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U.S. China News 2011.10.25

Tue, October 25, 2011

USTR says China policies “hobbling” US business
Reuters
Washington has also made progress on a number of trade irritants in two high-level USChina forums — the Joint Commission on Commerce and Trade and the Strategic and Economic Dialogue — that meet each year, Marantis said. The Obama administration has
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China Urges N. Korea to Better U.S. Ties
TIME
By AP Monday, Oct. 24, 2011 (BEIJING) — China urged ally North Korea to improve its strained ties with longtime foes the United States and South Korea, state media reported Monday, as US and North Korean diplomats began talks about restarting
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Groupon’s China Venture Posts US$46M Loss
PCWorld
By Michael Kan, IDG News Groupon’s China venture posted a net loss of US$46.4 million for the past nine months, generating only $2.1 million in revenue as it fights to gain dominance in the country’s highly competitive group buying market.
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Coach profit up as China, N.America sales jump
Reuters
N) reported a higher-than-expected first-quarter profit as sales of its upscale handbags, wallets and accessories rose in North America despite the rocky economy and continued to grow in China. The company said it was ready “for another excellent
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Novartis to Cut 2000 Swiss, US Jobs, Add Staff in China
BusinessWeek
By Simeon Bennett Oct. 25 (Bloomberg) — Novartis AG, Europe’s second-biggest pharmaceutical company, plans to eliminate 2000 jobs in Switzerland and the US and add employees in China and India to offset the effect of drug-price reductions.
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After Iraq War, US To Shift Focus to Asia
Wall Street Journal
In a commentary distributed last week, Jerry Jasinowski, an economist and former president of the National Association of Manufacturers, declared that “there is growing evidence that China’s challenge to US manufacturing has peaked, and its competitive
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GRAINS-US soybeans rise on China demand
Reuters Africa
(Adds details, updates prices) * US soybeans continue to rally as China growth fears ease * US corn, wheat pull back as fund buying fades * Markets cautious ahead of outcome of Europe debt crisis talks By Ivana Sekularac and Bruce Hextall
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China ‘won’t follow US‘ on carbon
BBC News
By Richard Black Environment correspondent, BBC News China will not allow its carbon dioxide emissions per person to reach levels seen in the US, according to the minister in charge of climate policy. Xie Zhenhua, vice chair of the National Development
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Senators Outraged US Borrowing Big From China While Also Giving It Aid
Fox News
By Jim Angle China is one of the biggest economies in the world and grew at more than 9 percent over the last year. It also has loaned more than $1 trillion to the US to fund its deficit-spending. But at the same time, the US sends foreign aid to China
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China Carmaker BYD Sets North American HQ in LA
ABC News
By ROBERT JABLON AP Chinese electric carmaker BYD Co. opened its North American headquarters on Monday, a move that officials said could bring hundreds of jobs and provide a US hub for sales and research. The opening will be “a catalyst that ushers in
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The US Pledges Continued Strong Posture Towards China and North Korea
Blogcritics.org (blog)
These serious words issue as US and North Korean officials are meeting in Geneva for talks aimed at determining Pyongyang’s sincerity about returning to nuclear disarmament talks. Japan, with US, China, Russia and South Korea, are concerned about the
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China takes US to WTO court over shrimp, saw blades
Reuters Africa
GENEVA Oct 25 (Reuters) – China triggered a court case against the United States at the World Trade Organization on Tuesday, arguing that US anti-dumping measures on imports of diamond saw blades and frozen warm-water shrimp were invalid.
