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U.S. China News 2012.02.08

Wed, February 8, 2012

Chinese state TV to air in U.S.
New York Daily News
By AP China Central Television tower is visible in skyline of Beijing. The Chinese state TV news is coming to the US via CCTV America. BEIJING — Chinese state broadcaster CCTV is launching its American service this week as part of a major overseas
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China police chief may seek US asylum
USA TODAY
BEIJING (AP) – The former top cop of a major Chinese city has dropped from sight amid unconfirmed reports he is seeking US asylum following a quarrel with one of China’s most powerful local politicians. Former Chongqing city police chief Wang Lijun may
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China morning round-up: Xi Jinping’s US visit
BBC News
Wednesday’s Chinese newspapers discuss the forthcoming visit to the US by Chinese Vice-President Xi Jinping. Experts believe that Mr Xi’s visit “will help ChinaUS ties fly clear of US election year turbulence”, says the China Daily.
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Regional Benchmarking for Wind Energy Market of China, US, Germany, and India
MarketWatch (press release)
Four nations–Germany, the US, China and India–have been taken into consideration to analyze the overall wind energy market. This report identifies factors contributing to the competitive advantages of the wind energy sector and measures the
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China US trade imbalance: bad policy or payback for CIA use of stolen WWII gold?
Exopolitics Institute News Service
One of the enigmas of US trade policy is the willingness of policy makers to allow China open access to US markets while China throws up many obstacles to American imports. This has predictably led to the US China trade imbalance becoming an issue in
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Column: US solar needs innovation, not protection: Gerard Wynn
Reuters
By Gerard Wynn | LONDON (Reuters) – A brewing green energy trade war, with mooted US retaliation against Chinese makers of solar panels and wind turbine parts, is high on rhetoric but distracts from a bigger technology race.
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Pete Hoekstra’s ad raises ire in China — and a sense of deja vu
Washington Post (blog)
By Keith Richburg The now-infamous Super Bowl ad by Michigan senate candidate Pete Hoekstra has attracted as much curiosity as outright criticism here in China, the intended “subject” of the ad. US Senate candidate Pete Hoekstra (R-Mich.).
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The App Economy Produces Twice as Many US Jobs as There Are in Apple’s Chinese
Forbes
The end result of it is that the app economy (writing apps for smartphones and Facebook essentially) produces twice as many jobs in the US economy as there are people working to manufacture Apple’s products in China. So we might usefully assume that
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Philippines seeks US help to counter China
Aljazeera.com
The United States and the Philippines will hold combat drills together to counter China’s rising influence in the area. Bangkok – The government of Philippines President Benigno Aquino may be wading into choppy diplomatic waters by turning to the
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Singapore warns US on anti-China rhetoric
Inquirer.net
Shanmugam is currently visiting Washington to meet US policy makers. AFP PHOTO/JEWEL SAMAD WASHINGTON, February 8, 2012 – Singapore on Wednesday urged the United States to be careful in comments on China, warning that suggestions of a strategy to
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After US Oil Snub, Canada Looks to China
NTDTV
On the heels of the Obama administration’s decision to reject the Keystone oil pipeline — Canada is taking its business to China. Prime Minister Stephen Harper spoke to Reuters in Ottawa — ahead of the country’s most important top-level trade
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China’s Semiconductor Manufacturing Jumps in U.S. on Forecast
Bloomberg
The company’s American depositary receipts advanced 4.2 percent to $2.73 by 10:10 am in New York. They earlier surged 7.6 percent, the biggest intraday gain since Nov. 2. Semiconductor’s revenue for the first quarter this year will rise between 7
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Entrepreneur Pushes Chinese Role in Global Credit
ABC News
His argument: China and other cash-rich developing nations shouldn’t have to rely on ratings agencies in the deeply indebted United States — especially after they helped fuel the global crisis that plunged the US and then Europe into economic turmoil.
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BHP Billiton tempers outlook, sees China growth
Reuters
After underperforming the market last year, BHP’s shares have jumped 11 percent so far this year, nearly double the rise in the broader market, on confidence in a US recovery and a soft landing in China. On Tuesday, Glencore unveiled an agreed takeover
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US ‘Not Interested’ In China Confrontation, But Risks Remain
Forbes
The China Daily interviewed two former government officials who said that while US foreign policy was not designed to choke China off from the rest of the region, the relationship between the two countries was a tough balancing act.
