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U.S. China News 2012.01.29

Mon, January 30, 2012

China wary as US pushes into Asia
The Daily Telegraph
Heated debate: Filipino militants burn a US flag and a mock US stealth bomber while holding an effigy of Philippine President Benigno Aquino and Uncle Sam during a protest in Manila. Picture: AFP Source: AFP CHINA has called for greater efforts towards
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ADR Rally Swells Chalco Premium During New Year: China Overnight
BusinessWeek
30 (Bloomberg) — The biggest rally in Chinese stocks in the US in three weeks pushed up premiums on Aluminum Corporation of China Ltd. and Yanzhou Coal Mining Co. over Hong Kong shares. The Bloomberg ChinaUS 55 Index of the most-traded Chinese
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8 industries China leads where the US used to
msnbc.com
The average Chinese citizen drank about half a bottle of beer in 1961. By 2007, that amount had increased to 103 beers per year. By Charles B. Stockdale and Douglas A. McIntyre Americans are used to the US being the leader, or a top-ranked nation,
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Trade cheats beware: new US team will come after you: Kirk
Reuters
The US trade deficit with China is expected to have hit a record of about $300 billion in 2011. Obama has set a target of doubling total US exports between 2010 and 2015. Kirk’s office negotiates and enforces trade deals.
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CHINA: All Your IP Address Be Known To Us
Strategy Page
January 29, 2012: The number of Chinese Internet users grew by 12 percent last year, to 513 million. As the largest national Internet on the planet, China is trying to block out foreign news and activist sites and make the Chinese Internet largely
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Top-Performing U.S.-Listed Chinese Stocks for the Week Ended Jan 29, 2012
China Analyst
Renren Inc (NYSE:RENN) is the best-performing US-listed Chinese stock for the week. It was up 22.4% in the week. RENN’s upside potential is 33.7% based on brokerage analysts’ average target price of $7.02. It is trading at 21.9% of its 52-week high of
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Chinese shopping spree slows
Financial Times
Buoyant Chinese demand has been a wonderful palliative for western industrial companies in recent years that helped to offset anaemic European and US sales. However, comments from leading industrial companies last week suggest Chinese demand for a host
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Palace insists China not motivation for PHL-US strategic talks
GMA News
Malacañang on Sunday insisted a territorial dispute with China over the Spratly Islands was not the Philippines’ main motivation in its recent second Bilateral Strategic Dialogue with the United States this weekend. Deputy presidential spokesperson
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Ex-US president sends wishes for the New Year
China Daily
By Mike Peters (China Daily) China’s consul general in Houston, Xu Erwen, met with former US president George HW Bush at Bush’s office to applaud his significant contributions to the development of ChinaUS relations. She also wished the one-time US
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US probe on Chinese wind power products hurts both sides
People’s Daily Online
18, the US Department of Commerce officially announced that it would launch an anti-dumping and anti-subsidy investigation on the utility scale wind tower from China. It was another anti-dumping and anti-subsidy investigation met by China’s clean
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US manufacturing making comeback
Columbus Dispatch
< /p> Business leaders and economists credit the made-in-America-again trend to several factors: rising labor costs in China, increasing costs to ship products to the US, and the desire to more directly control the manufacturing process and the quality
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Shelby: U.S. government spends too much
Tuscaloosa News
China. They’re going to own us lock stock and barrel soon.” Shelby discussed how industry in China has grown since his first visit in 1981, thanks to how frugal the Chinese government is. He said while not all spending should be cut, the US needs to
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Glitzy new AU headquarters a symbol of China-Africa ties
Chicago Tribune
But the prospect of growing Chinese economic influence is welcomed by African leaders, who see Beijing as a partner to help build their economies at a time when Europe and the United States are mired in economic turmoil. And Africans are hoping for
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Apple products once made in US, now made in China
Straits Times
Foxconn Technology, which assembles iPhones in China, was flooded with applicants at a 2010 job fair. — PHOTO: CHINA DAILY (CHINA DAILY/ASIA NEWS NETWORK) – Not long ago, Apple boasted that its products were made in America.
