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U.S. China News 2012.02.02

Thu, February 2, 2012

US accuses China of instigating plot against DuPont
Reuters
By Dan Levine | SAN FRANCISCO (Reuters) – Federal authorities successfully kept a US businessman in jail on Wednesday ahead of his trial on charges relating to trade secret theft, and argued that it was Chinese government representatives who directed
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Chinese travellers are seeing the USA in record numbers
Vancouver Sun
The Chinese are coming. And the US travel industry couldn’t be happier. Eager to spend their growing disposable income, travellers from mainland China’s wealthy and rising middle classes are traversing the globe in search of iconic destinations they
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Hong Kong Stocks Rise as US Manufacturing Lifts Global Outlook
BusinessWeek
Esprit Holdings Ltd., a Hong Kong-based clothier that gets about 79 percent of sales from Europe, climbed 5.5 percent after moving to close unprofitable stores in North America. Geely Automobile Holdings Ltd. led Chinese carmakers higher on speculation
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Dow Chemical CEO Sees France, Germany In Recession, Upbeat On US, China
Fox Business
Chief Executive Andrew Liveris was more bullish about demand trends in China as orders picked up before the new year, while US industrial customers are restocking after trimming inventories to record levels. Dow cut its own output in the fourth quarter
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China Says U.S. May Start More Anti-Dumping Probes on Auto Parts
Bloomberg
Enlarge image Anti-Dumping Probes on Auto Parts Anti-Dumping Probes on Auto Parts Workers check parts at the Renault-Nissan China parts warehouse in Shanghai, China. China’s commerce ministry said the US may start more anti-dumping investigations into
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Germany’s Merkel urges China to use influence on Iran
Reuters
a three-day visit when she will also seek China’s support for the ailing euro. Merkel is expected to make the case for tighter sanctions on Iran, originally proposed by the United States and designed to prevent it from developing nuclear weapons.
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Venezuela’s oil exports to US decline
The Associated Press
The United States remains the top market for Venezuelan oil, but Chavez has been diversifying his country’s clientele by selling more to China and to allies in Latin America and the Caribbean. Fluctuations in oil shipments are normal month-by-month,
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Romney stock trades clash with divestment pledge
USA TODAY
WASHINGTON (AP) – During his presidential campaign in 2007, Republican candidate Mitt Romney promised that a trust overseeing his financial portfolio would shed any investments that conflicted with GOP positions toward Iran, China, stem cell research
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$A up more than one US cent on good data
Sydney Morning Herald
A renewed appetite for more riskier currencies, sparked by encouraging manufacturing data in Germany, the US and China, took the Australian dollar to a five-month high. The rally on Thursday led the local currency upwards by more than one US cent to an
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U.S. Rare Earth Minerals, Inc. Announces Bulk Sale of Excelerite(R) to China
MarketWatch (press release)
BEND, Ore., Feb 2, 2012 (GlobeNewswire via COMTEX) — US Rare Earth Minerals, Inc., /quotes/zigman/5001599 USMN +13.92% announced today that it has received its first purchase order confirmation, underwritten by The Bank of China, from a leading
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USChina spur global factory output gains
Gulf Daily News
WASHINGTON: Factory activity rose in China, the US and Germany in January, and the three manufacturing superpowers drove gains in global output even as Europe struggles with fallout from its festering debt crisis. However, crumbling global demand
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Philippines turns toward US as concerns grow over China’s intentions
Public Radio International PRI
Palawan Bay in the Philippines is an important part of the country’s claim to part of the South China Sea. (Photo: Mary Kay Magistad) China, citing historical discoveries, says that the entire South China Sea should be its own exclusive economic zone.
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WuXi’s Margins Dwarfing US Lead China’s Drug Targets: Real M&A
BusinessWeek
2 (Bloomberg) — Companies looking to profit from the world’s fastest growing drug market and conduct animal research at half the cost of US testing are making China’s WuXi PharmaTech (Cayman) Inc. and ShangPharma Corp. takeover targets.
