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U.S. China News 2011.11.03

Thu, November 3, 2011

GLOBAL ECONOMY-US, China service sectors cool in October
Reuters
By Leah Schnurr and Zhou Xin NEW YORK/BEIJING, Nov 3 (Reuters) – Growth in the service sectors of the US and Chinese economies slowed during October, suggesting the global economy is weakening just as the euro-zone debt crisis reaches a critical stage.
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China Solar Boom Erodes Technology Edge Backed by US Loans
Bloomberg
Photographer: Ken James/Bloomberg China’s success in wresting control of the solar industry is erasing an advantage for US suppliers led by First Solar Inc. (FSLR), which use a rival technology supported with $5.5 billion in government loan guarantees.
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US, China reluctant to help Europe bail out of debt crisis
Los Angeles Times
REPORTING FROM CANNES, FRANCE — The US and China on Thursday announced their unwillingness to pour money into a European bailout fund, dealing a serious blow to its prospects of being the financial solution to Europe’s debt crisis.
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US Seeks China’s Aid to Ensure Food Safety
Wall Street Journal
Drums of apple juice concentrate are stored at athe China Haisheng Juice Holdings Co. facility in Xian, Shaanxi province,China. US Food and Drug Administration officials are seeking increased data sharing and communication with China and other major
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Tibetan Exile Leader Urges US to Pressure China
Voice of America
Wednesday, 02 November 2011 Tibetan Exile Leader Urges US to Pressure China VOA Tibetan The head of the Tibetan Central Administration is urging the United States to press China for access to areas where 10 Tibetan Buddhists have set themselves on fire
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US lawmakers slam White House-China cooperation
AFP
But he defended the scientific engagement with China through several US administrations, saying the cooperation helps in the “effort to get China to change the aspects of its conduct that we oppose,” such as on human rights or restrictions to the
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U.S. Seeks China’s Aid To Ensure Food Safety
Wall Street Journal
By LAURIE BURKITT BEIJING—US food and drug regulators are requesting Beijing’s help in implementing a new food-safety law requiring stricter oversight of exported food, a sign of China’s growing importance as a food exporter for Americans.
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ChinaUS satellite warning a hot-button issue
Asia Times Online
By Craig Guthrie HUA HIN, Thailand – It’s a nightmare scenario for proponents of China’s “counter-space” threat. A group of military-grade Chinese hackers access United States Earth observation satellites through a ground station in the Arctic.
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China Tops U.S. as Biggest Investment Draw for Asia-Pacific CEOs
Honolulu Star-Advertiser
The survey, conducted July through September, found 44 percent of CEOs surveyed planned to make their biggest investment in China in the next three to five years, with 10 percent naming the US The trend held across industries, including companies
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U.S. Ranks 10th In Global Prosperity Index – Falls Behind China In Economic
Sacramento Bee
By Legatum Institute A new study ranks the US 10 th out of 110 countries in a worldwide assessment of wealth and quality of life. Norway, Denmark, and Australia lead the rankings. China improved on economic indicators – moving ahead of the US for the
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US influence at G20 not diminshed, White House says
Reuters
European officials hope to coax China into using some of its massive foreign exchange reserves to play a role in a euro zone rescue fund, although Beijing has so far not publicly voiced its intentions. Domestic US politics currently rules out any grand
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Mexico pleads for US, China agreement on climate
Reuters Africa
“An agreement between the US and China is absolutely required,” Calderon told a gathering of business leaders on the sidelines of a meeting by the Group of 20 leaders in southern France. “It is important, crucial for humankind that the world’s largest
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Beijing risks public backlash if it rescues Europe
Reuters
Granted, China’s leaders can’t easily spend the foreign exchange on domestic problems. Doing so would mean converting US dollars, say, into yuan and driving up the value of a currency whose exchange rate China labors to keep steady.
