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U.S. China News 2011.01.19

Thu, January 19, 2012

China: US sanctions on Chinese oil firm unreasonable
People’s Daily Online
At a daily press briefing yesterday in Beijing, China’s Foreign Ministry spokesperson Liu Weimin was asked whether China deems the US act as a violation of the World Trade Organization (WTO) rules and plans to submit the case to the WTO.
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US, Filipino forces plan combat drills at oil rigs near South China Sea waters
Washington Post
MANILA, Philippines — US and Philippine marines plan to hold combat drills at an oil rig in the South China Sea to bolster the defense of such sensitive facilities in a bold move that may provoke protests from China, which claims waters in or near the
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China Jails Activist Writer, Another to Seek US Asylum
Voice of America (blog)
In a separate development, Chinese dissident writer Yu Jie says he will seek asylum in the United States, after undergoing torture in 2010 by police in his homeland because of his close association with jailed Chinese Nobel laureate Liu Xiaobo.
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Obama Orders Steps to Bolster Foreign Travel to US
BusinessWeek
19 (Bloomberg) — President Barack Obama is ordering steps to increase the number and speed the approval of non- immigrant visas, particularly in China and Brazil, as part of an effort to create tourism jobs in the US, the White House said.
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Suspicion grows China behind hacking of US commission emails
Economic Times
WASHINGTON/BEIJING: Suspicion is growing that operatives in China, rather than India, were behind the hacking of emails of an official US commission that monitors relations between the United States and China, US officials said.
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Chinese dissident in US tells of harassment, torture
Los Angeles Times
REPORTING FROM BEIJING — Chinese dissident writer Yu Jie, who fled to the United States this month, says he was tortured and harassed in 2010 even as the Nobel Peace Prize was being awarded to his best friend, Liu Xiaobo. Speaking at a news conference
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Europe Stocks, Euro Gain After Debt Sales; U.S. Futures Advance
San Francisco Chronicle
The S&P 500 has rallied 4 percent this year as US economic reports and speculation that China will loosen monetary policy outweighed concern that downgrades for European nations would worsen the debt crisis. That’s the biggest gain since it rose 10
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Modest China slowdown as exports, housing drag: Reuters poll
Reuters
in danger of slipping into a recession and growth looking sluggish in the United States, China’s exports will struggle. A senior Chinese official called the 2012 export outlook “grim,” according to a report by the Xinhua news agency on Saturday.
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China’s Wen defends Iran oil, warns on nuclear aims
Reuters
Speaking at a news conference in Doha, Wen also took aim at both potential threats to China’s oil imports: the US sanctions pressure and the Hormuz tensions. “I also want to clearly point out that China’s oil trade with Iran is normal trade activity,”
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Bloggers in China sound off on SOPA blackout
Los Angeles Times
“Now the US government is copying us and starting to build their own firewall,” wrote one micro-blogger, relating China’s chief censorship tool to the US plan to block sites that trade in pirated material. The Relevant Organs, an anonymous Twitter
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Obama’s Keystone XL Pipeline Rejection Is a Gift to China
U.S. News & World Report (blog)
The decision to reject the pipeline will also have a profound effect on efforts to make America more energy independent. At the same time the decision is a gift to China, which also wants the tar sands oil. Rather than running the pipeline south into
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China may benefit from US passing up on Canada’s oil pipeline proposal
The Desert Sun
the 250 billion barrels of estimated Canadian reserves would be irrevocably lost to the US My sources indicate that Prime Minister Harper is prepared to make an immediate trip to Beijing to seal a long-term commitment between Canada and China.
