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U.S. China News 2012.06.08

Fri, June 8, 2012

ChinaUS Trade Tensions Rise as Renewable Energy Sags
Bloomberg
When solar-panel maker Solyndra LLC collapsed in September after winning a $535 million US loan guarantee, President Barack Obama’s administration blamed China’s even bigger aid for its renewable-energy industry. The China Development Bank Corp. in
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US Stock Futures Lower Ahead Of Data Expected From China
Wall Street Journal
By Barbara Kollmeyer US stock market futures traded lower on Friday, as investors turned jittery ahead of the weekend and data expected from China, and after Reserve Chairman Ben Bernanke didn’t give stronger hints about monetary stimulus a day prior.
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US trade deficit narrows as global demand slows
Reuters
0.6 percent in April By Doug Palmer WASHINGTON, June 8 (Reuters) – The US trade deficit narrowed in April as slower growth in Europe and China bit into exports and the soft US economy clipped import demand, a government report showed on Fri day.
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China, US Square Off in Philippines
Town Hall
Comment: The Philippine leaders are wrapping themselves in the American flag in their dispute with China over islands and seabed resources in the South China Sea. The problem is geography and China’s anti-secession law. Geography will not change and
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US to boost PH defense
Inquirer.net
By Daxim L. Lucas WASHINGTON—The United States pledged to help the Philippines step up its defenses in the face of a rising China, as President Benigno Aquino III and President Barack Obama prepared to meet at the White House amid Philippine warnings
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US futures head lower as China scrambles
BusinessWeek
US stock futures slipped Friday ahead of what many believe may be weaker-than-expected trade and industrial data from China over the weekend. China has worked feverishly to maintain its economic momentum with a series of measures over the past several
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Why China, US argue over PM2.5 data
People’s Daily Online
The top environmental official in Shanghai recently said that it is illegal for the US consulate in Shanghai to publish PM2.5 readings. China’s Vice Environmental Minister Wu Xiaoqing said Monday that PM2.5 data from certain foreign embassies and
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U.S. futures head lower as China scrambles
Chicago Sun-Times
(AP Photo/Richard Drew) NEW YORK — US stock futures slipped Friday ahead of what many believe may be weaker-than-expected trade and industrial data from China over the weekend. China has worked feverishly to maintain its economic momentum with a
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US STOCKS-S&P ends near flat; China rate cut offset by Bernanke
Reuters
The rate cut in China, the world’s No. 2 economy, helped lift the stocks of US companies linked to China’s commodity-hungry industrial complex. An S&P index of industrial shares gained 0.6 percent and an S&P materials index rose 0.2 percent.
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US STOCKS-Wall St climbs on China move; Bernanke limits rise
Reuters
China rate cut buoys market * Gains limited by Bernanke’s comments * Spanish auction successful, Fitch cuts rating * Dow up 0.6 pct, S&P up 0.3 pct, Nasdaq down 0.1 pct By Caroline Valetkevitch NEW YORK, June 7 (Reuters) – US stocks gained on Thursday
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Wary of China but leery of alliance, US and India go into third strategic dialogue
Times of India
If US officials are miffed about Indian reticence, they are not showing it. They also insist that their courtship of India, expressions of greater presence in Pacific, and efforts to involve India in East Asia are not aimed at containing China.