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Analysis: More than just Great Firewall awaits Facebook in China
Reuters
China’s SNS space is more crowded and competitive than the US with multiple large and established players all investing for long-term growth,” said Joe Chen, chief executive of Renren, which would become a direct competitor with Facebook should the US
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China-themed attack ad: filmed in California with American actress
GlobalPost (blog)
The actress in US Senate hopeful Pete Hoekstra’s controversial ad: an Asian-American depicting a Chinese woman pleased with America’s debt to China. (Screengrab) This token Asian sights and sounds in this campaign ad by US Senate hopeful Pete Hoekstra
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China Needs a Hard Landing to Cleanse System: Fund Manager
CNBC.com
After the US and Europe, China’s economy is going to be next in line for a major credit crisis and Chinese policymakers must allow a hard landing to “cleanse” the economy, Bill Smead, CEO and Chief Investment Officer at Smead Capital Management told
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Sunshine Oilsands Secures US$350 Million Cornerstone Investments For Hong Kong
Fox Business
HONG KONG – Canada’s Sunshine Oilsands Ltd. has secured US$350 million from three cornerstone investors including a Chinese sovereign wealth fund for its up to US$700 million Hong Kong initial public offering, three people familiar with the situation
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US Bypasses Japan Base Dispute in Sending Marines to Guam
BusinessWeek
The US and the Philippines last month agreed to “deepen and broaden” maritime security cooperation as Philippine officials seek closer ties to deter China from operating in disputed waters in the South China Sea. “The US is shifting its projection of
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Soybeans, Corn, Wheat Futures Forecast to Open Higer on Supply Concerns
Bloomberg
What follows are opening calls for US grain and oilseed markets. — Soybean futures may open 5 cents to 7 cents a bushel higher on the Chicago Board of Trade on speculation that dry weather curbing production in Argentina and Brazil will prompt Chinese
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NY Stocks Bolstered by Prospect of Greek Deal: China Overnight
BusinessWeek
8 (Bloomberg) — Chinese equities traded in the US rose, led by Renren Inc. and China Unicom (Hong Kong) Ltd., as the prospect of a deal to secure Greece its second bailout bolstered the appeal of riskier, emerging-market assets. The Bloomberg ChinaUS
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Signs build that Iran sanctions disrupt food imports
Reuters
A senior executive of a US oil company said Saudi exports have risen by 200000 barrels a day, mostly to Asia, making up for most of the decline in China’s imports of Iranian oil. China has also been increasing its purchases from Russia and West Africa,
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China Auto Demand Robust Say Faurecia, Industry Analysts
Wall Street Journal
“We’re increasingly convinced that BMW is heading for a new record for earnings in 2012… assuming China growth continues, as the US market recovers and as currency moves in a favorable direction,” Bernstein’s Warburton added. “We are also increasingly
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Attack on Iran would be ‘suicidal’ for US: ambassador
National Post
“It’s easy for the United States to freeze our business,” he said. “It’s not worth taking the risk.” Some Chinese traders said they would keep buying the ore from Iran as long as they were able to get paid because it was cheaper than other sources of
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The New America
Investor’s Business Daily
Coach has been enjoying a nice run, thanks to ongoing strength in North America, growing demand for its men’s products and a booming business in China. Coach continues to grow and one reason is its popularity in China. This is a duty-free boutique in
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Obama May Find Some 2008 Words Fail Him in Re-Election Campaign
San Francisco Chronicle
8 (Bloomberg) — Candidate Barack Obama in 2008 bashed China as a currency manipulator and called the foreign purchase of an iconic American beer company a “shame.” Now, Obama is bound by the rhetorical constraints of the presidency.
