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U.S. China News 2011.10.26

Wed, October 26, 2011

Crisis of 2012 May Be Harder on China Than U.S.: William Pesek
San Francisco Chronicle
So it’s worth considering an alternative trajectory for the US and China as another meltdown seems to be unfolding. It’s hard to be optimistic for 2012 as Europe dithers, Washington bickers, Japan’s paralysis deepens and China experiments with ways to
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China rejects US praise, arms sales to Taiwan
Reuters
BEIJING (Reuters) – China on Wednesday criticized US Defense Secretary Leon Panetta for praising Beijing’s measured reaction to the latest US arms sales to Taiwan, repaying his compliment by saying the deal was “unprofessional.” Past US arms sales to
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Viewpoint: USChina ties can boost the global economy
BBC News
By Henry Paulson Former US Secretary of the Treasury China has cemented its place alongside the US and Europe as one of three principal engines of the global economy. Yet both the Chinese and US economies confront growing vulnerabilities, and thus have
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China’s Per Capita Carbon Emissions to Surpass US in 2017
Death and Taxes
By DJ Pangburn Wednesday, October 26, 2011 A recently published report on carbon emissions states that by 2017 China will surpass the US has the largest per-capita polluter. The Chinese Climate Policy Minister Xie Zhenhua says that this would be a
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China Almost Kills Premier US Solar Company
Forbes
While Obama and Republicans engage in a kindergarten style brawl, China is slaughtering the American solar industry. Take a look at First Solar (FSLR) chart from this afternoon during which, First Solar lost 25% of its already depressed market value in
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BYD rolls out e6 to retail buyers in China’s Shenzhen
Reuters
BEIJING Oct 26 (Reuters) – BYD , a Chinese carmaker backed by US billionaire Warren Buffett, began selling its electric model car e6 to retail customers in Shenzhen on Wednesday. The e6, charged by BYD’s self-made battery Fe, can run about 186 miles on
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Bank of China to issue American Express cards
MarketWatch
Transaction processors Visa Inc. (V) and MasterCard Inc. (MA) have also been trying to tap China’s fast-growing payments industry through agreements with China UnionPay, the only transaction-processing network in China. US companies have faced
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Exclusive: National Security Agency helps banks battle hackers
Reuters
That makes security experts suspect the hackers were backed by countries such as China, and fueled concerns that cyber terrorists might someday use malware to wipe out crucial data and cripple networks across the financial sector.
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US$1 billion Chinese railway line for Ethiopia
The Africa Report
By The Africa Report Ethiopian Railway Corporation (ERC) and the China Railway Group Limited (CREC) on Tuesday sealed a US$1 billion deal to build railway infrastructure in the Horn of Africa country. The new railway line, to be built by CREC,
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Nokia launches Windows Phone 7 handsets, but US and China miss out
IT PRO
The long-awaited Nokia Windows Phone 7 handsets are out, but the Finnish giant is sitting out the lucrative American and Chinese markets this Christmas. By Alan Lu, 26 Oct 2011 at 16:33 Nokia CEO Stephen Elop used the Nokia World conference in London
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Frank Gehry Looks to Asia for Projects as Growth Slows in US
BusinessWeek
By Nadja Brandt Oct. 27 (Bloomberg) — Frank Gehry, designer of Los Angeles’s Walt Disney Concert Hall, is seeking projects in Asian countries including China and India as slower US growth crimps development in the world’s largest economy.
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Ballerina reveals beauty of surfing to China
Reuters
“We thought China was an impossible place for us to enter, but we’ve done it. We’re here and this is just the beginning. “China is a powerful athletic country, a vast country and marketplace with a potential billion-strong audience for us.
