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U.S. China News 2011.10.16

Sun, October 16, 2011

China surpasses US as EU’s top trade partner
Economic Times
BEIJING: China has zipped past the United States as the European Union’s largest trade partner after bilateral trade rose to 35.6 billion euros in July, the Chinese Ministry of Commerce said here. Citing the latest statistics from Eurostat,
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Sui gives Chinese women 1st gold at gym worlds, Yang takes title with hardest
Washington Post
( Bullit Marquez / Associated Press ) – Gold medalist Danell Leyva of the US, center, is flanked by silver medalists Greece’s Vasileios Tsolakidis, right, and Zhang Chenglong of China, left, during the awarding ceremony for the final of the men’s
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No longer made in China: US companies start re-importing some jobs
The Tennessean
“There will still be huge demand for serving the Chinese market and the rest of Asia. But in terms of supplying North America, China will no longer be the default option.” The once-enormous gap in labor costs between China’s coastal provinces and
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Fitial, US governors off to China for second economic forum
Saipan Tribune
Benigno R. Fitial leaves today for Beijing, China to join five other US state and territorial governors for a second USChina governors’ forum on economic development and job creation. Fitial, in an interview Friday, said this forum is a follow-up to
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United Commercial bank’s spectacular rise and fall
CBS News
Earlier that same year, United Commercial became the first US financial institution to purchase outright a mainland China bank — a crowning achievement for Wu and his bank. The company’s stock was soaring on the back of the bank’s extraordinary growth
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Chinese face hurdles in attempts to visit US
LubbockOnline.com
The Chinese government likewise requires Americans traveling to China to obtain visas, though that process does not include an interview. Still, access to restive regions such as Tibet and Xinjiang is limited. To visit the US, Chinese nationals must
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Respect For Banks Drops In US, Holds Up In China
Forbes
In contrast to the banking sector’s declining repute in the US and UK, respect for it remains “strong” in India and China, according to GlobeScan. The survey didn’t provide data or analysis for those two countries. One big difference between the West
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Chuck Schumer and the China Currency Bill
Forbes
Let’s remember that back in the spring of 2010, when the Chinese were still holding firm to their peg of 6.82 yuan to the dollar, the maximum demand being made by American China-bashers was a 40 percent revaluation. In the fifteen months have elapsed
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China’s way, or
The Free Lance-Star
Webb’s legislation would prevent US firms from giving away technologies developed with US taxpayer dollars. THE UNITED STATES has a peculiar relationship with China. It is our political adversary, but as global financial players and trade partners,
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China: Claim of coexisting humans and dinosaurs
Examiner.com
A paper published Saturday October 15, 2011, in the Geological Bulletin of China by Chinese and American scientists claims to have found the first and only documentable evidence of the coexistence of humans and dinosaurs according to a report published
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MLK Memorial: From China, with love?
Christian Science Monitor
It’s not the first time such questions have dogged US monument patrons. The decision to use a French sculptor to carve the likeness of Robert E. Lee for a late 19th century monument in Richmond, Va., was met with “a lot of rumbling and grumbling” from
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French: Maybe US can learn from Chinese economy
Opelika Auburn News
China is made to be the scapegoat for all of America’s economic woes by Republican Sen. Jeff Sessions of Alabama. In a very strongly-worded column on these pages, Sessions claims, “China has systematically, strategically and aggressively undervalued
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Current trade deals are unfair, Slaughter says
Buffalo News
She’s also introduced legislation that would set up a Trade Impact Review Commission to determine how many American jobs have been lost because of NAFTA and China’s entry into the World Trade Organization. Another Slaughter bill would require the
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US Players Look to East
China Daily
By Sun Xiaochen (China Daily) As the NBA lockout continues, and more and more games are lost, some of America’s top hoopsters are heading abroad to continue their careers, writes Sun Xiaochen. In the absence of a Hollywood blockbuster, smaller movies
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Big boost for Chinese steel | Philadelphia Inquirer | 2011-10-16
Philadelphia Inquirer
Viewed another way, it’s the kind of on-the-job training that US workers do not receive and that American business, mesmerized by the potential of 1.3 billion Chinese consumers, trips over itself to give China. At a time when 25 million Americans are
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Tensions flare over oil in South China Sea
Financial Times
Vietnam is trying to find a delicate balance between assuaging China, its large, fellow-Communist neighbour, and encouraging other powers such as India and the US to help keep a check on Beijing’s grand maritime claims and increasing naval might.
