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U.S. China News 2012.02.07

Tue, February 7, 2012

Chinese official: China, U.S. have ‘trust deficit’
MarketWatch
By MarketWatch BEIJING — A top Chinese official has warned of a “trust deficit” between Beijing and Washington and expressed hopes that a key visit to the US next week by China’s leader-in-waiting would strengthen ties. Vice Foreign Minister Cui
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Chinese, US Vice Presidents Discuss Bilateral Relations in Phone Conversation
CRIENGLISH.com
Xi, who is scheduled to pay an official visit to the United States next week, said during the talk with Biden that ChinaUS relations have maintained their momentum for steady, positive development over the years. Xi said that his trip is aimed at
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EU sees opportunity to defuse aviation emissions row with China, US
Monsters and Critics.com
Brussels – The European Union is ready to amend a controversial carbon emission scheme for airlines, which is causing frictions with the United States and China, if international negotiations on the issue progress within six to eight months,
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Guest commentary: Hoekstra’s embarrassing ad is heard loud and clear in China
Detroit Free Press
By now, everybody has seen Hoekstra’s controversial ad that aired during the game, which features a ChineseAmerican woman speaking broken English and thanking US Sen. Debbie Stabenow for helping China’s economy at Michigan’s expense.
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After US oil snub, Canada focuses on China
YouTube
Prime Minister Stephen Harper says Canada wants to expand economic ties with China, in the wake of the US decision to block the Keystone oil pipeline project. — Video by Reuters.
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China says may send envoy to discuss Syria crisis
Reuters
By Ben Blanchard | BEIJING (Reuters) – China is considering sending an envoy to the Middle East to discuss the crisis in Syria, the foreign ministry said Tuesday, as it sought to assuage popular anger at its vetoing of an Arab League-backed UN
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China: Fast food nation. Too fast economy?
CNN
Brands and other well-known US consumer companies are big in China. But will worries about a housing bubble hurt US sales in China this year? NEW YORK (CNNMoney) — Is China’s economy heading for a hard or soft landing? Well, it looks like Chinese
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Exclusive: China buys up Saudi, Russian oil to squeeze Iran
Reuters
“On average, Saudi exports went up by 200000 barrels per day and this went to the East, overwhelmingly to China,” said one of the sources, a senior executive with the trading arm of a US oil company. A source familiar with the matter, who declined to
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US WTO Case Against China ‘Major Reason’ for Citibank Nod
BusinessWeek
New York-based Citigroup announced yesterday that it will become the second foreign bank, and the first western one, allowed to issue its own credit card in China. The news came about 10 months after the WTO said it would investigate a US complaint
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India backs trilateral dialogue with US, China
Economic Times
WASHINGTON: Backing the US proposal for an India-ChinaUS trilateral dialogue, India has said there are a host of global and regional challenges on which the three countries can work together. “There are a number of global and regional challenges on
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Harman Q2 beats as China drives growth, shares rise
Reuters
N) quarterly results beat market forecasts for the third time in a row, on strong demand in China where customers lapped up the US audio systems maker’s products as their spending power increased. The strong results drove the stock up as much as 9
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China Credit Cards, Danish Loans, Mortgage Deal: Compliance
BusinessWeek
By Carla Main and Ellen Rosen (Adds mortgage deal and Express Scripts-Medco in Compliance Action and Bank of America in Courts.) Feb. 7 (Bloomberg) — China’s decision to allow Citigroup Inc. to issue credit cards in its own name may signal a step
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Up to 10000 Myanmar refugees seek refuge in China
Reuters
The conflict could jeopardize the former Burma’s efforts to convince the European Union and the United States to lift wide-ranging sanctions against the country, which is slowing efforts to open up and democratize after decades of army rule.
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World watches as China economic leaders take stage
Reuters
Third, the men who will chart China’s course over the next decade are stepping out more onto the world stage. Vice-President Xi Jinping, who meets US President Barack Obama at the White House next Tuesday, is all but certain to take the reins of the
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US trip of China’s next leader: From Obama to Iowa
STLtoday.com
19, 2011 file photo, Chinese Vice President Xi Jinping and US counterpart Joe Biden, not in the picture, attend a meeting with US and Chinese business leaders at the Beijing Hotel in Beijing, China. Xi, who will take over the presidency from Hu Jintao
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VIEW: Is USChina collision inevitable? —SP Seth
Pakistan Daily Times
With the US now disengaged from Iraq, and in the process of military withdrawal from Afghanistan by 2014, it has dawned on Washington that China has strengthened its role in the Asia-Pacific and is slowly, but steadily, working to push it out of the
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Sohu Leads Internet Slide as Profit Disappoints: China Overnight
BusinessWeek
7 (Bloomberg) — Sohu.com Inc. tumbled the most in two years, and an index of Chinese US-traded stocks dropped from a five-month high, as the owner of China’s third-biggest search engine posted an unexpected decline in profit.
