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U.S. China News 2011.10.18

Tue, October 18, 2011

Some US governors view China as trading partner to cultivate, not a rival to
Washington Post
He also accused China of stealing American inventions. A bipartisan group in the US Senate, meanwhile, voted last week to threaten China with higher tariffs because of a dispute surrounding its currency valuation. That drew a rebuke from the Chinese
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China’s Currency Distracts From US’s Policy Failings: View
BusinessWeek
It’s unfortunate that the temptation to blame other countries for America’s self-inflicted woes is gaining bipartisan support. Let’s be clear: We don’t favor China’s policy of keeping the yuan artificially weak, and thus making its exports cheaper.
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Oil Drops for a Second Day on China Growth, US Supply Forecast
BusinessWeek
By Grant Smith and Ben Sharples Oct. 18 (Bloomberg) — Oil fell for a second day in New York after China said its economy grew at the slowest pace in two years and US crude stockpiles were forecast to increase. Futures dropped as much as 1 percent,
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US official says currency bill reflects frustration with China
Chicago Tribune
Republican legislators are opposed to the bill, and the Treasury Department said last Friday it would delay until later this year a ruling on whether China is manipulating its currency. “It is important for both China and the US as trade partners to
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US STOCKS-Index futures off on China worries, France caution
Reuters
US planemaker Boeing Co predicted more sales cancellations for its delayed Dreamliner 787 after a Chinese airline scrapped 24 orders, but said the overall order book for the new long-range aircraft remained strong. * US stocks suffered their worst loss
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Stocks, U.S. Futures, Copper Drop on France Debt, China Growth
San Francisco Chronicle
Oct. 18 (Bloomberg) — European stocks, US index futures and commodities fell as Moody’s Investors Service said France’s Aaa rating is at risk and China’s economic growth slowed. French bonds slid, while Treasuries and German bunds rose.
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U.S. Stocks Fall as IBM Slumps; Commodities Drop on China Growth
San Francisco Chronicle
Oct. 18 (Bloomberg) — US stocks retreated for a second day as International Business Machines Corp. reported earnings that trailed analysts’ estimates and commodities fell after growth in China slowed. Treasuries rose, while French bonds dropped on
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Treasuries Advance Amid Turmoil in Europe, Slow Growth in China
BusinessWeek
By Susanne Walker and Cordell Eddings Oct. 18 (Bloomberg) — Treasuries rose, pushing yields on 10- and 30-year securities to the lowest levels in a week, as investors sought refuge from turmoil in Europe and slower growth in China. US government
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Colombia-U.S. trade agreement helps China?
CNN International (blog)
“The US imposed safeguards [on China] in the World Trade Organization to protect its national industry.” China and the US have been involved in a trade dispute over steel products for more than a decade. Chinese products have to pay import duties that
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Promoting Effective ChinaUS Strategic Nuclear Dialogue
Carnegie Endowment for International Peace
The ChineseUS track 1.5 dialogues allowed the SA to send its officers to observe how people from different countries discuss sensitive strategic nuclear issues. The early observers from the SA, who were mostly officials in charge of foreign affairs,
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How soon will Chinese developers outpace their US counterparts?
VentureBeat
Currently, United States-based developers outscore their competitors in China when tested on common programming languages. However, the US devs lag behind in math and logic. A new study from Gild, a service for creating and comparing developers’ skill
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Will Chinese airlines drop the Boeing 787 Dreamliner?
USA Today
By Ben Mutzabaugh, USA TODAY China Southern Airlines says it may modify – or even cancel – its order for 10 Boeing 787 Dreamliners if the already delay-plagued aircraft suffers further delays. China Southern says it expects the delivery of its first
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Oil turns higher with Wall Street; China GDP weighs
Reuters
By David Sheppard NEW YORK (Reuters) – Brent oil rose on Tuesday, turning higher after hitting a one-week low as strong bank earnings lifted markets and outweighed concerns about weak Chinese economic data. US crude outpaced Brent’s gains as part of an
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Wholesale US Prices Rise More Than Forecast
Bloomberg
By Shobhana Chandra – Tue Oct 18 12:48:53 GMT 2011 Wheat is loaded into a wagon in Kirkland, Illinois, US Slower growth from China and Europe to the US means demand for raw materials will probably moderate, helping limit further gains in prices.
