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U.S. China News 2011.10.17

Mon, October 17, 2011

China, US just on top in world gymnastics
AFP
TOKYO — The Olympic gymnastics competition next year looks wide open after narrow wins saw China’s men and a young US women’s squad take the team titles at the world gymnastics championships in Tokyo. The medal table at the end of the 10-day
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US official warns against ‘lashing out’ at China
AFP
The official whose job is to promote US exports said Beijing and Washington already had adequate channels of communication to resolve differences, such as the USChina Joint Commission on Commerce and Trade. The US, which posted a record $29 billion
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China Timber Imports from Canada, US Surge in 2011
International Centre for Trade and Sustainable Development
Chinese imports of softwood lumber and logs from Canada and the US are on pace to double over 2010 by the end of this year. Overall sales are expected to reach a record US$2.6 billion if the trend holds from the first seven months of 2011.
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Wal-Mart executives resign in China labeling scandal
Los Angeles Times
Wal-Mart said Monday it was replacing the head of its operations in China, the giant US retailer’s latest setback in the country after employees were arrested and detained last week in the western city of Chongqing in connection with a labeling scandal
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Insight: Running Chinese finance, a different kind of banker
Reuters
“We can’t be paid more than the regulators who oversee us,” Jiang explained last year when asked about the matter. “If the regulators have to take a pay cut, we will take a pay cut as well.” China’s “Big Four” lenders are back in the spotlight as
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US official says strong Taiwan good
Taipei Times
The US should sell Taiwan F-16C/D aircraft because doing so would be in its best interest, a US lawmaker said yesterday at an international security conference in Taipei. “We need to empower Taiwan” in the face of China’s huge military buildup,
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Experts Divided on Impact to US of Russia, China Nuke Modernization
Global Security Newswire
By Rachel Oswald WASHINGTON — Russia and China are both modernizing their nuclear arsenals to include new capabilities, but experts at a House hearing on Friday offered different views on how those programs would impact the effectiveness of the US
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‘Made In America‘ Losing Traction In Europe
Forbes
The US is no longer the European Union’s top trading partner, according to interpretations of at least one data set in Europe. As of July 2011, good ole Made in China beat out Made in America in the European Union for the first time.
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America’s biggest growth industry: declinism
Reuters
Conservative agitator Pat Buchanan’s new book says America might not survive until 2025; it’s called “The Suicide of a Superpower.” Even less alarmist observers are suddenly sounding a lot like Buchanan, as economists now predict that China may surpass
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China’s political system is more flexible than US democracy
Christian Science Monitor
Two of the most notable peaceful successions are occurring in none other than the most important pair of countries in the world, the United States and China. In the next 13 months, America’s two-party electoral democracy will elect a president and a
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America must take pragmatic approach with China in future
The Independent Florida Alligator
In our current global atmosphere, Xi Jinping (if chosen as leader) will be unable to avoid several daunting issues: An increasing US military presence challenges Chinese military capabilities in the region, trade wars with the US over the Chinese
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China’s got gas: Asian giant starts buying north American energy companies
Daily Maverick
In what may be the first major natural resources buy for a Chinese parastatal in North America, Sinopec is buying Canadian oil and gas explorer Daylight Energy Ltd. This could herald the arrival of the Chinese in the North American commodities market
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Chinese Solar Subsidies Come Under Fire from US Lawmakers
International Centre for Trade and Sustainable Development
China’s clean energy subsidies were also the subject of a submission made earlier this month by US Trade Representative Ron Kirk to the WTO. In the submission, Kirk identified nearly 200 subsidy programmes that the US claims China has failed to notify
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Stash of US dollars seized on Nepal-China border
Republica
SINDHUPALCHOWK, Oct 17: The police office at Nepal-China border at Larcha has seized US $ 235031 (approximately 18.332 million rupees) while it was being smuggled to China via Khasa Monday. During regular checking, police recovered the foreign currency
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US, Philippine marines begin drills near Spratlys
Boston Globe
US Marine 1st Lt. Nick Eisenbeiser said the Oct. 17-28 maneuvers would focus on honing their joint capability to ensure regional security and were not aimed at China or any country as an imaginary target. “They shouldn’t get worried,” Eisenbeiser told