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US takes president’s China policy as right path: MAC head
Focus Taiwan News Channel
Lai also said the US believes Ma’s policy of pursuing closer and friendly links with China helped him win re-election in the Jan. 14 presidential election. All messages regarding Ma’s China policy Lai has received during her trip to the US are
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US Law Firms in China Enjoy Competitive Edge Because They Pay Better
JDJournal.com
While until now, Hong Kong had acted as a gateway to China with international litigation dominated by large British law firms, the scene is changing drastically. US law firms with smaller presence are carrying a bigger punch as they continue to draw in
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Wal-Mart Picks New China Chief
Wall Street Journal
American’s largest retailer replaces its China head as it seeks to regain ground in the world’s most important growth market. The WSJ’s Deborah Kan speaks to Carlos Tejada. The retailer on Tuesday named Greg Foran, who recently had been appointed
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Omar dismisses US report of limited India-China conflict
Deccan Herald
Jammu and Kashmir Chief Minister Omar Abdullah today dismissed the US intelligence assessment of a possibility of a ”limited” India-China conflict, saying the two countries have ”good relations”. “India and China have good relations.
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China and the US: What is the middle way to continue the relationship?
News Pakistan
Over the years China has become an economic super power and the main reason has been her forte in production and cheap production in particular. In the last one decade the country has snatched the production rights in the US and has provided the world
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Chinese Oilseed Imports to Rise 9.2% in 2011-12, Oil World Says
Bloomberg
China is the world’s largest buyer of soybeans, accounting for 59 percent of world imports in 2010-11, data from the US Department of Agriculture show. The country produced 5.7 percent of last year’s global soybean crop, according to the data.
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US wind firm presses theft charge against China rival
AFP
WASHINGTON — US wind energy company AMSC said Monday it had filed three civil lawsuits in Chinese courts against rival Sinovel Wind Group Co., which it accused of stealing industrial secrets. “AMSC is seeking to recover more than $1.2 billion for
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Small Businesses Get Help Exporting to China
NewsFactor Network
Along with government support, private firms are springing up to assist US businesses in dealing with foreign currency and communication issues in complex markets such as China. E-commerce sites make it easier than ever to get products in front of
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Michigan work may go to China
Royal Oak Daily Tribune
By JERRY WOLFFE More than 400000 jobs in the US auto supply chain have been lost since 2000 and another 1.6 million US jobs are at risk unless China’s illegal trading practices are curtailed, according to three reports. In Michigan, 249989 jobs are at
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Pet Food Product Recalls, U.S. Senator Expresses Concerns
ChicagoNow (blog)
By Steve Dale, today at 8:33 am Thank you Senator for stepping up on behalf of all family members, including us – human foods have the same issue. When it comes to the truth on imported food products, particularly from China, US officials typically
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Tibetans Burning
Wall Street Journal
The US has expressed “disgust” with the Chinese and Russian vetoes of a United Nations resolution to condemn the Syrian regime, and rightly so. So why is the Obama Administration saying so little when it comes to ongoing violence against another
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Wind Power Market Rose to 41 Gigawatts in 2011, Led by China
BusinessWeek
China installed 18 gigawatts of turbines in 2011, followed by the US with 6.8 gigawatts and India’s 3 gigawatts. Germany, the UK, Canada and Spain followed, according to the Brussels- based industry lobby group. Growth in the market occurred as
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U.S. Stocks Decline as Greece Holds Talks to Secure Rescue Funds
San Francisco Chronicle
China’s industrial output growth is likely to slow this quarter, the government said. Federal Reserve Chairman Ben S. Bernanke speaks on the state of the US economy. Equities fell yesterday, following a five-week advance for the S&P 500, amid concern
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Farmers Plan Biggest U.S. Crop Boost Since 1984, Led by Corn: Commodities
Bloomberg
billion and pushed the value of farmland to a record $2350 an acre, the US Department of Agriculture estimates. Global food costs are down 11 percent from a peak a year ago as grain output rises from China to Canada, United Nations data show.