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Philippine leader seeks US assurance on defense as he visits the White House
Washington Post
WASHINGTON — The Philippine president is coming to the White House seeking assurance of US military help should the Southeast Asian ally face attack by rising power China over their conflicting maritime claims. That’s an awkward question for the US as
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GLOBAL MARKETS-Shares fall on unclear US policy stimulus, Europe
Reuters
* MSCI Asia ex-Japan falls 1 pct, Nikkei down 2 pct * China rate cuts precede May data this weekend * Uncertain US policy outlook weighs on oil, copper, euro * Safety bids support dollar By Chikako Mogi TOKYO, June 8 (Reuters) – Commodities from oil to
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Syria Could Unite Russia and China Against the US
Bloomberg
When that happens, Syria will present the US and Russia with choices that have implications far beyond the fate of a single Middle Eastern dictator, including stronger Russia-China cooperation to counter US foreign policies. It’s a defining aspect of
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US April trade deficit narrows as global demand slows
Reuters
US stocks were down as investors erred on the side of caution ahead of a weekend expected to bring new developments in Spain’s banking crisis, while Treasuries gained on a safe-haven bid. The dollar rose against the euro. EXPORTS TO CHINA ALSO LOWER US
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METALS-Copper falls on US stimulus uncertainty, China data worries
Reuters
No hint of more US stimulus weighs on markets * China cuts interest rates by 25 bps * Base metals fall on fear that rate cut presages bad data * Coming Up: US CFTC commitment of traders data; 1930 GMT (Updates prices; adds quotes, details) By Carrie Ho
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US Trade Gap Narrows
Wall Street Journal
Despite recent indications that the Chinese economy is cooling, Mr. Bernanke said Thursday he was less concerned about the impact of a slowdown in the world’s second-largest economy. In fact, slower Chinese growth could actually benefit the US by
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Stocks trading higher on wholesale report
USA TODAY
Investors initially were selling stock on continuing concerns about signs of slowing growth in the US and China. In mid-morning trading, the Dow Jones industrial average, the broader Standard & Poor’s 500 index and the Nasdaq composite index were all
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Euro, Aussie slip as Fed disappointment outweighs China surprise
Reuters
By Hideyuki Sano | TOKYO (Reuters) – The euro and commodity currencies dropped on Friday, having seen gains sparked by a surprise Chinese interest rate cut quickly evaporate after the US central bank offered no hint of imminent monetary stimulus.
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US rebalancing to Asia-Pacific not targeting China
Capital FM Kenya
WASHINGTON, Jun 8 – The US military rebalancing to the Asia-Pacific is not intended to contain China, the chairman of the US Joint Chiefs of Staff said on Thursday. Instead, the pivot is designed to deal with “strategic challenges of the future” that
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Trade Gap in US Narrows as Imports Drop More Than Exports
Bloomberg
Stagnation in Europe and cooling growth in China may restrain exports of American-made goods, which have been contributing to growth in the world’s largest economy. At the same time, domestic demand will help sustain the pace of imports, making further
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Fast footwork in tussle for new Asia-Pacific order
Sydney Morning Herald
DEFENCE Minister Stephen Smith was given a front-row seat this week to watch how the lines of geopolitics are being redrawn almost daily as China and the United States wrestle for dominance in the Asia-Pacific region. On Wednesday, Mr Smith told a
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U.S. Stocks Retreat Amid China Worries
NASDAQ
“Because of the Chinese interest-rate cuts, the markets are sniffing out upcoming softness in the Chinese data,” said Stephen Wood, chief market strategist at Russell Investments. The US trade deficit narrowed in April as imports fell at a faster pace
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China wins saw blades dispute against USA at WTO
Reuters
GENEVA, June 8 (Reuters) – China won a World Trade Organization ruling on Friday after the United States decided not to contest the facts of its complaint against US anti-dumping duties on shipments of diamond saw blades and frozen warm-water shrimp
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US trade deficit narrowed to $50.1 billion
BusinessWeek
The slip in exports is especially troublesome because it shows the weaker global economy is dampening demand for American-made goods. Export sales declined to Europe, China and Brazil. “With growth in Asia cooling, Europe in recession and the US dollar
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US stocks open higher following China rate cut
BusinessWeek
By PALLAVI GOGOI Stocks are opening sharply higher on Wall Street after China cut its benchmark lending rate in another bid to boost its slowing economy. The Dow Jones industrial average is up 131 points at 12545. The Standard & Poor’s 500 index is up
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US Bonds Boosted by Spain Downgrade, China Concerns
CNBC.com
Treasurys rose on Friday as a Spanish credit rating downgrade and growing expectation of weak Chinese economic data supported a revival in demand for safe-haven US debt. “We’re seeing better buying coming out of Asia and Europe this morning.
