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U.S. China News 2011.10.19

Wed, October 19, 2011

China-bashing nothing new
Washington Post
In an opinion piece in The Washington Post last week, Romney bluntly accused China of stealing American intellectual property, blocking access to US companies and hacking into foreign computers. Romney is not alone. Jon Huntsman Jr., the former US
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On trade mission to China, US governors say please
Reuters
“Actually, I am surprised that it didn’t come up more in our conversation,” she told Reuters on the sidelines of the second USChina Governors Forum in Beijing. Last week, the US Senate approved a bill to pressure China to raise the value of its yuan
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US solar firm launches trade action against China
AFP
WASHINGTON — In a new show of anger at China’s allegedly unfair trade practices, a major US maker of solar cells and panels announced Wednesday it was filing a formal trade complaint targeting Beijing. The action by SolarWorld Industries America,
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China says US yuan bill violates trade rules
Reuters
“If the United States insists on doing things in its own way, it will harm ChinaUS relations and the long-term benefit of people from the two countries. China will have to take further actions,” he added. The currency bill is unlikely to become law,
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US pushes China to explain commercial Internet curbs
Reuters
WASHINGTON (Reuters) – The United States is pressing China to explain why its “national firewall” blocks so many US companies from providing their services, according to a letter obtained Wednesday that is another sign of growing trade tension between
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China looks to increase U.S. wheat imports
Western Farm Press
In just the first four months of the current marketing year, China has imported more than 11 million bushels of US wheat including 5.3 million bushels of HRS, 2.6 million bushels of SW, and 3 million bushels of soft red winter (SRW) wheat.
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Talk of the Day — Apple suppliers fall prey to ChinaUS trade war?
Focus Taiwan News Channel
Citing international financial institutions, the Commercial Times said Taiwanese metal casing manufacturer Catcher Technology, a major company in the Apple supply chain, may have been the first victim of a looming ChinaUS trade war.
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China scientist in US trade theft
BBC News
A Chinese scientist, Kexue Huang, has admitted to stealing trade secrets from two US firms and sending them to China and Germany. Mr Huang has been charged with economic espionage for stealing secrets on a pesticide and a new food product being
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China is Apple’s second most important market after US
Appolicious
It also laid bare the fact that Apple is making a whole lot of its money from customers in China. In fact, while the US is still Apple’s largest market, China is its second-largest and accounted for 12 percent of its $28.7 billion in revenue in 2011.
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US forum debates issue of ‘abandoning’ Taiwan
Taipei Times
Taiwan, he said, was potentially very dangerous because it could sour US relations with China. Charles Glaser added that pulling back from Taiwan had the potential to improve USChina relations. Bonnie Glaser and Charles Glaser are not related.
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US Tops China in Programming, but Lags in Math, Logic
eWeek
Gild, a social networking and skills sharing site for developers, has announced a study comparing US and Chinese developers that showed that Chinese developers lead Americans in some categories but lag in programming skills.
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USTR’s Kirk: China Internet Restrictions May Hurt US Businesses
Wall Street Journal
By Tom Barkley Of DOW JONES NEWSWIRES WASHINGTON (Dow Jones)–US Trade Representative Ron Kirk warned Wednesday that China’s Internet restrictions could be hurting US businesses seeking access to the Asian giant’s market. Kirk said the US is seeking
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US states balance China as both partner and rival
BusinessWeek
The US Senate voted last week to threaten China with higher tariffs because of a dispute surrounding its currency valuation, and Republican presidential candidate Mitt Romney has accused China of stealing American inventions. Gregoire worries about the
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China quizzes audit giants on foreign regulator contact
Fox Business
The move is set to ratchet up tensions between the financial regulators of America and China following a string of accounting scandals at US-listed Chinese companies. Last month the US Securities and Exchange Commission (SEC) asked an American court to
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NYMEX-US crude rebounds, shrugs off China, Europe
Reuters
China Q3 GDP rises 9.1 pct against forecast at 9.2 pct * Bank shares pull up Wall Street, supportive for crude * POLL: US crude stocks seen up, products down last week * Coming up: API oil stocks data, 4:30 pm EDT Tuesday NEW YORK, Oct 18 (Reuters)
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US and Philippines test China’s military nerves
The Voice of Russia
The US and the Philippines are carrying out large scale military exercises near the Spratly Islands in South China sea, which are reported to be an energy trove. Washington and Manila say that the exercises do not pose a threat to Beijing.
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Trade Wars, Asian Inflation May Hinder US Growth
NewsMax.com
And by challenging China, the United States will turn away the largest holder of its debt and the continual buyer of US debt. Annoy China too much and the consequences can become even more stifling. In an environment where the growth has stalled at
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India’s Message to China and the United States: We’ll Go It Alone
Council on Foreign Relations (blog)
We covered a fair amount of the US-India political waterfront, including bilateral relations, China, Pakistan, and broader Asia. The discussions were quite lively: a great thing about foreign policy experts in India is that there are as many opinions
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Making It in America
Huffington Post (blog)
But there is growing evidence that China’s challenge to US manufacturing has peaked, and its competitive advantage is in decline. A recent report from the Boston Consulting Group (BCG) offers persuasive evidence that the tide is now moving against
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US National Security Advisor to visit China, India this week
Associated Press of Pakistan
WASHINGTON, Oct 19 (APP) : US National Security Advisor Thomas E.Donilon will travel to China and India this week, beginning Friday with a visit to Beijing, the White House said. In Beijing, President Obama’s top security advisor will have meetings
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China Steel: Planning US$2.2 Billion-US$2.5 Billion Overseas Buys Over 4-5 Years
Fox Business
By Fanny Liu TAIPEI -(Dow Jones)- Taiwan’s China Steel Corp. (2002.TW) plans to invest US$2.2 billion-US$2.5 billion in acquiring overseas iron ore mines over the next four to five years, a company official said Wednesday. Taiwan’s top steelmaker by
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US, China, Japan, India to Gain as Britain Loses Patent Rights for Embryonic
International Business Times
The ruling is likely to push investments in stem cell research to countries outside the European Union, such as the US, China, Japan or India. The turning point of the hearing appeared to be the sentiment that embryo could be defined as a state “when
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Yi: China’s first space lab a wake-up call for the U.S.