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Chinese workers captured by Sudan South Kordofan rebels
Telegraph.co.uk
“Today is a little bit calm but we are expecting at any time SAF may launch an attack on us,” he said. Spokesmen for the Sudanese army and the Chinese embassy could not be immediately reached for comment by AFP. But the embassy told China’s official
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Yes, we can bring manufacturing jobs back here
The Seattle Times
Two years ago, 137 workers at an Apple supplier in eastern China were injured after they were ordered to use a poisonous chemical to clean iPhone screens.” Apple is hardly alone. Most nominally American companies have sent their high-tech manufacturing
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Tarter: The debate on Wal-Mart
Peoria Journal Star
“The combination of China and its pennies-per-hour labor and Wal-Mart, as the world’s largest retailer, has virtually eliminated America’s manufacturing and retailing industries,” he said. Chuck Hood has a problem with Wal-Mart, the world’s largest
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Don’t force Asian countries to take sides, Kissinger to China
Economic Times
BEIJING: The emerging competition between US and China should not be allowed to transform into a zero-sum- game pushing other nations, specially those in Asia to take sides, former Secretary of State Henry Kissinger has said. The key to good relations,
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Brother, Sister Recall Jewish Life In A Chinese Ghetto During WWII
NY1
I know why it was taken, it was really used for propaganda purposes and I remember the Japanese soldier telling us to sit down and to smile,” says Strobin. The family left China for the United States in 1949 and rebuilt their lives.
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Why Growth Matters More than Debt
The American
By Steve Conover Sunday, January 29, 2012 The proper question is not how will America pay foreigner creditors back but rather what will maintain China and Japan’s desire to buy low-interest Treasury securities from us? The US federal debt recently
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Free market failure: Isn’t it time to consider a different model?
BBC News
If we can boost spending in Europe and America by getting the banks to lend again, uncork the hidden desire for consumption in the developing world in places like China and India, and liberalise competition in countries such as Japan, France and Italy,
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SELWESKI: How can the US compete with Chinese slave labor?
Royal Oak Daily Tribune
By Chad Selweski While the US seems on the verge of achieving a more level economic playing field with China, it’s time for Congress to face head-on two basic facts: China cheats in the current global jobs competition, and China relies upon a 21st
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Zakaria: The case for making it in the USA
CNN (blog)
In a front page story last week, the New York Times detailed how Apple’s iPhone ended up being made outside America. The Times wrote about the Apple executives who visited a factory in China to see if it could cut the glass precisely for the phone’s
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How China Transformed Its Economy
American Thinker
It’s a deadly and impoverishing cycle. Early American colonists learned this lesson well over two centuries ago. The government of China adopted the reforms necessary for enrichment only a few decades ago after holding Xiaogang as a model for success.
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State of the Union making lemonade out of huge China trade deficit lemon
Zanesville Times Recorder
While I am the first to say it is about time the president and Washington realize the US job problem cannot be fixed until we can put people back to work by restoring the millions of manufacturing jobs lost to China, why has the president not taken
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Why the Chinese do better in math—Part 2
Inquirer.net
By Queena N. Lee-Chua Last week, we looked at the question of whether the Chinese have a genetic advantage over Filipinos in terms of math ability. The answer, of course, is no, as revealed by studies that showed that, during the American colonization,
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For 2 Mass. firms, opportunity in China
Boston Globe
Despite concerns about the theft of technology and rules that favor Chinese competitors, US clean tech executives say the money and the market – 1.3 billion people – are just too big to ignore. In an office in Tsinghua Science Park,
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North Korea succession offers US opportunity
San Francisco Chronicle
All of those generals and government apparatchiks want to preserve the privileged lifestyle that allows them to dine on Big Macs flown in from China, smoke well-aged Cuban cigars and sip Hennessy cognac. UN and South Korean government figures show that
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Moving the Metal
Barron’s
Demand from China and other emerging markets led the company to reduce its reliance on the US, and to boost its presence abroad. CLIFFS’ PROFITS HAVE CONSISTENTLY beaten expectations, and its earnings per share are expected to grow at more than 13%
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Rudd leads the charge on Burma
The Australian
His most pressing issues included the release of political prisoners and the controversial China-funded Myitsone dam. “What I’ve been very interested in in terms of Burma policy since the beginning of last year is trying to determine the extent to
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Rosy report predicts surge in factory jobs in US
San Francisco Chronicle
The White House was busy circulating the report earlier this month, around the same time its lead author was a panelist at an Obama-sponsored Insourcing American Jobs forum. “Beat China” is the basic theme of the study, released in August.
