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U.S. China News 2011.10.27

Thu, October 27, 2011

Chinese Military Suspected in Hacker Attacks on US Satellites
BusinessWeek
The intrusions on the satellites, used for earth climate and terrain observation, underscore the potential danger posed by hackers, according to excerpts from the final draft of the annual report by the USChina Economic and Security Review Commission.
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Burton Malkiel Is Bullish on China, Says US Double-Dip Unlikely
AdvisorOne
Beginning by contrasting the American and Chinese economies, Malkiel said that “I’m not negative on the US,” that “my guess is there will be no double dip” recession, and that while he expects “some GDP recovery” in the third quarter, the US economy
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China’s military buildup threatens cross-strait peace: US report
eTaiwan News
However, increased economic and trade interaction between the two sides reduces the possibility of war “in the near future,” the USChina Economic and Security Review Commission (USCC) said in the final draft of its annual report.
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Libbey profit triples on China, US, Canada sales
msnbc.com
TOLEDO, Ohio — Glass maker Libbey Inc. said Thursday that its third-quarter earnings tripled on stronger sales in China, the US and Canada. Its shares jumped more than 9 percent in morning trading. For the quarter ended Sept. 30, the company reported
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Did China Try to Warn the US About the Coming Financial Crisis in 1999?
The Atlantic
Recently there has been anti-China rhetoric and opinion coming out of the US; some are attacking China’s human rights record and some even falsely claim that China is stealing US military secrets. I don’t want to dwell on each of these subjects,
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Chinese defense ministry urges US to stop arms sale to Taiwan
Xinhua
BEIJING, Oct. 26 (Xinhua) — A Chinese Defense Ministry spokesman on Wednesday urged the United States to stop arms sale to Taiwan in order to ensure the steady development of Sino-US military relations. Yang Yujun said at a monthly press briefing in
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U.S. trade officials plan November trip to China
The Hill (blog)
Kirk said he would have just enough time to change his clothes and get a meal before catching his flight to the annual USChina Joint Commission on Commerce and Trade following the conclusion of the Asia-Pacfic Economic Cooperation summit in Honolulu
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US Slams China At UN General Assembly For Denial Of Rights
RTT News
(RTTNews) – The United States has criticized human rights violations in North Korea, China, Iran, Myanmar, Cuba, and Syria. Making a statement Wednesday at the UN General Assembly – Third Committee on Promotion and Protection of Human Right,
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Dave Camp: China an export opportunity, but ‘trade abuses’ hurt US firms, workers
MLive.com
In September, the Economic Policy Institute estimated the USChina trade deficit cost the United States 2.8 million jobs between 2001 to 2010, representing 2 percent of the American workforce. The lower labor costs overseas pressured US wages downward
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US Gets A Do-Over On Clean Energy And A New Chance To Dominate
Forbes
The global market for clean energy products grew to $243 billion in 2010, a year in which China and Germany both captured a greater share of this global investment than the United States. That has led many (myself included) to worry about the erosion
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Malaysia Seals US$10 Bln Deals With China At CAEXPO
Bernama
By Ng Che Yean NANNING, Oct 27 (Bernama) — Malaysia signed US$10 billion (US$1=RM3.10) economic cooperation deals with China during the roundtable dialogue between Prime Minister Datuk Seri Najib Razak and selected Chinese corporate leaders in at the
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US study tracks huge state role in China economy
Reuters
The study conducted for the USChina Economic and Security Review Commission by the Washington consulting firm Capital Trade Inc says firms under various forms of Chinese state ownership control 50 percent of China’s economy — with huge impact on
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Media Alert: Former US Cyber Security Czar Richard Clarke Calls Out China as
MarketWatch (press release)
In addition to discussing China’s cyber activity on the video, Clarke outlines four main buckets of cyber attacks today, and why many people consider 2011 the “Year of the Hack.” The Clarke video (which can be viewed here:
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Novartis to Cut Jobs in Switzerland and U.S., Add in China
San Francisco Chronicle
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. The cuts, equivalent to about
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The American POW who chose China
BBC News
David Hawkins was one of a handful of American GIs who chose to go to China. “I don’t think it ever occurred to the US or the army that there would be GIs that would choose to go somewhere other than their own country,” Mr Hawkins says, more than six
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Rival nations to play “ping-pong diplomacy”
CBS News
Also due to compete are players from the United States, China, Japan, Russia, France and Qatar. The event will include mixed-nation teams. Joel Bouzou, founder of Peace and Sport, said the $100000 tournament aims to “encourage dialogue between
