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U.S. China News 2011.11.02

Wed, November 2, 2011

Lenovo Profit Beats Estimates on China, US
BusinessWeek
2 (Bloomberg) — Lenovo Group Ltd., China’s biggest maker of personal computers, reported second-quarter profit rose 88 percent, beating analysts’ estimates, after boosting sales to companies in the US and gaining market share globally.
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China Says No Talking Tibet as Confucius Funds U.S. Universities
Bloomberg
The proliferation of Confucius Institutes illustrates the growing impact of — and appetite for — China’s wealth at American universities. Almost 40000 Chinese undergraduates, most of them paying full tuition, attended US colleges in 2009-2010,
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Yuan Hits Hurdle on Road to Wider Use—U.S. Businesses
Wall Street Journal
By CHANA R. SCHOENBERGER China’s effort to make the yuan a global reserve currency has hit a snag: few US firms are taking advantage of easier access. To help spark wider use of the yuan in international trade, China has made it easier for overseas
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US IT cos want Obama to make China deliver
Times of India
Heading into the next USChina Joint Commission on Commerce and Trade meeting at the end of November, the industry wants US officials to insist China fulfill its existing commitments rather than press Beijing for new promises. “The existing commitments
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Suntech Jumps as Index Gains Most in Four Days: China Overnight
BusinessWeek
3 (Bloomberg) — Chinese stocks traded in the US advanced, driving up the Bloomberg ChinaUS 55 Index for the first time in four days, as solar stocks rebounded after American payrolls grew and declines in material costs quickened.
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US lawmaker seeks to visit blind China rights lawyer
AFP
WASHINGTON — A US lawmaker said he would ask China to let him visit blind human rights lawyer Chen Guangcheng to assess his condition after accounts that he was severely beaten at his home. Chinese activists organized through the Internet have been
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U.S. And EU Borrowing From China Is Very Different
Seeking Alpha
In addition, and according to the same article, “French President Nicolas Sarkozy immediately got on the phone to China after the summit to seek financial help, saying Beijing had ‘a major role to play.’” And that brings us to the next article by
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Qatar outreach widens with ping pong ‘diplomacy’
San Francisco Chronicle
Forty years ago, it was one of the few sports that the Chinese dominated and offered a chance to upstage the lesser-ranked Americans on their home soil. “We knew they could eat us for lunch. The Chinese let us win a few matches as a gift,” said Connie
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AsiaInfo Leads Drop in U.S.-Traded Stocks on ISM Index : China Overnight
Bloomberg
The Bloomberg ChinaUS 55 Index dropped 1.3 percent to a five-day low of 98.48 at the close of trading in New York. AsiaInfo-Linkage plunged 22 percent to $7.81, the biggest slump in three months. The company provided fourth-quarter forecasts on Oct.
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Chinese Government and Norwegian Satellite Station Rebut US Satellite Hacking
TPM
The article is based on an unpublished draft of a forthcoming annual report to Congress from the USChina Economic Relations Commission, an independent advisory panel. NASA confirmed to TPM on Friday that the agency “experienced two suspicious events
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Did Chinese hackers launch an offensive on US chemical industry?
Alaska Dispatch
Ultimately, Symantec traced the attacks to a US-based computer system that was “owned by a 20-something male located in the Hebei region in China.” The US researchers dubbed the Chinese suspect “Covert Grove” – a literal translation of his name – and
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U.S. Stock-Index Futures Drop on China Manufacturing Data, Europe Concern
Bloomberg
Stocks also fell after data showed a Chinese manufacturing index dropped to the lowest level since February 2009. In the US, manufacturing grew less than forecast in October, depressed by a drop in inventories that may set US factories up for stronger
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Key US committee to take up China travel ban bill
AFP
“It informs human rights abusers in China that the United States does not stand by as atrocities are committed. It lets them know they are not welcome in the United States,” Gallegly said in a statement. If, as expected, the panel approves the measure,
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US Crude falls on Greek debt worries, China data
Economic Times
KUALA LUMPUR: US crude fell for a fourth day on Wednesday, the longest losing streak since August, as renewed concerns about Greece’s debt crisis and a slowdown in China’s manufacturing drove investors to assets such as the dollar and gold.