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USChina co-op crucial in difficult times: Kissinger
China Daily
NEW YORK – The cooperation and strategic trust between the United States and China are critically important in times of difficulty, former US Secretary of State Henry Kissinger said here Monday. “The future of the world depends on the relationship
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Ex-Dow Scientist Admits to Economic Espionage, US Says
BusinessWeek
“Mr. Huang used his insider status at two of America’s largest agricultural companies to steal valuable trade secrets for use in his native China,” Assistant US Attorney Lanny Breuer said in the statement. Huang entered guilty pleas today in two
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US senator accuses China over solar jobs
Optics.org
He says that the cost structures of US and Chinese producers are actually very similar, once shipping costs are taken into account. “Government central planning and massive state subsidies and sponsorship have enabled Chinese manufacturers to drive
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U.S. stock futures slip; China, earnings in focus
MarketWatch
By MarketWatch US stock futures are mostly lower Tuesday after data show China’s economic growth slowed in the third quarter, and ahead of a batch of earnings reports from major American corporations. See full story. US wholesale prices rose sharply in
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China, US need to further promote co-op on IP: Chinese trade official
People’s Daily Online
Exchanges on IP between China and the United States started in the 1980s, and bilateral discussions have moved deeper since the establishment of the IP working group of the ChinaUS Joint Commission on Commerce and Trade in 2004, which helped promote
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Gold drops 1.5 percent on China slowdown, EU worries
Reuters
Also weighing down on gold was news of China’s growth slowed in the third quarter to its weakest pace in more than two years. Also, US investment bank Goldman Sachs posted a quarterly loss, only its second as a public company.
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GM’s China sales top 2 million mark this year
Chicago Tribune
Through September, GM sold just over 1.9 million vehicles in the US, according to Autodata Corp., so US sales are running at about the same pace as China. China overtook the US to become the world’s biggest auto market, by sales of new vehicles,
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Thailand Seeks US, China’s Support For Flood Relief Operations
Bernama
BANGKOK, Oct 18 (Bernama) — The Thai government has sought support from the United States and China for flood relief operations, as inundations have remained in several provinces and flows of floodwater have been approaching some areas in Bangkok and
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CANADA FX DEBT-C$ strengthens as stock markets, oil, rally
Reuters
Wall Street’s rise and earlier data showing better-than-expected US producer prices. “Everything is looking quite rosy despite some jitters overnight about weaker GDP in China and doubts about this European package,” said Blake Jespersen, director,
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Soybean futures fall as China GDP, US crop outlook weigh
Moneycontrol.com
Forexpros – Soybean futures were down sharply for a second day on Tuesday, slumping to a four-day low after official data showed that China’s economy grew at the slowest pace since 2009, while easing concerns over US soybean crops also weighed.
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Chile’s Peso Slides After Copper Falls on China’s Slowing Growth
BusinessWeek
By Sebastian Boyd Oct. 18 (Bloomberg) — Chile’s peso weakened against the dollar for a second day as copper dropped after growth in China, the biggest buyer of the metal, slowed to a two-year low. The peso slid 1.8 percent to 513.04 per US dollar as
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Gap to close 200 US stores, expand in foreign markets
The Star-Ledger – NJ.com
By AP NEW YORK — Gap Inc. plans to close stores in the US, while expanding in China. 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
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China’s GDP Slows in 3Q, Asian Equities Stumble Following Europe, US
FXstreet.com
We have also seen China’s key trading partners such as the Euro-zone and the US slowdown as well. That’s the slowest growth rate in 2 years. Still, because the possibility of recession in Europe and the US have diminished there’s a chance that China’s
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Geithner and China’s Wang discuss economy in phone call-report
Reuters
The US Treasury Department said on Friday it would delay until later this year a ruling on whether China is manipulating its yuan currency, which Democratic Party lawmakers have sought to target in a bill that would punish Beijing for foreign exchange
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FTSE LIVE: Stocks suffer France rating, China growth and US earnings blows
This is Money
Bellway, Next Fifteen Communications: Scheduled to release full-year results. Arcontech Group: The financial market data processor holds its annual general meeting. Setback : A slew of poor news from China , the US and France has put.
