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U.S. China News 2011.10.23

Sun, October 23, 2011

Panetta praises China for “professional” handling of latest US arms sale to Taiwan
Washington Post
BALI, Indonesia — In unusual praise for China, US Defense Secretary Leon Panetta said Sunday that Beijing deserved credit for its relatively mild response to Washington’s announcement last month of a $5.8 billion arms sale to Taiwan.
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US, Filipino marines hold combat drill near South China Sea shoal disputed by
Washington Post
SAN ANTONIO, Philippines — More than 200 US and Filipino marines staged an amphibious assault on a beach in a combat drill Sunday near a South China Sea shoal disputed by China and the Philippines. US Marine Brig. Gen. Craig Timberlake said the
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Buffett’s Chinese Car Investment Fails to Bring Los Angeles Promised Jobs
Bloomberg
BYD’s delays in starting retail auto sales mirror earlier difficulties China’s Geely Automobile Holdings Ltd. and Chery Automobile Co. had entering the US Neither company has begun selling Chinese-made autos in the country.
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`Two-front war against India possible`
Zee News
Kamna: How is China taking advantage of the tensions between Pakistan and the United States? Dr Pant: As Pakistan comes under pressure from the US, it is signalling that it has other options and China is doing its best to project itself as a benign
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CIDB: US$10 bln China-Asean infrastructure fund interesting
The Sun Daily
They have US$10 billion, of which only US$1 billion has been utilised. “It’s a very interesting fund because it is available for us to apply,” he told Malaysian journalists after participating at the China-Asean Investment and Financing Cooperation
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Bible-Based Subterfuge in USChina (Religious) Relations
American Thinker
Perhaps the many DC-area ChineseAmerican congregations who rejected the invitation to host the exhibition reached the same conclusion. The objectives of the CCP’s state-owned religious organizations are twofold: (1) to maintain control over the
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China’s Li prods North Korea on improving regional ties
Reuters India
Beijing has throughout stood by the neighbouring North, which it regards as a brittle but vital bulwark against the United States and its allies. But China has also tried to build ties with South Korea, a much more important trade partner,
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Camp announces China trade hearing
Midland Daily News
Congressman Dave Camp, R-Midland, announced that the Committee on Ways and Means will hold a hearing on the USChina economic relationship. The hearing will be 10 am Tuesday. The hearing will focus on the significant opportunities presented by the
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Zhang and Zhang lead pairs at Skate America
Golden Skate
China’s Dan Zhang and Hao Zhang perform to a “A Transylvanian Lullaby” by John Morris for their Short Program. The pairs short program competition at Skate America this evening in Ontario, Calif., was perhaps the closest finish since the new judging
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Ebay finally gaining traction in China
San Jose Mercury News
“We do the vetting,” Liao said. “We do the verifications. This is our job in China.” In the US, federal courts have ruled that eBay isn’t liable for counterfeit products sold on its website, though in Europe, the company has been held responsible.
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World power swings back to America
Telegraph.co.uk
As US reliance on the Middle East continues to drop, Europe is turning more dependent and will likely become more exposed to rent-seeking behaviour from oligopolistic players,” said Mr Blanch. Meanwhile, the ChinaUS seesaw is about to swing the other
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China’s uneasy relationship with business neighbours
BBC News
But far away in the markets and shops in Jakarta’s busy commercial district is evidence of just how important the China-ASEAN free trade deal is for those of us living in this region. I was out on my weekly jaunt to one of Jakarta’s huge hyper-markets.
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EU leaders threaten Iran and Syria with more sanctions
Reuters
Ashton has been leading efforts on behalf of the United States, Britain, France, Germany, as well as China and Russia, to negotiate with Tehran over its nuclear activities, which the West believes is aimed at building atomic bombs.
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Challenges between China, US topic of panel
Casper Journal
An interdisciplinary panel of experts will gather at 7 pm Wednesday, Oct. 26, in the University of Wyoming Outreach Building, to discuss “Understanding the ChinaUS Challenge: Globalization, Economic Development, and a Future of Shared Dependence.
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Birmingham to build on US relationships
Financial Times
By John Murray Brown The city of Birmingham is bucking the trend by switching its drive for inward investment away from China and India to focus on the US, where the west Midlands region has been losing ground in recent years.
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‘Made in USA‘ reappears at market
Greensboro News & Record
In addition, wages in China have been rising by 15 percent to 20 percent a year, making the US more competitive. “We expect net labor costs for manufacturing in China and the US to converge by around 2015,” Sirkin said. “As a result of the converging
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Chinese real estate buyers flocking to Peninsula
San Francisco Examiner
“Some Chinese people came here trying to invest in the real estate area but … they have big trouble in getting the money from China to the US,” said Mark Kang, CEO of Cross Culture Exchange, which takes Chinese business leaders on tours of US
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Our spirit stronger than Chinese soldiers: Tibet PM
IBNLive.com
Karan Thapar: But the problem is that China today is so powerful, no one wants to annoy the Chinese. After all, you’re talking about a country that is the second biggest economy in the world. Chinese money today underwrites the US debt.