Zanesville Times Recorder
As BBC News reports, “the US launched its first astronaut in 1961 and its first space station in 1973, and at just over eight tons, Tiangong-1 is smaller than the American Skylab station launched in 1973. If the United States and China are in a space
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China, Audio, and Connected Consumers: Web 2.0’s Big, Big Trends
PC Magazine
Worldwide, more and more users are also going online from a mobile device, with the strongest growth in India (over 1000 percent) and China (172 percent). In terms of total subscribers, the US is tops with 179 million users, and Japan is second,
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US Trade Disputes Don’t Stop The WTO From Giving China An A+
Business Insider
The WTO Director-General Pascal Lamy commended China for its application of the WTO’s rules during his visit to Sichuan University according to China Daily. Although, Lamy does note that China has not applied the rules 100% of the time. China, the US
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BRANDON FITZPATRICK: 4th-quarter world outlook: China will grow as US lags
The Idaho Statesman
For this quarter, we focus on the most important issues driving financial markets today: the sovereign debt and banking crisis in the eurozone, the possibility of slower growth in China, and the lingering recession in the United States.
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Chinese Stocks in the US: Ctrip.com, New Oriental, PetroChina
BusinessWeek
By Belinda Cao Oct. 18 (Bloomberg) — The Bank of New York Mellon China ADR Index, which tracks American depositary receipts, rose 0.9 percent to 371.47. The New York Stock Exchange Arca China Index added 1.6 percent to a three-week high of 222.96.
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Yuan ends up slightly vs dlr but appreciation hopes wane
Reuters
But expectations of yuan appreciation in the near term were waning amid continued wrangling between China and the United States over the value of the yuan on the political front, traders said. A senior Republican lawmaker on Tuesday announced a US
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US Blocks Chinese Company From Contract Bid: Worried China Might Spy On US
Techdirt
The US government seems to have forgotten this in banning Huawei from bidding for a major US telecommunications contract: Worried about potential spying, the US government has blocked a bid from China’s telecommunications giant Huawei to help build a
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China, Europe move markets down, up
Vancouver Sun
By Kim Covert, Postmedia News October 19, 2011 China and Europe were the main North American market movers on Tuesday. Worse-than-expected GDP numbers from China brought markets down in the morning, while news that France and Germany have reached a
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North Carolina governor seeks expanded investment
China Daily
By Liu Yiyu (China Daily) NEW YORK – During a six-day visit to China for the ChinaUS Governor’s Forum, the governor of North Carolina will attend 25 meetings with Chinese companies that are at various stages of expansion in the state, part of North
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US soybeans rise after two days of losses
Reuters Africa
“There is not a big correlation between Chinese GDP and soybean import demand, China’s population is still growing and animal numbers are increasing.” Wheat and corn were also firm, partly because of a weaker dollar which would make US supplies more
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Big boost for Chinese steel
Sacramento Bee
Chinese companies are at work everywhere in America, even securing special visas to bring people into the country. China Construction America Inc. (CCA) built the Lake Marion High School and Technology Center in Orangeburg County, SC CCA is a wholly
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Romney: Let’s Cut Humanitarian Foreign Aid and Get China to Step Up
The Weekly Standard (blog)
“I happen to think it doesn’t make a lot of sense for us to borrow money from the Chinese to go give to another country for humanitarian aid,” Romney said. “We ought to get the Chinese to take care of the people that are….” he said, trailing off.
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How One U.S. Firm Found Salvation in China
U.S. News & World Report (blog)
“But if not for China, I’d be singing a different song.” If more small businesses were able to follow Lifescapes overseas, the US economy might not be in such a rut. Globalization has been a boon for big companies, allowing them to save money by
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US Looks Ready to Re-engage North Korea
New York Times
A concern has been that North Korea would try again to manipulate any differences in interests among the other parties to the six-party nuclear talks – the two Koreas, the United States, Japan, Russia and China. But at this point, any differences,
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China’s economy strong while US and Europe face recession
Press TV
With the US and Europe looking at another recession, China is expected to account for a full quarter of global growth next year. Since the financial crisis struck in 2008, a policy objective has been the building of a domestic market, to take up slack
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Emerging markets boost U.S. aerospace
MarketWatch
“The developed economies have certainly slowed across the last few months, and commercial was weak in the US and Europe,” said Hayes. “But the economies in China, India and Brazil — slowing slightly, are still delivering growth rates well above
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Hong Kong Stocks Rise on Earnings Optimism, China Speculation
BusinessWeek
China Unicom (Hong Kong) Ltd., the nation’s only carrier offering the iPhone with a service contract, increased 2.8 percent. Apple said China has become its largest market outside the US as the iPhone maker opened an online store last year and six
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Fixing America in five steps
FM blog (blog)
The credit crunch initiated in 2007 in the subprime mortgage market in the US had devastating spill-over effects for China’s exports. The scarcity of USD, due to the repatriation and deleveraging flows into the American financial system caused a sudden
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Former MM Lee Kuan Yew receives Lincoln Medal
Channel News Asia
Former Minister Mentor challenged the United States to be forward-thinking about one of its modern relationships. China’s rise, he argued, will be the most dramatic global event of this century. Mr Lee said: “To grow, China needs American markets,
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