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U.S. eyes “green growth” trade deal at APEC
Reuters
The United States wants to address that issue at this year’s high-level USChina Joint Commission on Commerce and Trade, which Kirk said on Wednesday would be held in China shortly after the APEC summit meeting. Kirk said progress on a “green growth”
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TAIWAN DAYBOOK: TSMC Net May Drop 35%; US on China Military
Bloomberg
WHAT TO WATCH: * China’s military upgrades cut chances of a “peaceful resolution” of tensions with Taiwan, a US commission says * Taiwan’s dollar was little changed at NT$30.125 against its US counterpart, according to Taipei Forex Inc. * The yield on
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Q&A: Hillary Clinton on Libya, China, the Middle East and Barack Obama
TIME (blog)
On Oct. 19, in the course of reporting for TIME’s cover story, which is now available online to subscribers, he conducted a wide-ranging interview with her, discussing among other things, the Middle East, China and American exceptionalism.
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Corn, Soybean, Wheat Futures May Rise on EU Debt Deal, US Economy’s Gain
Bloomberg
Treasuries Decline –US Economy Expands at Faster Pace on Consumer Spending -Jobless Claims in US Decreased 2000 Last Week to 402000 -Sarkozy Wins China Cooperation Pledge as Japan Plans EFSF Aid -Fed May Ask European Banks for Daily Data on Cash,
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Victory in fraud lawsuit for Chinese company
China Daily
The decision earlier this month marks a victory for at least one Chinese US-listed company. China North East Petroleum Holdings Ltd (NEP) is an independent oil company that engages in the production of crude oil in northern China and is reportedly the
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China sends envoy to Syria as U.S. brings its ambassador home
Examiner.com
Earlier this month China and Russia vetoed a UN resolution that threatened the Syrian government with sanctions if it continued its violent crackdown on protesters. Beijing and Moscow’s veto was strongly condemned by the United States and other Western
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Rules beat protectionism
Asia Times Online
We will never win a battle to “out-protectionist” China. Rather, we must continue – and enhance – our efforts to tear down China’s walls to US exports and investment.” While the temptation during a difficult time in the American economy will be to
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China Wants <del>Bases</del> an Endless War in Pakistan
Wired News
It just needs to let the Chinese have the bases it says it wants in an armpit of the globe, covering our withdrawal from it. Speaking of that cold war, there are many, many people in the US, China and Pakistan that want to see it proceed,
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US Defense Chief Says North Korea Still a Threat
Voice of America (blog)
The six-nation nuclear talks, involving the two Koreas, China, Japan, Russia and the United States, were aimed at convincing North Korea to abandon its nuclear program in exchange for massive economic aid. Pyongyang walked away from the talks in April
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Tax dispute sparks east China street protests
Reuters
They (the government) are not giving us any reply. We have to continue (protesting),” one young man from Anhui said. An hour after the latest bout of protests, truckloads of armed police, advancing with riot shields and batons, largely dispersed the
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Ambassador: ChinaUS relations not zero-sum game
People’s Daily Online
By Wang Tian (People’s Daily Online) The fifth Biennial ChinaUS Relations Conference kicked off at the George Bush Presidential Library in Texas on Oct. 24 and was attended by more than 600 political, business and academic leaders from the two
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Currency measure prompts warnings from US officials
China Daily
“It’s in China’s best interest to reform and move to a market-determined currency that reflects economic conditions,” he said after a speech on ChinaUS economic relations at Johns Hopkins University in Washington. “I don’t believe that it’s a right
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Back From China: Furniture Maker Returns To NC
NPR
And then Bruce Cochrane went to China. He became a consultant for some of the biggest names in American furniture: Clayton Marcus; Craftmaster; Berkline. During that time, the US lost more than 300000 furniture jobs, according to the Bureau of Labor
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Forex Review: China Walks the Currency Tightrope
Business Insider
Any single one of them could result in a recession or depression – or even a revolution for China. The usual solution for China is to boost exports. This has been their go-to solution for the last 20 years. But there isn’t enough US demand for Chinese
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China’s ICBC says 3Q profit up 28 percent
msnbc.com
China’s banks remain in relatively strong condition amid testing times for major banks in the US and Europe. They avoided the worst of the 2008 crisis and then benefited from China’s strong stimulus-fueled rebound. The lending spree that helped finance
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Everything You Need To Know About China Bond ETFs (Uncensored Edition)
ETF Database
All three of the China bond ETFs currently available to US investors hold securities traded in the Dim Sum bond market. It’s important to understand exactly what the Dim Sum market is, and what types of securities are traded there.