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Leyva gives US gold in finale
Boston Globe
Capped a banner world championships for the entire US team, too. All-around champion Jordyn Wieber and Aly Raisman added bronzes yesterday to give the Americans seven medals, four of them gold. Only China won more, with 12, and the United States
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GE head Jeffrey Immelt : US economy needs more confidence, drive
Economic Times
The head of the largest US conglomerate and a top adviser to the Obama administration on jobs and the economy said he believed the nation was not trying hard enough to compete with global rivals including China. “This focus that globalization brings is
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China says Wall Street protests cause for reflection
Reuters
BEIJING (Reuters) – China’s Foreign Ministry said Monday global protests sparked by the Occupy Wall Street movement in the United States were a cause for “reflection,” but the reflection should be focused on ensuring the world’s healthy economic growth
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Hong Kong Stocks Rise on Optimism for Europe Debt, U.S. Economy
Bloomberg
Shares dropped amid concern Europe’s debt crisis, China’s monetary tightening measures and a slowdown in the US growth will derail the global economic recovery. Companies on the index, which has gained 16 percent since its recent bottom on Oct. 4,
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US hunger rate triple that in China
World Socialist Web Site
The polling group found that 19 percent of Americans worried about being able to feed themselves or their families, compared to only 6 percent of Chinese. The Gallup finding showed a near reversal in the proportions of American and Chinese workers at
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Gap closing stores in US and expanding in China
Deseret News
While closing stores in the US, the struggling retailer, which also operates Old Navy and Banana Republic, plans to expand the number of stores in China to roughly 45 from its current 15 locations, the article states.
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Bill Seeks Reciprocity in USChina Media Relations
The Epoch Times
(Stan Honda/AFP/Getty Images) A bill recently introduced into the US House of Representatives seeks to correct a large imbalance between the official Chinese media presence in the United States and the official US media presence in China.
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Carlyle, Jack Ma-backed fund invests in China cinemas
Reuters
GDC was founded by Man-Nang Chong in Hong Kong 12 years ago and ranks second globally in terms of installed servers, with operations in China, Hong Kong, Japan, Singapore and the United States. Chong would remain a significant shareholder, Carlyle said
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CHINA: Chinese Cognac market leaps ahead of US in 2010
Wines-Info.Com
The Cognac market in China may be almost half the size of the US market in volume terms but, in value terms, has grown to be worth 70% more than the US, according to recent research. In 2009, the retail value of the Cognac market in China was US$370m
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US deficit with a China spin
Chinavestor.com (blog)
The FED has been doing an outstanding job in exporting our debt at super low rates… to who?… US financial institutions and China! Yes, the Chinese lend us money at super low rates so we can continue to live the way we are used to.
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Chinese to Import Record Amount of Corn in 2012
AgWeb
Despite the record crop, China will still be structurally short of corn for the seventh out of eighth year as use is estimated at 170.1 million tons. The US Grains Council projects China to need to import 5-10 million tons of corn for the 2011/12
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MY Signs Strategic Cooperation Agreements with China Development Bank
MarketWatch (press release)
(“CDB”) in Beijing, China. CDB is a government policy bank wholly owned by China’s central government. Under the agreements, CDB is expected to support Ming Yang in its strategic and financial planning by granting Ming Yang up to US$5 billion (or
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AMSC Unveils New Corporate Identity
REVE
New Brand Launched at China WindPower 2011 and Solar Power International. American Superconductor Corporation (NASDAQ: AMSC) today announced that it is now doing business as AMSC and introduced a new corporate identity in order to foster strong,
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Chinese succession highlights military’s role
The Associated Press
Tensions with the US military soared last year over arms sales to Taiwan and confrontations between Chinese ships and US Navy vessels conducting ocean survey work. While the generals and admirals who sit on the commission generally keep their views on
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Apple’s IPhone 4S Selling for $2000 in China
PCWorld
By Michael Kan, IDG News Apple has as yet to launch its new iPhone 4S in China, but the device is already selling in Beijing’s gray market at whopping prices of up to about US$2000, reflecting the popularity of the iconic device in the country.
