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U.S. China News 2011.10.24

Mon, October 24, 2011

China Urges North Korea to Improve US Ties
Wall Street Journal
AP BEIJING—China urged ally North Korea to improve its strained ties with longtime foes the US and South Korea, state media reported Monday, as US and North Korean diplomats began talks about restarting negotiations on the North’s nuclear programs.
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U.S. defense chief eyes “reckless” Pyongyang, China buildup
Reuters
By Phil Stewart YOKOTA AIR BASE, Japan, Oct 24 – Defense Secretary Leon Panetta ruled out troop cuts in Asia as part of US belt-tightening as he arrived in Japan on Monday, flagging concerns about a “reckless” North Korea and Chinese military
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America and China: A Strange Relationship Between Buyer and Seller
Forbes
China and America have become exactly such a seller and buyer. China, the world’s biggest seller, sells cheap Christmas ornaments, cheap iPhones, cheap Gap shirts, and cheap Nike shoes to America. All Chinese know that the same pair of Nike shoes costs
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China Market Still Growing For US Companies
Forbes
The companies expect more of the same again this year, the US China Business Council said on Monday. “US companies continue to experience healthy market growth in China. Eighty percent of respondents reported double-digit revenue growth in 2010,
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Why China slashed its US debt holdings
People’s Daily Online
US dollar assets make up nearly 70 percent of China’s 3.2 trillion US dollars of foreign exchange reserves, and the European and US debt crises have exposed the risks of such an imbalanced reserves structure. China is ‘kidnapped’ by US debt and needs
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China Has More Shale Gas Than US, But Faces Bigger Technological
Treehugger
However, techniques that work in the US have to be adapted for the Chinese conditions. Water shortages and lacking pipeline infrastructure also constrain development of fracking there. As in the United States, China’s shale market developments are
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BYD Opens North American Headquarters in City of Los Angeles
MarketWatch (press release)
Based in Shenzhen, China, BYD employs more than 200000 worldwide. BYD’s new North American headquarters, located along the Figueroa Corridor, will bring up to 150 green-collar engineering and management jobs focused on research and development to Los
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US solar firms accuses China of dumping solar modules in the US
Renewable Energy Focus
This action against unfair trade practices could be one of the largest against China in the USA, and is believed to be the first in the field of renewable energy worldwide. Dr.-Ing. Eh Frank Asbeck, Chairman and CEO of SolarWorld AG, says: “Our German
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Analysis: Dragon tail risk: The cost of a China crash
Reuters
A full-blown crash, which BofA-Merrill described as a 6 percentage point drop in China’s real per capita GDP, would harm Europe’s biggest economies — Germany, France and Britain — and even nick US growth. It would probably shave 0.8 percentage points
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US Corporate Credit Risk Benchmark Falls to Lowest in a Month
BusinessWeek
By John Parry Oct. 24 (Bloomberg) — A benchmark gauge of US corporate credit risk fell to its lowest level in more than a month as Caterpillar Inc.’s earnings beat estimates and manufacturing data in China signaled growth in Asia.