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Deterrence key to curbing China, report says
Taipei Times
By J. Michael Cole / Staff Reporter Armed conflict between the US and China during the next 20 years is improbable, provided Washington retains the capacity to deter behavior that would lead to such a clash, a US think tank says in a new report.
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Foreign Firms Feel China’s Heat
Wall Street Journal
By LAURIE BURKITT BEIJING—Wal-Mart Stores Inc.’s woes in a major Chinese city could be a sign of an increasingly tough path for US companies there, China watchers say, as local governments grow more assertive while the central government bolsters
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Campaign China-bashing obscures real problems
BusinessWeek
Newt Gingrich and some other candidates are also painting China as the bogeyman responsible for America’s economic ills. Former Ambassador to China Jon Huntsman is playing the foil, warning against actions that could prompt a trade war.
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US Entrepreneurs See Great Investment Opportunities in China
CRIENGLISH.com
“Asia, including China, possesses abundant energy resources,” John S. Watson, CEO of Chevron Corporation, said Monday at the 45th Anniversary Gala of the National Committee on USChina Relations. “We’ve dedicated a significant portion of our long-term
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Chinese Stocks in the US: Canada Solar, China Eastern, Shanda
BusinessWeek
By Veronica Navarro Espinosa Oct. 17 (Bloomberg) — The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, fell 2 percent to 368.12. The American Stock Exchange China Index dropped 1.4 percent to 219.52.
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China Can Maintain Mideast Relations Without Challening US Position
Harvard Crimson
In the Iran-Iraq War, China supplied weapons to both sides but was Iran’s primary arms supplier. China did not back down from this position despite US demands, according to Garver. From a policy perspective, Garver said China views US military actions
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Debt panic in China’s Wenzhou may predict wider woes
USA Today
of what some have dubbed China’s own subprime debt crisis, a festering mess of borrowings gone sour that has become one of the weakest links in the economy — at a time when strength here is most needed to offset weakness in the US and Europe.
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U.S. not “trying that hard” on exports: GE’s Immelt
Reuters
Immelt is confident that US business can compete with rivals in emerging markets such as China and also profit in developing markets. He cited Russia as a major focus over the next decade and said GE is also investing in resource-rich African countries
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Instant view: Bank of America posts $5.9 billion profit
Reuters
(Reuters) – Bank of America Corp, the largest US bank by assets, reported a $5.9 billion third-quarter profit after selling shares of China Construction Bank and recording two accounting gains. “We’re still going through the numbers, but it looks like
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China pushes exchange rate reform in own way’
China Daily
Addressing at a conference titled “The US– Asia Dynamic in the 21st Century: Challenges Ahead”, the Credit Suisse’s chief regional economist Tao Dong said there is a clear policy intention for China to speed up the real exchange rate appreciation,
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ADR REPORT-Shares edge higher, but China data weighs
Reuters
The BNY Mellon index of leading Latin American ADRs gained 1.2 percent even as Latin American shares fell over concerns related to China and Europe. The index was lifted by strength in telecom shares, with Brasil Telecom up 7.4 percent to $19.79 and
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US urges end to abuses of Myanmar minorities
Boston Globe
Sanctions and isolation have failed to force change and served only to complicate US engagement with the economically vibrant Southeast Asian region, as Washington looks to deepen its existing alliances and forge new ones to counter China’s rise.
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Goals of US ‘Return-to-Asia’ strategy questioned
People’s Daily Online
First, it should learn to get along with China. Its “return” to Asia has drawn people’s attention back to a possible confrontation between itself and China. Many Western scholars believe that the reassertion of the leading US role in Asia is directed
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Alibaba CEO Jack Ma says company has cash to buy Yahoo
San Jose Mercury News
But an acquisition of Yahoo by a company from China, whose Communist leaders place restrictions on the flow of political and other information deemed sensitive, would raise a host of thorny issues and could be opposed by Washington. US regulators have
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