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China Military Accepting Bigger Recruits, Tattoos
Fox News
While China maintains a draft, the army has been essentially all-voluntary for many years as so many young men sought to join. Rejection rates among those taking the basic physical exams have run at about 70 percent in past years. The US military
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Relativity’s Kavanaugh a No-Show at Upbeat USChina Film Summit
Reuters
By Fred Schruers at TheWrap Just 48 hours after controversy began to swirl around his studio’s much ballyhooed Chinese co-production/distribution arrangement, Ryan Kavanaugh canceled his appearance at a four-person panel at the Asia Society’s USChina
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United States biggest contributor of unsustainability: Jairam Ramesh
Times of India
PTI | Nov 2, 2011, 07.51PM IST NEW DELHI: Describing the US as the biggest contributor of unsustainability, rural development minister Jairam Ramesh today regretted that India and China were “hell-bent” on following the American model of development.
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In China, tensions rising over Buddhism’s quiet resurgence
USA Today
By Calum MacLeod, USA TODAY SERTHAR, China – Breathless but beaming, Sheng Zisu sounds confident after five months in a maze-like Buddhist encampment high on the eastern Tibetan plateau, nearly 400 miles of bad road from the nearest city.
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India Ahead of China and US in Consumer Confidence
Siliconindia.com
In what could be seen as a visible indication of Indian economy’s recovery from the financial slowdown, the country topped the Neilsen Consumer Confidence Survey beating China and US by a margin of 104 points and 77 points respectively, within all four
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China’s Stocks Rebound on Policy Speculation, Fiscal Support
Bloomberg
By Bloomberg News – Wed Nov 02 08:16:50 GMT 2011 Chinese stocks rose to a six-week high on speculation the central bank may ease monetary policy to bolster the economy as Europe’s debt crisis and slumping manufacturing in China and the US threaten
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Toys R Us to buy 70 percent stake in Asia stores
BusinessWeek
The terms of the deal allow Toys R Us to eventually take over the remaining 30 percent of the venture. The venture includes 90 stores in China and Hong Kong, as well as Thailand, Malaysia, Singapore, Taiwan and Brunei.
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Innotech Solar Establishes Sales Hub in USA
MarketWatch (press release)
Innotech Solar already maintains a solid presence in Europe and China, so the US is the next natural key-growth market for the company. In Europe Innotech Solar has two cell processing facilities, in Norway and Germany, with a capacity of more than 160
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Would Economic Ties Trump Cyberattacks to Prevent USChina Conflict?
SecurityNewsDaily
That means ensuring the US economy remains strong and well-balanced, with China’s economy possibly representing the best deterrent, according to a new report. The Rand Corporation’s analysts put low odds on a ChinaUS military conflict taking place,
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Becoming American on Lady Liberty’s 125th birthday
Downtown Express
At a naturalization ceremony on Liberty Island, Rufai Adeniyi, who was born in Nigeria, and Zuyu Wu, who was born in China, congratulated each other on becoming US citizens. In honor of the 125th anniversary of the Statue of Liberty, 125 immigrants
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US (LA): Demand from China driving pecan prices up
FreshPlaza
The once-mighty walnut has begun to take a back seat to the pecan in China, which in less than four years went from buying less than 1 percent of US pecan crops in 2005 to 28 percent in 2009, according to Wall Street Journal reports.
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Growth in manufacturing slows in US and China
Irish Times
GROWTH IN manufacturing activity in the US and China is slowing but shows little sign of a slide towards recession, according to official data. The purchasing managers’ index in China dropped to 50.4 from 51.2 in September, while the US Institute for
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Canadian Pacific Gains 37% as China Beats Rail Margins: Real M&A
San Francisco Chronicle
Shares of the rail operator, which hauls coal, grain and fertilizer bound for China across six Canadian provinces and 13 US states, are “undervalued and are an attractive investment,” according to activist hedge-fund manager William Ackman,
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Solar PV firms say US dumping petition harmful
China Daily
By Du Juan (China Daily) BEIJING – A petition by US solar energy companies that alleges dumping by their Chinese competitors will harm both the US and Chinese photovoltaic (PV) solar cell industries and worsen unemployment in the US,
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CNPV Responds to Trade Action Filed in the United States
Sacramento Bee
CNPV was named among other China-based exporters of these products to the United States. CNPV is in the process of reviewing the antidumping and countervailing duties petition in the United States against Chinese competitors. We are currently reviewing
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Herman Cain incorrectly suggests China doesn’t have nuclear capability
CBS News
In an interview Monday, Cain said part of China’s threat to the United States stems from its attempts to develop nuclear weapons — even though China tested its first nuclear weaponin 1964. “Yes, they’re a military threat,” Cain said on the PBS
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China Power in US$784m JV with China Coal
Industrial Fuels and Power
State-owned China Power International Development Ltd (CPI) and China Coal Energy Co Ltd will form a CNY4.98bn (US$784m) joint venture to build and operate coal-fired power units in Shanxi, northern China. China Power will hold a 80% stake with China
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Europe’s debt crisis: we may need China’s money
The Guardian (blog)
Not their style, I’d say. Who cares what China thinks about the feckless Greek government’s decision to stage one over its debt bailout package? All of us should care. China is the world economy’s No1 creditor nation. We may need its money.