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US stocks end higher; Dow up 1.4% while S&P gains 1.1%
Economic Times
NEW YORK: US stock indexes finished higher Wednesday following reports that China will come to the aid of Europe by investing in a financial rescue fund. Agence France-Presse reported that China has agreed to invest in Europe’s financial rescue fund,
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Volkswagen Profit Rises 86% on Audi, Tiguan SUV
Bloomberg
Photographer: Chris Ratcliffe/Bloomberg VW is expanding in China and the US in a bid to surpass Toyota Motor Corp. as the world’s biggest carmaker. VW is expanding in China and the US in a bid to surpass Toyota Motor Corp. as the world’s biggest
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The Global Coal Trade’s Complex Calculation
NPR
by Richard Harris To feed China’s insatiable demand for coal, US companies are trying to sell and ship the lucrative commodity to the Asian market from new West Coast ports. Above, the cooling towers of a coal-fired power plant are seen on the
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Cnooc Up After Sales Gain as PetroChina Jumps: China Overnight
BusinessWeek
By Belinda Cao Oct. 27 (Bloomberg) — Chinese oil companies rose to their highest levels in at least three weeks before earnings reports, leading gains in the Bloomberg ChinaUS 55 Index, as investors turned to riskier assets after European leaders
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Spending More Doesn’t Make Us Healthier
New York Times (blog)
Or compare it to the second largest economy in the world, China. China’s GDP is $5.9 trillion (compared to America’s $14.6 trillion). So the United States, with a population a quarter of the size of China’s, spends just on health care slightly less
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Sens. Coburn, Webb Question US Aid to China
The New American
China has the world’s second-largest economy and grew at more than 10 percent last year, yet Congress continues to dole out foreign aid to a country that holds more than one trillion dollars of US government debt. Although long overdue, two US
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Daimler, VW feel chill of Europe car slowdown
Reuters
Volkswagen, which sees flat sales this year for the car industry worldwide, also warned Europe’s debt crisis would weigh on demand in many Western European markets, even as Eastern Europe, India, China and North and South America continue to grow,
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US GDP Growth Accelerates to 2.5%; S&P 500 Index Jumps 2%
123Jump.com
French President Sarkozy is expected urge China and Japan to participate in the fund. The euro surged to $1.401 in trading on the agreement. In Paris, the CAC-40 Index added 170.23 or 5.4% to 3393.85 and in Frankfurt the DAX Index edged higher 299.41
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Exclusive: NSA helps banks battle hackers
Reuters
Lewis pointed the finger at China as a consistent threat. “Business espionage is a normal practice for Chinese businesses and for (government) agencies,” he said. US financial institutions have also sought assistance from private defense contractors
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Dear China, please buy our debt! XOXO, Europe
CNN
Valeri said that while China does complain about the many fiscal challenges facing the US, China realizes that no matter what Standard & Poor’s might say, Treasuries are still a better horse to bet on than European bonds. “China will need a lot of
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Management: Last bastion of American hegemony?
Fortune
The US is now the world’s largest debtor nation, and the biggest sources of capital are the large sovereign wealth funds of the Middle East, Russia, and China. Leadership in advanced manufacturing is spread across such nations like Japan, Korea,
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