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Bonds weaken on good news from US, China
Sydney Morning Herald
Australian bond prices have fallen after the release of positive Chinese manufacturing data and the US government saying it will try to stimulate its stalling housing sector. At 1630 AEDT on Monday, the December 10-year bond futures contract was
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China outplays Europe, US in Africa
Mail & Guardian Online
If American and European firms want the same access to African energy, mineral and agricultural products, they might have to behave a bit more like Chinese firms that work closely with their government in making promises of development and
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China’s HNA Has $6.3 Billion Warchest for Europe, US Deals
BusinessWeek
By Jasmine Wang Oct. 24 (Bloomberg) — HNA Group, the Chinese investor in aviation, shipping and hotels, said it has access to as much as 40 billion yuan ($6.3 billion) of credit lines to support acquisitions in Europe and the US “HNA is ready,” said
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China Hopes DPRK-US Contact Helps Restart Nuclear Talks
CRIENGLISH.com
On Monday, China called on the Democratic People’s Republic of Korea (DPRK) and the United States to create conditions for the restart of six-party talks and a proper solution to relevant issues. Foreign Ministry spokeswoman Jiang Yu made the remarks
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U.S. watchdog warns on China audit inspections
Reuters
(Reuters) – Talks between US and Chinese regulators about joint inspections of audits of US-listed Chinese companies have hit “new bumps in the road” said the chief of the US audit industry watchdog on Monday. Chinese officials have put off meetings on
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Oil Rises to Two-Month High on Economic Growth in China, Japan
BusinessWeek
By Moming Zhou Oct. 24 (Bloomberg) — Crude oil rose to a two-month high, exceeding $90 a barrel as data showed economic growth in China and Japan and as US equities rose to the highest level in almost 12 weeks. Oil climbed as much as 4 percent in
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China flash PMI rebounds to ease hard-landing fears
Reuters
China is vulnerable to fading demand from the United States and Europe, its two biggest export markets. China’s trade surplus narrowed in September for the second straight month and annual exports growth to the European Union more than halved compared
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CANADA FX DEBT-C$ strengthens amid Europe optimism, China PMI
Reuters
* C$ at C$1.0068 vs US$, or 99.31 US cents * Europe optimism, China PMI spurs risk appetite * Bond prices mostly higher By Andrea Hopkins TORONTO, Oct 24 (Reuters) – The Canadian dollar edged higher against its US counterpart on Monday as investors bet
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China’s Wal-Mart sanctions: A trend against foreign firms?
USA Today
For American companies, a recently passed US Senate bill — which would impose new tariffs on imports from nations with undervalued currencies — could increase tensions with China. US lawmakers charge that China’s undervalued currency gives its
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Asia’s USChina Dilemma
World Politics Review
Essentially this balance boils down to providing the reassurance of a long-term US commitment to the region — as articulated in Clinton’s article — without demanding a public and binary choice between the US and China. Of course, decisions made in
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AP Exclusive: Note shows big power split over Iran
Boston.com
Russia and China are urging the chief UN nuclear inspector to scrap US-backed plans to reveal intelligence on Iran’s alleged nuclear arms experiments in a bluntly worded confidential document obtained Monday, Oct. 24, 2011, by The Associated Press.
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Obama Continues Bush Policy — Refuses Taiwan New F-16s
The New American
China’s US debt holdings also likely influenced the decision. In February 2010, Chinese military leaders demanded that the United States be punished for arms sales to Taiwan by calling in some of the $1.1 trillion in China’s Treasury debt holdings.
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Missouri reaches $4.4B trade agreement with China
Springfield News-Leader
In addition, St. Louis-based Peabody Energy Corp. explained its operations in China. Nixon is scheduled to meet with the US ambassador to China and speak to the American Chamber of Commerce in Beijing and travel to Missouri’s sister province of Hebei,
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Australia’s future hostage to USChina rivalry
The Age
They blithely assume that America can continue to dominate Asia strategically even after China overtakes America as the world’s richest state, and that Australia’s relations with China will be unaffected by our support for a US policy towards China
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What’s Next for American Solar Manufacturers?