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Chinese investment in US hotels: what the real estate professionals want to know
Hotel Law
By Jim Butler and the Global Hospitality Group® On Friday, October 21, 2011 I did a Q&A interview with the National Real Estate Bisnow about Chinese investment in US hotels. Here is the full Question & Answer exchange, a portion of which appeared in
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Chamber Appeals to US Not to Launch Anti-Dumping Probe on Chinese Solar Products
CRIENGLISH.com
If the United States is to take action on Chinese new energy products, it will negatively affect both the Chinese and US solar industries, as well as the global solar industry, said Wang Xiaokang, vice chairman of the CCOIC and chairman of the China
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US joins India & China on emissions cuts, opposes EU targets
Economic Times
NEW DELHI: A unique alliance of countries, India, China, Brazil, the US, UAE, Indonesia and South Korea, has come about against the proposal by the European Union to impose internationally binding targets to reduce emissions for developed and
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Soybean futures gain on adverse US weather, China demand
Moneycontrol.com
Forexpros – Soybean futures were up on Wednesday, as adverse US weather added to concerns over crop conditions in the US, while speculation China could loosen monetary policy in the near-term also lent support ahead of a critical European Union summit
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US defense chief says North Korea “serious threat”
Reuters
This is particularly important in places like South Korea and Japan, where the United States has about 80000 forces deployed and where US allies are nervously watching China’s military buildup and increasing assertiveness in the South China Sea.
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US, North Korea ‘Narrow Differences’ in Geneva Talks
Voice of America
October 25, 2011 US, North Korea ‘Narrow Differences’ in Geneva Talks David Gollust | State Department The State Department said Tuesday US and North Korean officials narrowed their differences on resuming Chinese-sponsored six-party negotiations on
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Celanese Says It May Construct Acetyls Complex in China or US
BusinessWeek
By Jack Kaskey Oct. 26 (Bloomberg) — Celanese Corp., the world’s biggest producer of acetic acid, said it may build a new plant to make the chemical in China or the US because of the countries’ inexpensive raw materials.
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Iron ore in record slide as China demand slows
Reuters
The price of hot rolled coil in China fell 8.7 percent to 4123 yuan ($648) a tonne at the end of last week, while rebar shed more than 6 percent to 4296 yuan a tonne, according to data compiled by Bank of America-Merrill Lynch.
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House: US should halt China’s unfair trading
The Detroit News
Washington— House lawmakers united Tuesday in demanding that the Obama administration do more to stop China’s “predatory” trade practices that have devastated American industries and put Americans out of work. They differed on whether Congress should
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America’s Future in Asia
Asia Society
Video Excerpt: Nobuyoshi Sakajiri and Simon Tay on the improving relations between China and Taiwan, and what they mean for the US and Japan, during a discussion at the Asia Society, January 27, 2009.
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Still In Love With U.S.-Listed China Stocks?
Seeking Alpha
US-listed China shares have plummeted like a pudding and I really don’t know if this is going to change soon. This year was a year to forget in the US-listed China space. In the case of Chinese reverse mergers, this year is turning out to be a very
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America’s Pacific Century
Voice of America
“Just as Asia is critical to America’s future,” Secretary Clinton concluded, “an engaged America is vital to Asia’s future.” Related Articles Security Strategy In Asia The US calls for an ongoing military relationship with China, given the significance
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‘Made in America,’ shipped to China
Washington Post (blog)
By Abha Bhattarai Export Now was created by Frank Lavin to make it easier for small businesses to sell American products in China. (Ng Han Guan – AP) of key advice: expand abroad. Over the years, though, the Commerce Department’s former undersecretary
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What U.S. Slowdown? Business Is Booming
TheStreet.com
Companies including General Electric(GE), Master Lock and Boeing have returned production to the US from China for reasons ranging from quality, reliability and technology piracy. Even German carmaker Volkswagen and South Korean electronics company
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Scowcroft Group, McLarty Associates to Join Forces for China, Latin America
MarketWatch (press release)
Now, the two premier international strategy firms are deepening their cooperation by combining their practices in the key emerging markets of China and Latin America. In China, companies and policymakers have long benefited from the insights and
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Chinese Nationalism and Its Discontents
Military & Aerospace Electronics
War have USChina relations been …worse. Yes, in the past there have been periodic confrontations over Taiwan, and tensions over the American bombing of the Chinese embassy in Belgrade and the Chinese fighter-jet collision with an American
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China’s Shadow Banking System: The Next Subprime?