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China eager to invest in United States: diplomat
China Daily
By Cheng Guangjin (China Daily) COLLEGE STATION, Texas – China hopes to increase investments in the United States, which will boost the country’s economy and create jobs, said China’s top diplomat to the US on Sunday. Speaking at the fifth ChinaUS
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US not to improve ties with China at India’s cost: Envoy
Times of India
AGARTALA: The US is not willing to improve its relations with China or other countries at the cost of India-America relationship, US Consul General Dean R Thompson said here on Tuesday. “The US administration has been trying with all sincerity to
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China fires back over SolarWorld issue
TG Daily
China and US solar manufacturers are trading shots in the wake of the SolarWorld-led effort to slap big tariffs on Chinese imports of crystalline silicon solar panels. China denied breaking trade rules, saying its solar industry was good for the global
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Loomis says U.S. treasuries expensive, China a worry
Reuters
By Faith Hung TAIPEI (Reuters) – US treasuries remain expensive even after a recent selloff, according to the vice-chairman of US bond fund firm Loomis Sayles, who expressed concern about China’s economy, saying bad loans in the banking system have yet
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Unfair Chinese Business Practices Threaten Profits of U.S. Businesses
Money Morning
By David Zeiler, Associate Editor, Money Morning US companies have become increasingly worried that unfair Chinese business practices are hurting their ability to compete and will start eating into the juicy profits they’ve been extracting from the
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Chinese Stocks in the US: Aluminum Corp, Silvercorp, Sina
BusinessWeek
By Katia Porzecanski Oct. 24 (Bloomberg) — The Bloomberg ChinaUS 55 Index of the most-traded Chinese equities in the US gained 3.9 percent. The Shanghai Composite Index advanced 2.3 percent to 2370.33. The following companies were among the most
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US policy on China trade under pressure
Financial Times
By Alan Beattie in Washington The US administration yesterday defended its policy towards trade with China, saying that Washington had pursued a range of aggressive legal moves but continued to show caution over proposed legislation to punish Beijing
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Cnooc: Some Approvals On Pan American Acquisition Not Received
Wall Street Journal
Cnooc had a very high-profile rebuff on an even larger deal back in 2005 when its attempts to buy California-based Unocal Corp. were blocked following a nationalistic political uproar in the US. China’s last large-scale overseas energy acquisition was
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China Telecom Americas Internet Data Center Opens in Heart of the Los Angeles
Sacramento Bee
Tan contends that experienced partner is China Telecom Americas. “We’ve seen a growing demand for diverse, reliable communication from companies, especially in Southern California,” he said. “Earlier this year we opened our first US data center in the
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Silvercorp says report confirms sales data
Reuters
“I hope they have the same view as us, and this report will put this nonsense to an end.” Silvercorp, which operates silver mines in China, had repeatedly dismissed the short-seller allegations as a “short and distort” scheme.
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“Cool factor” helping GM in China
CBS News
China isn’t just an attractive market because of its size. Local demographics and social norms have played a key role. Car buying is mostly done with cash. Another difference between the US and Chinese markets? Well, let’s just say this isn’t your
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Slowing Chinese growth both good and bad for U.S.
Deseret News
As China is generally an exporter of finished goods to countries such as the US, falling demand for finished goods in the US would mean fewer goods are needed from China. Overall, slowing GDP growth in China and the US is a negative indicator for the
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China’s Net International Investment Position Hit US$2 Trillion in Mid-2011
China Briefing
Oct. 25 – China’s net international investment position – the balance between the stock of external assets and the stock of external liabilities in the country – stood positive at around US$2 trillion by the end of June, the country’s State
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America’s Not-So-Strategic Trade Policy in Asia
Wall Street Journal
The US is leaving itself behind as allies—and China—ink trade deals left and right. By RICHARD FONTAINE After years of delay, the United States last week approved three free trade agreements, including a landmark accord with South Korea.
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Op-Ed: Is growing Chinese space power a threat to the US?
DigitalJournal.com
US officials are worried about China’s fast growing space power and its military implications. Recently, the Chinese demonstrated capability to destroy satellites in orbit and conducted a missile-interception demonstration. According to NASA’s Lunar
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US urges deeper China engagement to avoid ‘miscalculation’
AFP
“In other words, we will increasingly live in a world where America and China cannot afford the luxury of quietly operating in parallel,” he said. Burns spoke at a conference at Texas A&M University in College Station, Texas that explored what’s in
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Does China’s space program threaten US?
People’s Daily Online
The achievement of China’s manned space program will surely be the common wealth of mankind. However, when space experts from around the world applauded the launch of Tiangong 1, talk of a Chinese “space threat” emerged in the United States.