Motley Fool
For example, many Chinese solar power manufacturers may find the initial steps, including the production of a polysilicon wafer, cheaper to do in China before shipping to the US for final production. Industry analysts warn the consequences of the trade
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China Automotive Systems to Form Joint Venture in Brazil
PR Newswire (press release)
This joint venture will enable us to capitalize on the significant growth opportunities presented by Brazil and South America, as a whole.” Based in Hubei Province, the People’s Republic of China, China Automotive Systems, Inc. is a leading supplier of
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Brown: ‘Ohio Manufacturers Can’t Wait for More Excuses’
WKBN/WYFX-TV
Sherrod Brown, the bill’s lead sponsor, said the US has lost millions of jobs, and Ohio nearly 100000, to China due to that country’s illegal practice of devaluing its currency against the United States dollar. The bill, called the Currency Exchange
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Designed in New York, made in Dongguan
Reuters
It could be the perfect story to show how China Inc and its American partner can work together for a win-win result, but Chinese consumers are having second thoughts on this. Earlier this year, upscale US handbag and accessory maker Coach said it
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US Is ‘Laughingstock’ On Trade Issues: Donald Trump
CNBC.com
Consistent with a long-standing series of broadsides against the American standing in the world business community — particularly next to his favorite target, China — Trump said the US needs to get tougher. “It used to be years ago we’d only make
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GRAINS-Buoyed by euro-zone deal hopes, China data
Reuters
US grain and soybean futures rose over 1 percent on Monday in a broad commodities rally as investors bet that European leaders would reach a deal to tackle a euro-zone debt crisis and took heart from an improved manufacturing indicator in China.
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WuXi PharmaTech Acquires China-Based Clinical Research Services Companies
MarketWatch (press release)
WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical,
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A blog about the world, its people and its politics
TIME (blog)
So when the Occupy Wall Street (OWS) protests laid bare American disaffection with the country’s imbalanced financial system, China’s official press blasted US reporters for failing to cover the movement adequately. On Oct. 14, the Xinhua News Agency,
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‘Who lost Iraq’ is the wrong question
CNN
Denver (CNN) — In 1949, the communist takeover of China was the beginning of another campaign in the US: Who lost China? It went on for years. The failure to conclude an agreement to maintain US troops in Iraq is already becoming grist for critics to
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Stocks, U.S. Index Futures, Commodities Rise as Euro Weakens
San Francisco Chronicle
Stocks and commodities also gained after reports showed China’s manufacturing may grow in October for the first time in four months and Japanese exports rose more than expected last month. “It was encouraging that there was no clear sign of divisions
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U.S. Stock Futures Advance as Europe Crisis Talks Progress
San Francisco Chronicle
Oct. 24 (Bloomberg) — US stock futures climbed on signs of stronger growth in China and Japan and as European leaders moved toward a solution to the debt crisis. Caterpillar Inc. advanced and Texas Instruments Inc. slipped in Germany before reporting
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Trina Solar Response to Trade Action Filed in the United States
Sacramento Bee
Trina Solar, among other Chinese suppliers, was identified as an exporter of these products to the United States market. Trina Solar believes the allegations made by the US petitioners will eventually prove to be unfounded and that Trina Solar’s
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Is America Losing the Clean Energy Race?
National Journal (blog)
One top House Republican, Cliff Stearns of Florida, suggested that America has already lost. He told NPR earlier this month, “We can’t compete with China to make solar panels and wind turbines.” Last week, a coalition of US-based solar manufacturers
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NearShoring Strategy Will Boost U.S. Manufacturing Jobs
MFRTech (press release)
Kuehl reports the BCG study cites three factors expected to drive this process – the rising costs of production in China, the rising costs of transportation, and the improved efficiency and productivity in the US and Europe.
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Luxottica to keep with M&A path in 2012
Reuters
Guerra said the key US market, where Luxottica is also listed, was in “great shape.” In China, Luxottica expects to open between 60 to 70 new stores in 2012 after 60 new openings this year. Guerra confirmed his indications in March that profits could
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Obama’s answer to globalization: Demagoguery
CBS News
Not her fault that millions of $1-per-day Chinese were more than willing to compete with her, and that Walmart snapped up their products, triggering a massive shift of wealth from the US to China, and from producers to consumers.
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Barney Frank returns to Taunton with town hall forum, continues support for
Taunton Daily Gazette
Frank also informed the crowd that while the US spends over $700 billion on military, China spends around $100 billion, and for European countries like France and Russia it is around $50 billion. “The fact is that we are spending in our defense budget,
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