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Communists doing better at capitalism
Philippine Star
“The US system generates the country’s prosperity as well as its problems and the same is true of China’s system… Reform and adjustment are necessary for both China and the US… The spreading protests in the US are a free lesson for China.
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Gap Closing 189 Locations in the US, Expanding in China
International Business Times
expand overseas by opening a store in Hong Kong and triple the number of its locations in China to 45 from 15. This move on the part of Gap is related to its goal of reducing its overall square footage in the US by 10 percent between 2007 and 2013.
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Grains Week Ahead-Prices hinge on demand; soy set to lead
Reuters
Most notably, China booked nearly 1 million tonnes of US corn last week and traders were expecting the world’s second largest consumer of the grain used for feed and ethanol to buy more as the country restocks depleting state coffers.
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The Great Stagnation or the Great Relocation?
The Atlantic
China’s rise, they say, will cause America to decline in relative terms, but our absolute standard of living will rise as more Chinese consumers buy our products and sell us their wares. Perhaps. But there exist more complicated theories of how the
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Gilani announces Rs 20m for LHCBA, Rs 10m for LBA
Associated Press of Pakistan
BEIJING, Oct. 16 (APP): China has achieved another milestone when its trade with European Union (EU) totalled 35.6 billion euros (49.4 billion US dollars) in July, allowing China to overtake the United States as the EU’s largest trade partner,
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China is Not a Problem, But a Help (When It Comes to Our Solar Power Goals)
CleanTechnica
A handful of struggling solar manufacturers are expected to announce they are joining a petition to the International Trade Commission and the US Department of Commerce (DOC). The petition is expected to allege China unfairly subsidizes solar
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China leaps forward in research
The Australian
The report finds that the UK’s share of the OECD’s gross expenditure on research and development fell from 5.3 per cent to 4.15 per cent between 1991 and 2008 while the US remained stable at 42 per cent. However when China is added to the OECD total
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Stimulus money pays for street, traffic lights made largely overseas
Tribune Review
Although Philips sends wafers overseas for further production, Cree cuts them into LED chips in the United States. In fiscal 2011, however, 76 percent of Cree’s sales came from outside of the United States, including 36 percent in China.
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Wool market stabilising
Stock and Land
“Finer wools are a toss of the coin still; a vast majority of the fine wools that goes to China ends up back in Europe or America in one way or another. “So no-one in China wants to touch fine wool at the moment because of the European situation,” Mr
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Chinese-language newspapers having unprecedented impact on SF mayor’s race
San Francisco Examiner
A 2001 report by the Jamestown Foundation echoes Ma’s assertions, positing that most US Chinese newspapers are “either directly or indirectly controlled by the government of mainland China.” Though it offered little concrete evidence,
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China prove to be nation of gymnastics specialists
AFP
China finished top of the table, as they did last year, with 12 medals including four golds. The United States also grabbed four golds, with a total medal haul of seven. Hosts Japan won two titles and seven medals in all. Zou, 23, regained the world
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Nick Zaccardi: NBC’s 2012 star, the U.S. women’s dominance, Uchimura’s legacy
SI.com
This team, which won bronze in Tokyo, has an outside shot at 2012 gold, and it can easily be more talented than the 2004 US silver medalists. The roster reduction from six to five will only help the US reel in China and Japan.