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NYMEX-US crude falls below $84 on Fed comments
Reuters
* Fed comments offset support from Chinese measures * US crude stocks fall for first time in 11 weeks * Fitch cuts Spain’s credit rating by 3 notches SINGAPORE, June 8 (Reuters) – US crude prices fell more than a $1 to below $84 a barrel on Friday,
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Trade Deficit in U.S. Narrows on Bigger Drop in Imports: Economy
San Francisco Chronicle
To combat a deepening slowdown as Europe’s debt crisis threatens global growth, China yesterday cut borrowing costs for the first time since 2008 and loosened controls on banks’ lending and deposit rates. The US trade deficit was projected to narrow
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More US waivers to Iran sanctions likely next week
Tehran Times
Around two thirds of Iran’s crude exports flow to Asia, where the biggest buyers are China, Japan, India and South Korea. The United States granted Japan an exception in March and has signaled it has had good talks with South Korea.
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TREASURIES-Bonds up as caution spurs safety bid
Reuters
* Caution ahead of expected Spanish bank bailout request * Concern China data due Saturday could be weak * German import/export drop raises euro zone contagion fear By Ellen Freilich NEW YORK, June 8 (Reuters) – US Treasuries prices extended the
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Copper falls on US stimulus uncertainty, China data worries
Reuters
Fed Chairman Ben Bernanke said on Thursday the US central bank was ready to shield the economy if financial troubles mount but offered few hints that further monetary stimulus was imminent. China delivered twin surprises on interest rates on Thursday,
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US strategy in Asia-Pacific not to contain China
Zee News
Washington: The US strategy and re-balancing of its forces in the Asia-Pacific region is not intended to contain China, a top Pentagon commander said on Thursday. General Martin Dempsey, the chairman of US Joint Chiefs of Staff, said that he has been
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Asian shares fall on unclear US policy stimulus, Europe
NDTV
US stock futures were down 0.6 per cent. China’s move to combat faltering growth in the world’s second-largest economy, the first such cut since the global financial crisis in late 2008, underlined heightened concerns about the threat to worldwide
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US stocks mixed on China rate cut, Bernanke comments
Xinhua
NEW YORK, June 7 (Xinhua) — US stocks closed mixed on Thursday as China unexpectedly cut benchmark interest rate, while the Federal Reserve Chairman Ben Bernanke’s comments dampened investors’hope of further easing policies. The Dow Jones Industrial
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US stock futures slip on global concerns
MarketWatch
By MarketWatch US stock futures fell on Friday, as investors lost enthusiasm over China’s interest-rate cut on worries of what the move indicted about the direction of the global economy. See full story. European stocks fall on Friday, as markets track
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Stocks fall as Fed chief disappoints on stimulus
U.S. News & World Report
By COLLEEN BARRY, AP MILAN (AP) — World stock markets dropped Friday after the US Federal Reserve chairman disappointed investors that there would no immediate action to jump start the world’s largest economy, wiping out any gains from China’s
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US stocks rise after China cuts benchmark rate
Economic Times
NEW YORK: US stocks got a boost on Thursday from China’s efforts to spur its economy. Highly anticipated testimony from Federal Reserve Chairman Ben Bernanke turned out to be a nonevent. The Dow Jones industrial average was up 115 points at 12529 just
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US rally fizzles as stimulus hopes fade
Sydney Morning Herald
US stocks ended mixed as optimism about China’s interest-rate cut was offset by Federal Reserve Chairman Ben Bernanke’s comments that dimmed hopes for more US stimulus. All three major indices ended off session highs, with the Dow rising modestly for
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U.S. stocks open lower as China scrambles
Detroit Free Press
US stocks are down in early trading on expectations for weak economic data in the US and China. Shortly after the opening bell, the Dow Jones industrial average is down 51 points at 12410. The Standard & Poor’s 500 index is down five points at 1310,
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China summit seen as counterpunch to US moves
msnbc.com
The meeting comes as China’s rising profile has raised questions about a possible power struggle between the US and Beijing, with the recent Asia tour of US Secretary of Defense Leon Panetta highlighting America’s effort to strengthen military
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Crude ends down, extends losses post-settlement
Reuters
NEW YORK (Reuters) – US crude futures fell on Thursday as comments from US Federal Reserve Chairman Ben Bernanke diminished expectations for additional economic stimulus and countered the supportive interest rate cut unexpectedly announced by China.
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