Wall Street Journal (blog)
We’re still cleaning up the mess from the massive debt-fueled housing bubble in the US when suddenly we’ve got to deal with Europe’s public finances. We haven’t even gotten started on that one when a third debt debacle starts rumbling, in China.
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US Must Rise to Challenges From China
TheStreet.com
Should the United States fail to maintain military strength necessary to meet its international security responsibilities, as well as those that may be posed by a surging Chinese presence in the Pacific, the international economic institutions that
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Technology Shares Lead Drop as CNinsure Rises: China Overnight
BusinessWeek
Technology stocks from AsiaInfo-Linkage Inc. to Youku.com Inc. led declines in the Bloomberg ChinaUS 55 Index, which lost 1.9 percent in New York. Melco Crown Entertainment Ltd., the Macau casino operator, declined 5.2 percent after Daiwa Securities
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Paulson in Interview: China Reform Can Help US in Long Run
Wall Street Journal (blog)
Henry Paulson says the US and China both need long-term, fundamental reform to restore competitiveness and sustain growth that will improve the global economy. America needs a new tax system and we need to think out of the box to fix unemployment,
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Brazil rejects Europe debt purchase plan
Reuters
The IMF’s leading share holders, which include the United States and some European countries, rejected that idea, which analysts say could potentially dilute their influence in the lender. The United States, Japan, Germany and China, have said that the
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Asian Pay Hikes May Impact US Employers
Human Resource Executive Online
Chinese wages are “climbing at 15 to 20 percent a year because of the supply-and-demand imbalance for skilled labor,” says Harold L. Sirkin, a BCG senior partner. As the value of the yuan continues to increase, the gap between US and Chinese wages is
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GRAINS-US grains edge higher, EU summit in focus
Reuters Africa
“We are still seeing strong demand signals in corn,” Chandler said, adding the market was also awaiting US ethanol production figures for confirmation of firming corn market demand. US soybean futures remain supported by demand from China,
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Brent steady; U.S. oil rises on company earnings
Reuters
A Reuters poll of 35 analysts showed Brent crude averaging $106.80 per barrel next year and $108.60 in 2013 as demand for fuel from China and emerging economies keeps the global oil market tight. US crude is forecast to average $92.00 a barrel in 2012
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Global Pharm Announces the Closing of US$15 Million Redeemable Convertible
PR Newswire (press release)
This Financing will assist us to accelerate the consolidation plan of our newly acquired subsidiaries and strengthen our TCM cultivation business in Shandong province.” “The Chinese domestic consumption model is developing rapidly and will remain the
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Agriculture Secretary Vilsack Announces Travel to Asia to Strengthen Markets
USDA.gov (press release)
In terms of exports, we are experiencing the best years in America’s history. Partnerships with growing markets like those in China and Vietnam are integral to the strength of the US economy in the decades ahead.” In 2011, China moved ahead of Mexico
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American Exceptionalism Will Dominate the 21st Century
Big Government
The negative has been a substantial US outsource of manufacturing labor to China. But due to America’s exceptional 2% annual productivity growth; the terms of trade are increasingly favoring the US versus China. American manufacturing, according to the
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In Trade Talks, US Targets State Subsidies
Wall Street Journal
Emerging markets are looking more toward China, where the state has a far bigger role in directing the economy and domestic firms. According to a new report for the USChina Economic and Security Review Commission, a congressional panel, state-owned
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Ford profit down; lackluster outlook disappoints
Reuters
2 US automaker also cut its 2011 profit margin forecast, suggesting a weaker-than-expected fourth quarter. It cited slowing growth in China, pricing pressure in Europe and provided no timetable for when it might resume paying a long-anticipated
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In Northwest Town, A Local Fight Against Global Coal
NPR
by Richard Harris This is the first of two reports on plans to export US coal to China. Plans are afoot to build giant new coal terminals on the West Coast to ship this lucrative commodity to China. But activists want to stop this, in part because coal
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Conoco profit tops Street on refining strength
Reuters
Conoco’s oil and gas production fell 10 percent to 1.54 million barrels oil equivalent (boe) per day, hurt by asset sales, and a loss of output from Libya and China’s Bohai Bay. China’s marine authority in early September ordered a subsidiary of Conoco
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