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COLUMN-Airline dispute exposes US, China climate inaction-Gerard Wynn
Reuters Africa
By Gerard Wynn LONDON Nov 3 (Reuters) – A European Union plan to charge airlines for their carbon emissions has made unlikely allies of China and the United States in a trade dispute which underlines a failure in climate leadership by the world’s top
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Could China’s first ‘space kiss’ lead to a Mars mission with US?
Christian Science Monitor
Rendezvous and docking while circling the globe once every 90 minutes is a challenging feat, aerospace engineerings say, even though over the past 40 years the US, Russia, and more recently Europe and Japan have made it look routine. Now that China has
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China Trade: Another Chapter in the 2000s Weak Jobs Story
Huffington Post (blog)
The deadweight loss of financing these transfers is one to two-thirds as large as US gains from trade with China. US manufacturing employment lost 3.4 million jobs between 2000-07 (which, as shown in the link above, was the slowest business cycle for
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GE’s Immelt worries U.S. not leading on renewables
Reuters
By Scott Malone (Reuters) – General Electric Co’s Jeff Immelt worries the United States may lose ground to China in the renewable energy sector because it is not prepared to invest in solar, wind and other technologies on the same scale.
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As war of words erupts between US and China, who will speak up for benefits of
Recharge
It is not hard to feel that the growing war of words between the US and China over solar panels is part of a larger schism. “Many American politicians desperately want someone to blame for their wider ills. China is an easy target ” Undoubtedly,
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Activists slam US studio for filming in China city
digitalBURG.com
By GILLIAN WONG, AP BEIJING (AP) — Rights activists have criticized a Hollywood studio for filming a buddy comedy in an eastern Chinese city where a blind, self-taught activist lawyer is being held under house arrest and reportedly has been beaten.
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Renren Leads Internet Slide on Profit Concern: China Overnight
BusinessWeek
4 (Bloomberg) — Renren Inc., the Chinese social- networking site that completed an $855 million initial public offering in May, dropped to a four-week low, leading declines among Internet stocks in the Bloomberg ChinaUS 55 Index.
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U.S. agriculture keeps trade and politics separate in China
Western Farm Press
Following this visit, Tolman stressed the immense growth of agricultural imports into China from the US noting that, while many sectors face a trade deficit in this relationship, US agriculture actually carries a favorable trade balance here.
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US has no stomach for S. China Sea military clash
People’s Daily Online
As usual, the two countries announced that the exercises weren’t aimed at China. I think this kind of military exercise is meaningless, as the small countries are just being over-confident in their ability to provoke China and the US ultimately has no
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Adrian Hamilton: Don’t look to China to save us from ourselves
The Independent
expanding the G8 group of leading industrial nations to the G20 to include the rising powers of China, India, Brazil and others was hailed as the way to a future of global economic governance. And so it seemed at the time. As the financial meltdown
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Wen Jiabao Meets with the USChina Business Council (USCBC) Delegation
MFA China (press release)
On November 1, 2011, Chinese Premier Wen Jiabao met with the USChina Business Council (USCBC) delegation led by Muhtar Kent, Chairman and CEO of the Coca-Cola Company. “As the world’s economy is slowly recovering and facing many challenges, China and
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Tualatin’s Powin Corp. helps put upscale US products in Chinese buyers’ hands
OregonLive.com
Though America is China’s biggest market, companies in Japan, South Korea and Taiwan all export more to China than the United States does, according to the USChina Business Council. The exploding Chinese market is alluring but notoriously hard to
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A Trade War With China Will Decimate US Solar
Energy Collective
I’ve been getting up to speed on the trade proceeding initiated by SolarWorld that seeks to impose punitive duties on US companies that import Chinese solar modules. What I’ve learned is chilling. The nightmare that is likely to unfold will have severe
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India China to Achieve Trade of US$ 100 Billion by 2015
Press Information Bureau (press release)
The Union Minister for Commerce, Industry and Textiles Shri Anand Sharma has expressed confidence that India China are on course to achieve the bilateral trade target of US$ 100 billion by 2015. Trade between India and China has seen exponential growth
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Chinese company Sangfei plans to invest US$50 million in Manaus, Brazil
Macauhub
Sao Paulo, Brazil, 3 Nov – Sangfei, the Shenzhen-based company of the China Electronics Corporation (CEC) plans to invest US$50 million in its factory in Manaus in the Brazilian state of Amazonas under the terms of an agreement signed Monday in Sao
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China Corn Output Jumps 6.7% to Record in 2011, Survey Shows
BusinessWeek
3 (Bloomberg) — Corn production in China, the world’s largest grower and consumer after the US, probably rose 6.7 percent to a record this year as farmers planted more and favorable weather boosted yields, a survey showed.