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United States-Pakistan-India Strategic Trinity: A Delusionary Formulation
Eurasia Review
Unfortunately, the Indian policy establishment has consistently failed in trading India’s power potential attributes with the United States and China to recast their Pakistan policies formulations in a manner that can restrain the Pakistan Army’s
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Review of Expert Presentations at CCIIP and NYSSA Forum on Current Situation
MarketWatch (press release)
HiSoft had shown a sharp 24.94% increase in its stock price from US$10.81 on Oct 14 to US$13.51 on Oct 28. At the same time, China Stock 30 index (ICS30) rebounded from 826.01 points last Friday, up to 895.08 points this Friday, a weekly cumulative
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Sino-Global Announces Memorandum of Understanding With Southern Africa’s
Sacramento Bee
Registered in the United States in 2001 and operating primarily in mainland China, Sino-Global is a leading, non-state-owned provider of high-quality shipping agency services. With local branches in most of China’s main ports and contractual
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Is the Rising Star of US Manufacturing Fading?
U.S. News & World Report
Another potential positive for US manufacturing in the longer term is rising wages in China. In the past, low wage rates drove many companies to shift production from the United States to China, but with wage rates growing 15 to 20 percent per year
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Competition deepens in the South China Sea
Asia Times Online
Nakae was also cited in press reports saying that tensions over oil exploration and military outposts in the South China Sea would require more cooperation from the US and India to manage. On that cue, Vietnamese President Sang met Indian Prime
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China Renewable Energy Industry Report: Nov. 2
China Briefing
US photovoltaic inverter maker Solectria Renewables LLC has announced plans to open plants in China and India with capacity of 300 megawatts and 200 megawatts, respectively. The company said that the expansion of its manufacturing activities into the
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When the Auditor Meets China’s ‘State Secrets’ Law
Wall Street Journal (blog)
China High Precision declined to comment beyond its statement to the stock exchange. Auditors in recent months have been grappling with what constitutes a Chinese “state secret.” Auditors are under pressure from US regulators to hand over documents
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Chinese Solar Stocks’ Hazy Outlook
Seeking Alpha
Investors with exposure to China’s solar sector may therefore want to take some precautions. For instance, purchasing protective puts or covered calls can help limit risk or take money off the table. Or those that see China outperforming the US solar
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China’s growth benefits world’
China Daily
To ensure China, the US and members of the European Union benefit from trading and investing in each other’s economies, Ning said, it is important to make trade and investment regulations more transparent, clarify new regulations and related domestic
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Face facts: China will be dominant power in the region
The Canberra Times
That means balancing Chinese and American interests in the region. Globally there will have to be a move towards equality for each country’s policy priorities. In the medium term the US may also have to accept that China will want a sphere of influence
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COMMODITIES-Oil falls fourth day, gold rebounds on euro, China slowdown
Reuters
Big manufacturers in the world’s second-largest economy operated at their slowest pace in October since early 2009, while the pace of growth in the US manufacturing sector slowed in October. “The underlying issue is how much China can sustain commodity
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Q+A-What issues are at stake in the EU-U.S. carbon spat?
Reuters
Exempting US, Chinese and Indian airlines from the ETS would reduce the aviation sector’s total demand for carbon permits by nearly 12 percent next year, according to researchers RepuTex. Under current rules airlines will need to buy an estimated 47
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The Iranian Gambit
Iranian
However, this approach has not worked because, ironically, the United States, unlike China with America, truly does face a conflict between its Iran and China policies. Beijing has good reason to doubt that the Obama administration would ever seriously
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