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China Economy Set for ‘Hard Landing’ in 2012, Shilling Says
BusinessWeek
2 (Bloomberg) — China’s economy is headed for a “hard landing” this year as weaker demand overseas chokes off exports, said Gary Shilling, who correctly forecast the US recession that began in December 2007. A Chinese government report yesterday
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US group accused over cancer fraud
China Daily
SHANGHAI – A prominent Chinese science organization has slammed an American medical institute, accusing its doctors of deceiving Chinese patients with a controversial cancer treatment. Li Qingchen, a doctor and member of Scientific Squirrels, a Chinese
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METALS-Copper falls on slow China demand, Europe debt
Reuters
* Euro slips vs dollar; Greek worries continue * China demand in focus as businesses return from holiday * US weekly jobless claims fall By Harpreet Bhal LONDON, Feb 2 (Reuters) – Copper fell on Thursday on signs of slow demand from top metals consumer
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US Senator tells China to stop targeting Tibetan protesters and allow access
Phayul
DHARAMSHALA, February 2: In a ‘Resolution Expressing Support for the People of Tibet,’ US Senator Dianne Feinstein (D-Calif.) on Monday expressed “deep concern” about the current situation in Tibet and “steadfast support” for the Tibetan people.
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Chinese solar panels may face higher tariffs in US
eco-business.com
By : China.Org The dispute between China and the United State over imports of solar panels is set to make life more challenging for Chinese companies. That’s after the US Department of Commerce said it saw “massive imports” from China in late 2011,
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Scholar: US Should Adopt China’s Attitude Towards Government
Voice of America (blog)
A noted scholar says the United States should adopt China’s practice of long-term planning to maintain its position as the world’s leading economy. Ann Lee, author of the book “What the US Can Learn from China,” tells VOA American political and
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Why Burma Would Turn Against China
The Atlantic
Since the junta’s brutal crackdown of protesters in 1988, the United States and the European Union have imposed increasingly robust economic sanctions against the regime. China also faced international condemnation over the repression of demonstrators
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India preparing for ‘limited conflict’ with China: US intelligence chief
Daily Pioneer
The US intelligence believes that the Indian Army is preparing for a “limited conflict” with China in the light of growing concerns over Beijing’s strident postures along the disputed border and in the Indian Ocean and Asia-Pacific region.
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Diamond exporters eye Japan, China; US market slow
Economic Times
MUMBAI: Indian diamond exporters are relying more on the Asia Pacific market than on the US, the world’s biggest importer. Demand from China has gone up 40% over the last year while Japan has been buying premium diamonds in large volumes.
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Manufacturing in US Bolsters Global Expansion: Economy
BusinessWeek
1 (Bloomberg) — Manufacturing in the US grew in January at the fastest pace in seven months, adding to signs of a global pickup from Germany to China. The Institute for Supply Management’s index climbed to 54.1, from 53.1 in December, the Tempe,
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Analysis: Middlemen take toll on China agricultural profits
Reuters
By Langi Chiang and Nick Edwards | BEIJING (Reuters) – Want a slice of the billions of dollars China spends each year on farm subsidies? Become a middleman and open a toll road. Operators of the vast network of roads that connect China’s fields to
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Authorities take aim at China-based Super Bowl fakers
AFP
INDIANAPOLIS, Indiana — US authorities have seized a record $4.8 million in fake Super Bowl souvenirs and tickets and shut down 669 websites, most from China, aimed at duping consumers with counterfeit items. US Immigration and Customs Enforcement
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Why ‘Made in China‘ Is Starting to Get Too Expensive
DailyFinance
Consider a recent study published by the Boston Consulting Group entitled Made in America, Again. The study makes just that assertion. And what happens when you combine lower productivity with the rising wages that Chinese laborers now demand?
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Global Metals Market to Reach US$872 Billion by 2015, According to New Report
San Francisco Chronicle (press release)
Continued increase in metal consumption in developing countries including India, China and Brazil is expected to fuel the overall global metals market. Follow us on LinkedIn – The world metals market stabilized in 2010 and 2011 following a steep
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NBA prepares for players in China to return
USA TODAY
By J. Michael Falgoust and Jeff Zillgitt, USA TODAY Power forward Kenyon Martin is the one player the Denver Nuggets have found to be irreplaceable. And because of that, he’ll be a hot free agent as early as this month. By Brandon Wade, AP Forward
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America’s economy in 2012 is like a plane flying at low altitude
Fox News
Without assertive efforts to address structural problems—huge trade deficits with China and on oil, and expensive and ineffective regulations in banking and health care—the country is headed for years of high youth unemployment and permanent
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Chinese tourists visit U.S. in record numbers
Tucson Citizen
31, 2012, under USA Today News Eager to spend their growing disposable income, travelers from mainland China’s wealthy and rising middle classes are traversing the globe in search of iconic destinations they can cross off their bucket lists.