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Iran may impose long-term EU oil sales ban
Reuters
China and India have made clear they are keen to soak up any spare Iranian oil, even as US Treasury measures to choke Tehran’s dollar trade make it harder to pay for supplies. Qalebani said Iran would have no problem selling any oil it does not export
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China Signals Caution on Loosening as PBOC Confounds Analysts
BusinessWeek
30 (Bloomberg) — China signaled caution toward more monetary loosening by holding off on a reduction in bank reserve requirements that some economists had predicted would come before a week-long holiday ending Jan. 28. Barclays Capital Asia Ltd.,
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“Beasts,” “The House I Live In” win top awards at Sundance
Reuters
The documentary winner, “The House I Live In,” was one of many documentaries at Sundance 2012 that looked at a struggling America at Sundance 2012. It is an examination of America’s long war on drugs and critiques of US drug policies, its court system,
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Richard J. Grant: Fair trade dogged by phony currency
The Tennessean
Accepting this, for many years China chose to fix the exchange value of its currency to the dollar. What they did, in essence, was to adopt the US dollar as their monetary standard. As long as the exchange rate was fixed, the US dollar served as the
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Chinese village leader snaps, and some locals applaud
MiamiHerald.com
Walking down a dusty road with a basketful of paper offerings for Chinese New Year, 77-year-old farmer Wang Zhiming paused to describe Gao. “He was very popular here,” Wang said. “The villagers saw him as someone who watched out for us.
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Won’t buy Apple products anymore? Then don’t stop there
CNET (blog)
And that’s what the US has become pretty good at. Very high-end high-tech manufacturing that doesn’t require many workers. Like it or not, high-tech worker-intensive manufacturing–what Foxconn does–is an unstoppable Chinese juggernaut.
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US Stocks Erase Losses on Foreclosure Aid, Greece Swap Talks
BusinessWeek
27 (Bloomberg) — US stocks erased losses as banks rallied after the Obama administration said it will relax rules on a loan-modification program and optimism grew that Greece will reach a debt-restructuring agreement with bondholders.
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US Rep. Tammy Baldwin vows to fight for middle class as Wisconsin senator
The Sheboygan Press
She said her priorities moving forward include helping American workers compete with their international counterparts. Baldwin said China, for example, is “cheating” by using currency manipulation and government subsidies to artificially low prices on
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Timothy Geithner Follows Up State Of The Union Charges On China
Arutz Sheva
Speaking at Davos, US Treasury Secretary Timothy Geithner attacked Chinese trade practices, echoing Obama’s State of the Union. By Amiel Ungar US Secretary of the Treasury, Timothy Geithner, continued the Obama administration’s attack on Chinese
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‘Complete rebound’ predicted for Honda
Columbus Dispatch
Sales in the market, Honda’s largest, declined 6.8 percent last year. A big contributor to the decline was a 17 percent drop in deliveries of the Accord, Honda’s best-selling US model. The Civic is second. In China, the world’s largest auto market,
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Ford’s Quarterly Profit Misses Estimates on Overseas Woes
BusinessWeek
This year in China, Ford will begin selling the Kuga SUV, which is based on the Escape SUV sold in the US “In the forward years, you can expect to see the pace in Asia-Pacific and Africa being relatively modest for the early part,” Booth said.
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