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US-North Korea talks gear up in Geneva
Sacramento Bee
The North Korean delegation headed by First Vice Foreign Minister Kim Kye-gwan arrived in Geneva on Saturday after flying to China and Russia. The US delegation is headed by the US top envoy on Pyongyang, Stephen Bosworth, and Glyn Davies,
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INTERVIEW: Wolfowitz praises Taiwan’s democratic legacy
Taipei Times
It’s still not something to take for granted and I think what’s happening here is important for China. It’s commonly said in American policy discourse that Taiwan is an obstacle in USChina relations — and I know what this means — but I think it’s
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Rumor: Tencent Invested US$ 100M in Chinese SNS Kaixin001
Business Insider
Tencent was said to have invested US$ 100M in China’s social networking service Kaixin001, according to people close to Tencent the Chinese internet giant. Founded in March 2008 by former Sina interim CTO, Kaixin001 appeals to China’s white-collar
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Editorial: Call China’s bluff on currency manipulation
Royal Oak Daily Tribune
The US is in a high stakes poker game with China over its currency manipulation that is costing thousands of jobs in America. It’s a game that has been played over and over since the 1990s. In addition to the US and China governments, players in the
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Gallup chief: Prepare for jobs war
Omaha World-Herald
Our problem isn’t the Chinese. It’s us, our deficits.” Warren Buffett, chairman and CEO of the Omaha-based investment company Berkshire Hathaway Inc., has often said the United States can gain from the economic growth in China, where Berkshire has
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China’s crippled financial sector
Livemint
China’s official foreign reserves are increasing at a rate of about $1 billion per business day, almost all of which is used to buy US Treasury bonds and other international assets that carry a minimal rate of return. At the same time,
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China has a record steel output in 2011
Wall Street Journal
In the first eight months, the steel industry in China realized a profit of 32.5 billion US dollars, up 32.6 percent from the same period in 2010. The demand for raw materials, iron ore, chrome ore, coal and ferrochrome for making steel is likely to
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The Bailout That Busted China’s Banks
Wall Street Journal
It starts to sound like China is on the verge of a financial collapse. Consider the parallels to the US circa 2006: A huge binge of cheap credit pouring mostly into asset markets; banks shifting loans off their balance sheets; securitization.
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China’s 9-dash line is map without coordinates
Malaya
Peter Gailbraith, former US ambassador to Croatia and now head of the Windham Resources Group which provides negotiating and strategic services to government and corporate clients, said China’s nine-dash-line “has no basis in international law.
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No dip here so long as China keeps growing
The Australian
ASIA and Australia are likely to survive double-dip recession in Europe and the US — but no one will be spared if China slows significantly. That’s the conclusion of a review after further bad economic news and a warning from the International
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Gov. Buddy Roemer Calls for Withdrawal From NAFTA, WTO
The Market Oracle
It has not been a success, not for us and not for Mexico, which is now losing jobs to China. Ross Perot warned Al Gore in that debate in ’93 that there was going to be a giant sucking sound of job loss, and that’s exactly what’s happened.
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China signals irritation as Europe stares into the financial abyss
Telegraph.co.uk
Global investors have been keeping a wary eye on China, amid concerns the second-largest economy on earth could be heading for a “hard landing”. Having replaced the US and Europe as the world’s economic locomotive, China’s condition now helps shape
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Goldman’s Jim O’Neil On The True State Of The Chinese And US Economies
Business Insider
Good stuff in the latest letter from GSAM chairman Jim O’Neill who remains pretty sanguine about both China and the US. I spent quite a bit of time discussing China at the Texas event, but importantly, there was also a panel discussion from 3 top
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China official in N. Korea to promote talks
英文中國郵報
Total trade between the two neighbors surged an annual 87 percent in the first seven months of this year to US$3.1 billion, he said in an interview with the agency. North Korea depends on China for oil and food. Afterwards Li, likely to take over from
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Chart of The Day: The Slippery Slope of Sliver
Business Insider
China industrial usage, and investment demand partly due to US Fed’s record low interest rates, are cited as the primary reasons to be bullish on sliver. But not everyone buys the China growth story with silver. Morgan Stanley, for example,
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Governors detach from Moberly Mamtek deal
Columbia Daily Tribune
The Moberly Area Economic Development Corp. and the Midwest USChina Association, of which Holden is chairman, touted the project. Both groups’ websites continue to portray Mamtek as a success story. The Midwest USChina Association’s site highlights
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Occupy Movement Points To A Fundamental Failure In Our System
Forbes
The price of leather is what it is whether one is in China or the US, and the same is true most other costs. Wages are the one thing that can be changed and in a big way. If a manufacturer moves from the US to China, his or her labor costs drop
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Why is compassion for others often so hard to come by?
Victoria Times Colonist
But this is not a uniquely Chinese travesty. Shame on China, undoubtedly. But shame on us, too. The Bystander Effect originated in North America with a brutal murder. In 1964, Kitty Genovese was stabbed to death in a New York apartment complex.
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At least two Idaho manufacturers are bringing a small number of jobs back to
The Idaho Statesman
China’s cheap labor and its artificially cheap currency — intended to foster industrial growth — are being offset in the US by more automation, increasing freight costs, needs to be closer to resources and customers, and a surging interest in
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Several Chinese sponsors who have been feeding students to an executive
Springfield News-Leader
Baker said MSU officials are planning to visit the Chinese sponsors and reassure them of the quality of the program. A few days after the stories were published locally, a US-based Chinese language newspaper Sing Dao Daily apparently picked up the
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France seeks to sway German veto on ECB bailout role
Reuters
Pressure has grown from Europe’s partners in the G20 to find a definitive solution after months of wrangling which have roiled markets and threatened the world economy, with China and the United States voicing frustration in recent days.
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Costly Iraq war may mark shift in US approach
The Associated Press
But a US invasion of Iran, on a scale like Iraq, seems highly unlikely for now. There are other troublesome security challenges facing the US, including in Asia where China is expanding its military and asserting its influence.
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Hamid Karzai: Afghanistan Would Back Pakistan In US War
Huffington Post
He said his country was indebted to Pakistan for taking in millions of Afghan refugees over the years and stressed that Kabul would not allow any nation – be it the US, India, Russia, China or anyone else – to dictate its policies.
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