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TEXT-S&P rates Kerry Properties’ US dollar MTN drawdown ‘BBB-‘
Reuters
(The following statement was released by the rating agency) Feb 08 – Standard & Poor’s Ratings Services today assigned its ‘BBB-‘ long-term issue rating and ‘cnA-‘ long-term Greater China credit scale rating to the proposed issue of five-year US-dollar
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Chile Peso Reaches Five-Month High as China Pledge Boosts Copper
Bloomberg
The Chilean peso rose to the strongest level in five months as copper rallied on a pledge by the Chinese central bank to support the housing market. The peso gained 0.4 percent to 476.80 per US dollar as of 10:12 am in Santiago.
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Coke, Yum Look To China For Growth
Fox Business
CHICAGO (MarketWatch) – Even as the US continues to run massive trade deficits with China, American soda and fast-food companies are doing their part to even the playing field while relying ever more on that vast market to generate growth.
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China Health Resource Announces Investor and Public Awareness Initiative
Sacramento Bee
We want to attract people, talent, investors and companies to join us in this major global alternative health care trend. For an aging global population, this is a must”. Traditional Chinese medicine (TCM) pharmaceutical products, along with synthetic
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US Auto Industry Jobs at Risk Due to Subsidized and Unfairly Traded Chinese
Jobmouse
The US lost more than 400000 direct jobs in auto parts between November 2000 and November 2011. The motor-vehicle manufacturing sector, specifically the auto-parts and tire manufacturing industry is at risk largely because the Chinese central and local
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Crushing losses stoke fears for China soy imports
Agrimoney.com
Deep losses among Chinese soybean crushers have raised concerns over the country’s purchases of soybeans even as hopes rose that, thanks to South America’s drought, the US was to poised for a spate of orders. China’s resolute recent pace of soybean
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Indian group, two US schools, to build plastics university
Plastics News
7, 2012) — India’s largest plastics trade association and two American universities with prominent plastics engineering and material science programs signed an agreement Feb. 3 to help build an international-level university for polymers in western
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Has China Stolen IP? | Wind Farms Technology
DesignBuild Source
In the latest developments, US wind energy company AMSC has filed three civil lawsuits in Chinese courts against the Chinese firm Sinovel Wind Group Co (Sinovel). AMSC says it is seeking $1.2 billion from Sinovel and related companies for contracted
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Thailand to host US-led military exercise
China Daily
By Hu Yinan (China Daily) BEIJING – The US-led annual multinational exercise Cobra Gold 2012, the largest such military endeavor in the Asia-Pacific to date, is due to start in Thailand on Tuesday. The 10-day exercise, which will involve around 13000
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Stabenow Shines Spotlight on Chinese Attempt to Force Michigan Business Owner
PoliticalNews.me (press release)
US Senator Debbie Stabenow joined with a Michigan business owner and the head of the Alliance for American Manufacturing to discuss new evidence that the Chinese are strong-arming Michigan businesses into handing over their intellectual property and
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China Car Service EHi Said to Hire Goldman, Barclays for IPO
BusinessWeek
8 (Bloomberg) — EHi Car Rental, a vehicle-sharing network in China part-owned by Goldman Sachs Group Inc., hired Deutsche Bank AG and Barclays Plc for its US initial public offering, said two people with knowledge of the plan.
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China leads wind power growth
Creamer Media’s Engineering News
The position of second-largest market for new wind turbines was again taken by the US. The country added 6.8 GW to its capacity, which now stands at 46 GW. However, WWEA said that the mid-term prospects for the US market were not promising,
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South Pasadena resident awarded Fullbright grant to travel to China
Pasadena Star-News
South Pasadena resident Ping Yao, a professor of history and director of the Asian and Asian American Studies Program at California State University, Los Angeles, has received a 2011-2012 Fullbright Scholar grant, which she will use to travel to China.
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Mortgage Accord, UBS, Gupta, Insider Trading: Compliance
BusinessWeek
Adondakis, 12-409, US District Court, Southern District of New York (Manhattan). A World Trade Organization probe into the legality of Chinese rules on foreign companies issuing credit cards is a “major reason” Citigroup Inc. was given permission to do
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McDonald’s US Jan sales strong, Europe slows
Reuters
By Lisa Baertlein (Reuters) – McDonald’s Corp reported a better-than-expected rise in January sales at established restaurants across the globe, as strength in the United States helped offset the slowing pace of sales gains in Europe.
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