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US OPENING NEWS INCLUDING: China offered to spend tens of billions buying
Proactive Investors UK
US Treasury Secretary, Geithner, said China should let the CNY rise more rapidly after Chinese Premier rebuffed US pressure for a more rapid appreciation. US Treasury Secretary, Geithner, said the US economic growth has gained some strength but remains
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Barton Biggs Raises Bullish Bets to 65% of Macro Fund
Bloomberg
By Inyoung Hwang and Betty Liu – Mon Oct 17 15:29:55 GMT 2011 Barton Biggs, co-founder and managing partner of Traxis Partners LP, speaks at the Bloomberg Link China Investment Strategies conference in New York, US, on Wednesday, Feb. 2, 2011.
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US Lawmaker Warns of China’s Nuclear Strategy
China Digital Times
“As we strive to make our nuclear forces more transparent, China is building this underground tunnel system to make its nuclear forces even more opaque,” he added, citing an unclassified Department of Defense report. The tunnels would allow China to
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China’s Trade Picture Not So Gloomy (FXI, TAO, FXP, EEM, VWO)
ETF Daily News
The US has maintained that China’s undervalued currency is a large factor in the huge trade gap between China and the US, and has proposed tariffs on Chinese goods unless China will allow the value of its currency to rise. China, for its part,
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Solar startup Sunpreme raises $50M, heads to China
GigaOm
based Silevo, which emerged from stealth mode last week, has raised money from Chinese venture capital firms and is now building a factory in Hangzhou to produce a novel, hybrid-silicon solar panels. Silevo is targeting China and the US as its initial
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Analysis: Gulf, Asia economic links yet to fulfill rich promise
Reuters
For its part, Saudi Arabia recently became the leading petrochemical supplier to China’s textile industry, said Chas Freeman, a former US ambassador to Riyadh who also served as a senior diplomat in Beijing. “The East is not just the future of the
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Iran-US tension rising ahead of elections
Reuters
Zhu Feng, a professor at Peking University and an expert on ChinaUS relations and proliferation issues, noted a recent falling out in the Security Council on Syria – Beijing opposed sanctions on Damascus – but said China was likely to be more
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Huntsman’s daughters stick up for dad on Twitter
USA Today
Abby Lvingston, Liddy and Mary Anne Huntsman — known by their Twitter handle @Jon2012Girls — are sharply witty and proudly behind their dad, a former Utah governor and US ambassador to China. Huntsman the candidate, who is lagging in public opinion
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Asia Report: The Intensity Increases Over China Pricing
RenewableEnergyWorld.com
By Renewable Energy World Editors DALLAS, Texas — American Sen. Ron Wyden continued to air his concerns about the price of panels coming out of China and about whether his country could compete with those figures in a paper titled “China’s Grab for
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Review: Ha Jin’s latest novel pays homage to heroism of US missionary during
Winnipeg Free Press
Jin, who was born in China in 1956 but has lived in the US since the communist Chinese government’s brutal crackdown on protesters in Tiananmen Square in 1989, says he first learned of the heroic role played by these Westerners when he read Iris
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REE International Appoints Tom Mackay as Chief Executive Officer
MarketWatch (press release)
development of REE International’s Venezuela property, Mackay’s business plan includes acquiring additional properties throughout South America and using these properties to mine tantalum and niobium for distribution throughout the US and China.
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Nigeria: ‘Indian,Chinese Companies Are Putting Us Out of Business’
AllAfrica.com
They come in extremely large quantities from India, China and you know those people have advantages. In China, they make in large quantity for the international market, so this cost less and they bring them here where we make in small quantity and we
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USDA report mixed
AG Week
The report indicated the return of China to the US soybean market as some of last week’s soybean shipments were sent to China. This had traders thinking China soon will be returning to the US soybean market to cover needs. There even were unconfirmed
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U.S. Will Inspect Cuban Rig
Wall Street Journal
Administration officials will tell nervous congressmen this week that the US will inspect the China-made drilling rig before the Spanish energy company in charge of the project, Repsol YPF SA, moves the rig into Cuban territory.
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Gap to triple stores in China till next year
Business Recorder (blog)
Gap, the US casual-apparel retailer, unveiled plans on October 13 to nearly triple the number of its stores in China by the end of its 2012 business year as it looks outside of North America to grow sales. Gap Inc, whose portfolio of brands includes
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