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USChina rice protocol a “possibility” – trade group
Reuters
WASHINGTON, Oct 24 (Reuters) – A USChina phytosanitary protocol on rice, which would allow exports of the grain to the world’s most populous country, is a possibility and may be in its final stages, a rice trade group said on Monday.
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China orders cutback on TV entertainment
Reuters
In September, the agency ordered a popular television talent show akin to American Idol, Super Girl, off the air for a year after it exceeded broadcasting time limits. It has also recently reiterated its ban on sex-related television and radio
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Hong Kong Stocks Rise a Third Day Amid Global Recovery Optimism
BusinessWeek
“Stocks have rebounded because the outlook for the US and China is not as bad as investors had thought,” said Grace Tam, Hong Kong-based vice president of investment services at JPMorgan Asset Management Ltd., which oversees about $1.3 trillion
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US crude rises on Chinese data, Brent falls on profit taking
Proactive Investors UK
Meanwhile, oil prices in the US still enjoyed support from yesterday’s upbeat Chinese data. The preliminary reading of the HSBC China PMI index for October stood at 51.1, signalling the first expansion of the Chinese manufacturing sector in four months
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US Requests for Google User Data Spikes 29 Percent in Six Months
Wired News (blog)
The company could not discuss the third request, which it did not comply with, a spokewoman told Wired, since “We believe the Chinese government has prohibited us from full disclosure.” Yahoo, Twitter, Comcast, AT&T, Verizon and Time Warner,
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A New Consensus Reached Between US Investors and US Listed Chinese Companies
MarketWatch (press release)
In the Forum, Mr. Gengshu Miao, the president of China Council for International Investment Promotion (CCIIP), gave an insightful speech on the current situation regarding the Chinese companies listed on the US markets. Mr. Tiak Koon Loh,
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Keynote Remarks at 5th Biennial USChina Relations Conference
US Department of State (press release)
Mr. President, Mrs. Bush, Ambassador Zhang, who is an exceptionally talented diplomat and a very good friend, colleagues, and friends: I am delighted to be here today in College Station, addressing the singularly important topic of USChina relations.
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Chinese Banks’ Profits Surging 22% May Fail to Boost Valuations
BusinessWeek
By Stephanie Tong and Nathaniel Espino Oct. 26 (Bloomberg) — China’s four biggest banks, forecast this week to report higher third-quarter earnings than the four largest US lenders, may be stuck with valuations near record lows amid investor concern
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Why An ‘Occupy’ China Won’t Happen
Forbes
Walking along Liberty Plaza in lower Manhattan is a guy in a knit hat carrying a large Chinese flag and a handful of China Daily newspapers. He’s mumbling about something incoherent. Other than the one waving US flag near the drum and sage burning
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China Automotive Systems to form JV in Brazil
Automotive Business Review
China Automotive Systems (CAAS), a China-based supplier of power steering components and systems, will form a joint venture (JV) with two local Brazilian automotive companies to target the South American automotive market.
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Sherrod Brown wants to crack down on Chinese import price advantage
WTOL.com
In a news release, Senator Brown says currency manipulation gives Chinese imports a 25-40 percent price advantage over Ohio-made products. TOLEDO, OH – Following the passage of the biggest bipartisan jobs bill to clear the Senate this year, US Sen.
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Bacchus Says U.S. Senate Bill on Yuan a `Mistake’
Washington Post
Bacchus also discusses the challenges faced by foreign companies operating in China and USChina trade relations. He speaks in Hong Kong with Susan Li on Bloomberg Television’s “First Up.” (Source: Bloomberg) (/Bloomberg) Correction: Clarification:
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China Mobile: Apple “promised” to give us the iPhone but we don’t know when
The Next Web
Apple has agreed in principle to a partnership that will see China Mobile offer the iPhone, although it is not yet clear when the world’s largest carrier will carry Apple’s flagship smartphone, or which version of the device it will be.
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US House votes to ban airline compliance with EU law
Reuters
Lawmakers sent a strong message to the European Union on its unilateral action, which is fiercely opposed by carriers, travel groups, labour and a number of countries, including China. “We made it clear that the United States would pursue the matter,”
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