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America’s other 87 deficits
Aljazeera.com
Blaming China for big US trade deficits is misguided – instead, the United States should be looking squarely at itself. The United States has a classic multilateral trade imbalance. While it runs a large trade deficit with China, it also runs deficits
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From China to America: becoming a U.S. citizen
KC Community News
The Chens have been living in the United States since 2000. They met as classmates in Fujian, China, a city near the coast in the southeast part of the country. Suzy came to the United States first, and Dexian a few months later.
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US influence at G20 not diminshed, White House says
Fox 59
CANNES, France, Nov 3 (Reuters) – White House officials bristled on Thursday at the suggestion US power within the G20 had been diminished by budget woes back home, as Europe looked toward an economically self-confident China for help.
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Henry Kissinger: G20 work is ‘essential.’ Alternative is ‘dangerous outcome.’
Christian Science Monitor
In an interview, Henry Kissinger discusses China, a shifting world order, Europe, and the G20 meeting in Cannes. Henry Kissinger is a former US secretary of state. His most recent book is “On China.” He spoke with Global Viewpoint Network editor Nathan
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The United States: A New China Alternative?
China Briefing
BCG research projects that the labor cost gap between China and the United States will grow even smaller over the next five years. The fully-loaded cost of workers in the Yangtze River Delta – the region with the highest manufacturing output in China
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Executives Discuss Firming Up USChina Film Ties
Wall Street Journal (blog)
Jiang said that the Chinese film industry still has a long way to go and is behind Hollywood, whose industry is more mature. He expressed hope that Chinese and American filmmakers will be able to learn from each other. Mintz echoed the sentiment,
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Adidas net rises 14 percent to $415 million
msnbc.com
FRANKFURT, Germany — Shoe and sports gear maker Adidas AG says net profit rose 14 percent to €303 million ($415 million) in the third quarter as sales expanded in China and North America. The company said Thursday sales were up 8 percent globally to
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Secretary Chu: America Faces a Choice to “Compete in the Clean Energy Race” or
ThinkProgress
China – like many countries – has learned from the US how government can support critical emerging industries. Last year, China offered roughly $30 billion in government financing to its solar companies, including $7 billion to Suntech.
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Chinese navy brings medical aid to Jamaica
BusinessWeek
The floating hospital was launched three years ago and is making its second foreign trip, the Chinese Embassy said. It is on a roughly 100-day journey around the Caribbean, where the United States is the largest investment source and military partner.
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US politics live blog: Herman Cain spreads blame over harassment charges
The Guardian (blog)
If China, starting with a $6tn economy, grows at 10% a year, while the US, with a $14tn economy, grows at 5% a year, then on the back of an envelope it would seem that China would overtake the US in a little over 18 years from now, or 2029.
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BC-US–Huntsman-China, 2nd Ld-Writethru,315
WLOS
Huntsman: GOP rivals don’t know enough about China Eds: Clarifies that interview was with The Associated Press. By JIM DAVENPORT Associated Press and economic policies toward China in the wrong direction. have. So, yes, we have to consider them a
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Will China Save CleanTech
The Market Oracle
China’s Cleantech investments haven’t gone unnoticed in the US and Europe. The usual backstop from beaten players is heard every day: typical claims are that China’s solar industry and windpower industry have an unfair trade advantage.
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