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Analysis: China as lender of last resort…more than just a loan
Reuters
In November, Bank of China, ICBC, and China Merchants Bank were part of a 30-bank syndicate to lend $6 billion to Duke Energy, which is buying Progress Energy to become the largest US electric utility. The quid pro quo for China in that loan was that
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US Ambassador Locke: Chinese Riled at Communists
NewsMax.com
By Henry J. Reske US Ambassador to China Gary Locke says the Chinese are upset with the country’s Communist Party, and the political situation in Beijing is “very, very delicate.” “There is a growing frustration among the people over the operations of
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Investment In America Places China At The Top Of Foreign Holders Of American
San Francisco Chronicle (press release)
“The Great Fall of China” eBook, examines the fact that China’s Investments in the US makes them a major player, who has kept America’s economy from sinking. China’s 9.8% approximate American debt holdings has recently surpassed Japan, who has American
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Ties with China important: US
Zee News
The diplomat highlighted the frequency with which the Chinese and US heads of state met as a positive achievement in 2011, said Xinhua. At the beginning of last year, President Hu Jintao paid a state visit to the US, where Hu and US President Barack
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US Stocks Firm
Wall Street Journal
Asian bourses were mostly higher, with China’s Shanghai Composite climbing 1.3% and Japan’s Nikkei Stock Average rising 1%. Gold futures edged down 0.2% to $1655.80 an ounce, while crude-oil futures gained 0.6% to $101.20 a barrel. The US dollar lost
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China Auto first Chinese IPO filer since US rule change
Reuters
Foreign companies can no longer keep prospectus private * JP Morgan underwriting $300 million ADS listing * US-listed China stocks hit by accounting scandals Jan 19 (Reuters) – China Auto Rental Inc became on Wednesday the first Chinese company to file
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US faces challenge as Asian submarine fleets swell, sending battle for control
Washington Post
“This is shaping up as an intense arms race,” said Lyle Goldstein, an associate professor at the China Maritime Studies Institute of the US Naval War College. “This arms race is not simply China versus the rest — though that explains much of it
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Here’s Why American Manufacturing Will Make a Comeback
msnbc.com
With oil prices on the rise, and the average transit time coming in at about 21 days from China to the United States, there are obvious benefits to moving production back to the US Of course, multinational corporations could try to move their factories
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Cheap Chinese Panels Spark Solar Power Trade War
NPR
There’s a solar trade war going on inside the US, sparked by an invasion of inexpensive imports from China. The US solar industry is divided over these imports: Panel-makers say their business is suffering and want a tariff slapped on the imports.
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US to Create Outer Space Code of Conduct with Other Nations
DailyTech
The new code of conduct announcement also addressed “irresponsible actors,” which likely indirectly referred to China’s space behavior back in 2007 when it destroyed a dead weather satellite with a rocket. In late 2011, the USChina Economic and
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Report: US Lost 28% Of High-Tech Manufacturing Jobs
Manufacturing.net
America’s science and engineering enterprise. It is a policy-neutral document, providing facts widely used by policy makers, federal agencies, researchers and the news media. — Three countries—the United States, China and Japan—were responsible for
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China Life Leads Gains in NY Index on Lending: China Overnight
BusinessWeek
19 (Bloomberg) — Chinese stocks in the US advanced, led by China Life Insurance Co., on the prospect policy makers will allow banks to boost lending to help avert a slowdown in Asia’s fastest growing economy. The Bloomberg ChinaUS 55 Index of the
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Shrugging Its Dependence On US, China Is Launching Its Own GPS Satellites
Singularity Hub
The precision is pretty comparable to the system the US currently has in place. But more than a safety net in the plausible case that ChinaUS relations take a major downturn, China expects Beidou to be a boon to their already burgeoning economy.
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U.S. Corn Sold to Mexico, South Korea; Soy to China
Bloomberg
US exporters sold a combined 264700 metric tons of corn to Mexico and South Korea, and 120000 tons of soybeans to China, the US Department of Agriculture said today in an e-mailed statement. The corn sales include 154700 tons to Mexico and 110000 tons
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US academic says Taiwan can be proud of elections
Taipei Times
It was an election with minimal reports of vote-buying, which shows that Taiwan has the ability to conduct a clean and peaceful poll, Jerome Cohen said at an event sponsored by the National Committee on United StatesChina Relations.
