprehensive and largest golf industry chain
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Overvalued Dollar is the Cause of High Unemployment in the US. A One-Time
U.S. Politics Today
The US dollar is the world’s strongest currency and it is the most valued currency in the world. The economic growth of China and other Eastern economies is a direct result of artificially low currency conversion rates. GURNEE, IL, August 29,
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Some political gaffes really say something
Kansas City Star
By MICHAEL SMERCONISH While in China last week, Vice President Biden mistakenly said we own 85 percent of US Treasury securities, while the number is actually 54 percent. But who am I to criticize? Sitting in front of a live microphone can be dangerous
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U.S. Markets Open, Libor, Insider Trading, BofA: Compliance
San Francisco Chronicle
(Updates with US stock markets in top section; Romania- carbon emissions trading in Compliance Action; China central bank in Compliance Policy; and Melikyan in Comings and Goings.) Aug. 29 (Bloomberg) — US stock, bond and commodity markets will open
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Asia to lead global economy out of crisis
People’s Daily Online
By Zhou Xiaoyuan (People’s Daily Overseas Edition) Although the world economy has been dragged down by the European and US debt crises, China’s exports reached a record 175.1 billion US dollars in July, with an increase of 20 percent from a year
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Caterpillar chief attacks Washington
Financial Times
Meanwhile, our competitors, led primarily by China, are signing up countries to free trade agreements.” He said he was also concerned that road-building legislation could fall victim to partisan squabbling. “Spending on infrastructure made us one of
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South Carolina’s attorney general endorses Huntsman
CNN (blog)
Alan Wilson, son of US Rep. Joe Wilson, joined the former US ambassador to China and Utah governor for the endorsement event at the South Carolina Statehouse. About a month ago, Wilson’s Director of Public Affairs Adam Piper took a leave of absence
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