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Japanese Futures Gain on Manufacturing Growth in US, Europe
BusinessWeek
Bloomberg ChinaUS 55 Index of the most-traded Chinese equities in the US gained 1.6 percent to 104.96 in New York, the highest since Sept. 7. Commodity producers led by Cnooc Ltd. widened premiums over Hong Kong shares on signs global manufacturing is
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Worst yet to come for China growth: economist
Reuters
DANGERS AHEAD Zhu is pessimistic about the US economic outlook, given weak consumer demand and believes Europe’s debt-ridden economy will only get worse in the coming months. He also highlighted three major dangers in the Chinese economy: a downturn in
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China Auto 1st Chinese IPO filer since US rule change
China Daily
China Auto Rental Inc became on Jan 18 the first Chinese company to file for a US listing since regulators changed the rules so foreign issuers can no longer keep private the first draft of their registration statements. The Beijing-based car rental
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Records show how wealthy shape US presidential race
China Daily
By John Whitesides (China Daily) WASHINGTON – Groups known as “Super PACs” raised more than $42 million to back Republican US presidential contenders in 2011, according to campaign filings that show how new donation rules are allowing a relatively few
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Facebook IPO Likely to Boost China’s SNS
CRIENGLISH.com
Facebook’s planned initial public offering (IPO) is likely to give impetus to China’s social networking service (SNS) and boost its development, industry insiders say. Facebook filed with the US Securities and Exchange Commission on Wednesday to raise
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China Surpasses US as World’s Largest Manufacturer
Modern Distribution Management
No need to worry about China overtaking the US as the world’s largest manufacturing nation; according the United Nations, it’s already happened. Sign up below to receive MDM Update, your free weekly distribution news update by email.
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Online video firm Youku sues rival Tudou: report
Reuters
The suit, which intensifies the battle over hugely popular online video viewing in China, said the claims by Tudou caused Youku’s share price and advertising revenue to decline, and raised concerns among investors and the US Securities and Exchange
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Asia Currencies Strengthen to Three-Month High on U.S. Manufacturing Data
Bloomberg
The MSCI Asia-Pacific Index (MXAP) of shares gained for a third day after reports yesterday showed US manufacturing expanded at the fastest pace since June and production gauges in China and India rose in January. Global funds bought $1.3 billion more
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Asian Shares Rally As U.S. Data Boosts Risk Appetite
NASDAQ
(RTTNews.com) – Asian shares rallied on Thursday as upbeat manufacturing data from China, Germany and the US bolstered the outlook for global economic growth. Adding to optimism over Greece, reports said the Greek bond holders would be offered
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Gold rises to two-month high, eyes US payrolls
Economic Times
NEW YORK/LONDON: Gold rose on Thursday for a third consecutive day on a larger-than-expected fall in new US claims for unemployment benefits, but analysts said bullion could pull back due to an upcoming US jobs report. Bullion hit a two-month high,
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China’s ZTE Introduces First U.S. Tablet, the $99 Optik for Sprint
All Things Digital
ZTE, the fast-growing Chinese phone maker, on Thursday announced its first tablet for the US market. The Optik, for Sprint, will sell for $99 with a two-year contract, or $349 without a contract. It runs the Honeycomb version of Android,
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Clapper sounds alarm on cyber capabilities of Iran, China and Russia
FierceGovernmentIT
31, top US intelligence official James Clapper revealed little new but sounded alarm bells against an increasingly aggressive Iran and the cyber-intelligence capabilities of China and Russia. “Iran’s intelligence operations against the United States,
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Stocks Best Start Since ’94 Tops Commodities on US Rebound
BusinessWeek
Almost $3 trillion has been added to stock values and European shares ended a five-month bear market as economists lifted forecasts for US gross domestic product. Reports showing American unemployment and Chinese inflation declined, while German
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