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Thursday’s 4 Key Stories – “Risk-On” Extends on Euro-zone Auctions, US
Action Forex
On Monday, the market saw data from China and seeing growth faltering to the lowest level in 10 quarters began pricing in looser monetary policy from the People’s Bank of China. Today we got some movement in that direction as Chinese bank regulators
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Analysis: China has multiple choices to avoid hard landing risk
Reuters
Contrast that with deep deficits across Europe and the United States and the orthodox policies forced upon central banks on both continents in a desperate bid to avoid a slide into economic depression. It adds up to China having every chance to steer
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Bank of America profit boosted by one-time gains
Reuters UK
The Charlotte, North Carolina-based bank benefited from pretax gains of $5.3 billion from the sale of China Construction Bank Corp (0939.HK) shares, and gains from the exchange of trust preferred securities and the sale of debt securities.
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US unlikely to play dominant role in resolving South China Sea issue
People’s Daily Online
By Ding Gang (People’s Daily) Recently, two conferences relevant to the issue of South China Sea have been held in China and the United States. One is the Fourth Senior Official Conference held in Beijing, which is for China and ASEAN’s implementation
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US asset managers still like China
Medill Reports: Chicago
by Qixin Wang US asset managers and investment strategists still like China, despite its fourth quarter growth slowdown. “China will still be growing strongly compared to Western economies,” said Aberdeen Asset Management’s Senior Investment Manager
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How the world views Romney
The Seattle Times
Romney’s pledge to designate China as a currency manipulator and pursue litigation against its “unfair trade practices” hasn’t won much support in the Chinese press, which is generally of the opinion that Beijing becomes a scapegoat every US election
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US Difficulties and the Prospect of Revival – Will China Rule?
Freepress Online
Professor Seth Singleton will present a discussion on “US Weakness in a 21st Century World: Will Asia and China Rule?” on Tuesday, January 24, at the Camden Public Library. The talk will run from 6:30 to 8 pm and is free and open to all.
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Mac sales growing faster for Apple in China than US
Apple Insider
By Neil Hughes Apple’s growth story in China now extends beyond the iPhone and iPad, with Mac sales there also continuing to outpace the US in terms of year over year growth, according to a new report. Analyst Ben A. Reitzes with Barclays Capital said
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Consumer Trends in the Dairy Market in China, 2011
Sacramento Bee
Group7.4.11 Other8 Appendix8.1 About Canadean8.2 Disclaimer Table 1: Volume Units for the Dairy MarketTable 2: Foreign Exchange Rate – CNY Vs. US$, 2011Table 3: Population ProfilesTable 4: China Dairy Value Share (%), by Age Groups, 2011Table 5: China
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The subtle economic challenge of China
MiamiHerald.com
BY CHRISTOPHER SABATINI Latin America’s exports to China have jumped 1500 percent from 2000 to 2010, China’s investment in Latin America jumped over 180 percent between 2008 and 2010, and the Middle Kingdom has displaced the US as Brazil and Chile’s
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China Health Resource Pharmaceutical Grade Gastrodia Product Line Expected to
MarketWatch (press release)
Gastrodia currently retails for about 250~1000 yuan/kg (US$38~150/kg) and is considered one of China’s highest value TCM drugs available in the market. This exclusive arrangement for the supply of Gastrodia is expected to generate an estimated combined
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Blackstone pursuing China deals after exiting Evergrande JV
Reuters
Last March, Blackstone paid $9.4 billion for 593 shopping malls in the United States to CNPR Ltd (CNP.AX), an Australian company sagging under its debt burden. Evergrande is the second-largest developer in China, by sales volume.
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America’s Great Firewall?
Business Insider
I was therefore predisposed to support Isaac Stone Fish’s FP Passport post on the use of China comparisons by folks fighting against SOPA/PIPA, a proposed US scheme to fight Internet piracy. His basic point? Whatever one may think of these draft laws,
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The prophecies of Ron Paul
Christian Science Monitor
China will “align itself with the Arab nations” through arm sales and political support, Paul argues. Generally the US and China end up on opposite sides of Middle East issues – particularly Libya, for example – but Paul makes this connection seem that
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General Motors: China’s Top Foreign Automaker
Wall Street Pit
However, General Motors is looking beyond the US for its growth, specifically the company’s growing position in China’s massive auto sector, which has softened somewhat over the past year. Nevertheless, it continues to be the world’s largest auto
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