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Christian Groups at U.S. Universities Forced Underground
Opposing Views
One report I read cited a Chinese student who recognized the American university’s demands to quell free speech and seek to control the faith and practice of conservative evangelicals and devout Catholics. The Communists in his home country have
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Total Says SunPower Can Withstand China Solar Panel Competition
Bloomberg
SunPower Corp., the US solar panel- maker controlled by Total SA (FP), is strong enough to resist competition from Chinese manufacturers until the industry revives in 2014, an executive at the French oil company said. This year and next “will be
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New sanctions on Iran constrict trade flows to Asia
Reuters
“We don’t do money laundering with Iran and our won-denominated bank accounts have nothing to do with the toughened US measures,” a Bank of Korea source told Reuters. TRADE OBSTACLES Only a select few Chinese banks are still willing to process payments
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GM China Sales Drop During New Year Holiday
Bloomberg
The Detroit-based company plans to focus on expanding its luxury car brand Cadillac and its sport-utility vehicle lineup in China to double deliveries in the country by 2015. The Lunar holiday, like Thanksgiving or Christmas in the US,
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Getting even with China
Scholars and Rogues
It’s easy to blame China for lots of stuff. Its absurd veto (along with Russia, someone else we can blame stuff on) of the recent Security Council Resolution over Syria. Its persistent devaluation of the renminbi to keep it cheap to the US dollar.
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China buys more corn
DesMoinesRegister.com (blog)
China showed up as a corn buyer on the US Department of Agriculture’s weekly export inspections, with 4.7 million bushels posted for inspection for the week ending Feb. 6. For the marketing year that began last Sept. 1 China has increased its corn
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Why China Will Avoid A Crash And A Hard Landing
Forbes
Instead of blocking Chinese investment in the US, Guthrie believes encouraging globalization could help the anemic economic recovery while reducing global imbalances. The International Monetary Fund (IMF) cut its 2012 GDP forecast for China to 8.2%
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US STOCK FUTURES: HOT STOCKS TO WATCH
Wall Street Journal
Yum Brands’ fourth-quarter income rose 30% as the fast-food company’s sales in China continued to grow, and US sales improved. Shares were up 2.1% premarket at $64.50 as earnings and revenue beat estimates. Becton Dickinson’s fiscal first-quarter
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China Sunshine Funds Miss Hedge Slump to Triple Assets
BusinessWeek
Eighty-eight Greater China-focused hedge funds around the world, including those that trade foreign-currency shares of Chinese companies quoted in international exchanges such as Hong Kong and the US, lost 14 percent last year, according to data from
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Facebook in China and India Could Be Huge; Technology Report by Profit
Houston Chronicle
He notes that Facebook has over 800 million users from around the world, including 80% located outside of the US “It will be exciting to see how Facebook does in China; but one thing’s for sure: I expect social networking could be the next big thing if
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US consumer confidence jumps, globally shoppers still cautious -Nielsen
Reuters
China also saw a jump in confidence, helped in part by easing food inflation. Confidence was highest in India for an eighth straight quarter and India’s reading rose by a point from the third quarter to 122. It was followed by the Philippines and
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U.S. Leading Alternative Energy Race — SatCon and A123 Systems Look to Benefit
MarketWatch (press release)
Access to the full company reports can be found at: A report by Bloomberg New Energy Finance (BNEF) last month said that the United States last year regained its title as the top country for clean energy investment, beating out China for the first time
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US Midwest hogs trade steady to 50 cents lower
Reuters Africa
Feb 7 (Reuters) – US Midwest cash hogs traded steady to 50 cents lower on Tuesday, dealers said. * Supply outpacing demand amid lower exports, lower cash margins and lower cutout values, dealers said. * China exports appear off 2011’s strong $6 billion
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Global shifts guarantee US election humdinger
Daily Dispatch Online
The third issue is the rise of China. At one level, there is no real competition between the two countries. The US remains the most powerful country in the world on any indicator – economic or military. But one thing is undeniable, China’s population
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Independents and Democrats agree on key economic proposals
Independent Voter Network
Giving tax breaks to US corporations that bring manufacturing jobs back to the US from overseas. 2. Pressuring China to allow fairer trade between the US and China. 3. Increasing federal government spending to support the development of alternative
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