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Gap to Close Stores in the US, While Expanding in China; Nearly 200 Locations
China Digital Times
The struggling retailer, which runs the Gap, Old Navy and Banana Republic chains, detailed plans on Thursday to close 189 locations, or 21 percent of its namesake Gap stores in the US, by the end of 2013. At the same time, the largest US clothing chain
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NBA, China both deserve thought
TheNewsTribune.com
There’s a school of sentiment that says China holds all the power in this relationship. But the US is not without some leverage. China needs the US market, and our raw-material exports, to keep its economy afloat; shutting off that market in a
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Brazil president holds her own as Lula successor
Los Angeles Times
On the economic front, Rousseff inherited fast growth, after a decade in which China replaced the US as Brazil’s main trading partner and high prices for commodities such as iron ore and soy, combined with moderate social spending, lifted tens of
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Mandarin has the edge in Europe’s classrooms
Financial Times
“There are over one billion people living in China: surely, students should be exposed to their language and their culture.” China’s rapid economic rise is gradually translating into a greater presence in European and US classrooms, from a very small
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Veterans’ China visits questioned
Taipei Times
“Retired Taiwanese military officers have visited China in an individual capacity for many years,” writes John Dotson, a research coordinator on the staff of the congressionally mandated USChina Economic and Security Review Commission in the latest
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Who suffered more, Pakistan or US?
Pakistan Observer
Pakistan, with a population exceeding 180 million people, eighth largest standing armed force , the only Muslim-majority nation to possess nuclear weapons, major non-NATO ally of the United States and a strategic partner of China holds strategic
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Congress approves free trade accords with three U.S. allies
Las Vegas Review-Journal
The Senate voted 63-35 for a bill that presses the Obama administration to crack down on China’s practice of manipulating its currency to gain an advantage in US trade. The measure calls for new tariffs on goods imported from China.
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US lawmakers say alleged Iran plot was “very real”
Reuters India
Feinstein and Rogers said the United States should push Russia and China to get behind sanctions, arguing the two powers have scuttled past efforts to crack down on Iran over its nuclear ambitions. “Put pressure on the Chinese and the Russians and say,
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Japan’s aging air force plans major overhaul
The Associated Press
Roughly 50000 US troops are stationed in Japan under a security pact. Japan’s air forces must work closely with their American counterparts, and using the same or similar equipment makes that easier. Japan’s main concerns are China and Russia — with
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Hedge Funds Add to Wagers in Biggest Rally of 2011: Commodities
BusinessWeek
Soybeans rose 9.6 percent last week to $12.70 a bushel on the Chicago Board of Trade after the US Department of Agriculture reported that China bought US corn, soybeans and wheat. The Asian nation is the world’s largest soybean importer.
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Wieber, Raisman add to USA’s medal haul
ESPN
Sui, the odd girl out when it came to making China’s 2008 Olympic team, does a simple vault and does not often compete bars at the international level, but she’s an absolute dynamo on beam and floor. Some may believe she was robbed of the floor title
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G20 Says No Threat Of Recession Yet
Forbes
The US, UK and China are against the proposal. The US, also part of the G-20, remains mired in political limbo with President Barack Obama looking more and more like a weak president. On Friday, a New York Times op ed by Harvard University professor
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Steve Rattner Gets It Wrong on Globalization in the NYT
Business Insider
There is no shortage of intelligent people in countries like Mexico, India, and China who would be happy to train to US standards and learn English, if this would give them an opportunity to work as professionals in the United States.
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U.S. economy: A story of fits and starts
MarketWatch
Also on tap this week are the latest inflation data and the Federal Reserve’s periodic Beige Book report on the US economy. Several major reports from China, including quarterly growth, will draw attention, too. Jeffry Bartash is a reporter for
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State Sponsored Terrorism in Iran and Pakistan
American Thinker
No one is worried about China’s influence since they will not be capable of providing to the Pakistanis what America friendship would provide. In fact, Rogers wants China and Russia to realize that they must stand with the international community
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World’s population hits seven billion; challenges abound, notably in Asia, Africa
Toronto Star
With 312 million people, the US is the third most populous country after China and India. Lagos, Nigeria, is expected to overtake Cairo soon as Africa’s largest city. Private water vendors there do a brisk business in the many neighbourhoods that
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