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U.S. China News 2012.07.11

Wed, July 11, 2012

US trade deficit falls to $48.7 billion in May
USA TODAY
American companies sell more products in Europe and China, while cheaper oil lowers the amount spent on imports.
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US exports gain, despite Eurozone crisis and China slowdown
Los Angeles Times
WASHINGTON — The nation’s trade deficit narrowed for the second straight month in May as American exports eked out a 0.2% gain from April — despite the global economic slowdown and the strengthening of the U.S. dollar, the Commerce Department
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US trade deficit fell to $48.7 billion in May
Businessweek
WASHINGTON (AP) — The U.S. trade deficit narrowed in May from April, helped by cheaper oil that lowered imports and an increase in American exports to Europe and China.
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Oil prices rise ahead of Fed minutes, strong Chinese auto sales, surprising
Washington Post
NEW YORK — Hopes that the Federal Reserve will signal potential steps to boost a slowing economy have helped the price of oil rise more than 2 percent on Wednesday.
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US May trade deficit narrows on exports, cheaper oil
Reuters
WASHINGTON, July 11 (Reuters) – The U.S. trade deficit narrowed slightly in May as a rise in exports, including those bound for Europe and China, eased the pain of a slowdown in the broader economy, a government report showed on Wednesday. The gap
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Trade Gap in US Narrowed in May as Imports Decreased: Economy
Bloomberg
Slowing global growth, which led central banks from Europe to China to cut interest rates and announce more stimulus a week ago, may signal American companies will have a harder time boosting overseas sales. At the same time, an increase in imports of
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China’s Economy: ‘Stimulus Lite’ Seems to be Working
CNBC.com (blog)
In the West, China is seen amid a worsening slowdown. Economists do not see a return to the kind of massive RMB 4 trillion (US$630 billion) stimulus package launched in fall 2008. Yet, signs abound that the government is employing a “stimulus lite” policy.
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US trade gap shrinks as exports rise
msnbc.com
The U.S. trade deficit shrank in May, as exports to places like China and Europe rose, defying concerns about a global economic slowdown. The Commerce Department said Wednesday that the trade deficit fell 3.8 percent to $48.7 billion in May, down from
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Oil prices bounce back above $86
Los Angeles Times
China also reported strong auto sales for last month, and the U.S. said crude supplies declined last week by a much larger amount than what analysts expected. Benchmark U.S. crude rose by $2.05, or 2.4%, to $85.96 per barrel in New York. Brent crude
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Trade deficit narrows on exports, cheaper oil
Reuters
WASHINGTON (Reuters) – The trade deficit narrowed slightly in May as lower oil prices and a rise in exports, including those bound for Europe and China, eased the pain of a slowdown in the broader economy.The. Many economists think already anemic
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US Trade Deficit Narrows to $48.7B in May
Fox Business
U.S. exports to China rose 5.2 percent in May. China has been one of the fastest growing markets for U.S. goods, and exports to that country were up 6 percent for the first five months of 2012 from the year-ago period. Imports from China have been
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Ahead of the Bell: US Trade Deficit
Businessweek
During a campaign swing through Ohio last week, President Barack Obama announced that his administration was launching an unfair trade complaint against China with the World Trade Organization involving U.S. auto exports. The administration contends
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In historic visit, Clinton reaches out to Laos
Chicago Sun-Times
It is part of a larger Obama administration effort to reorient the direction of U.S. diplomacy and commercial policy as the world’s most populous continent becomes the center of the global economy over the next century. It is also a reaction to China’s
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US‘ Clinton weighs in on S China Sea issue ahead of ASEAN meeting
Platts
US‘ Clinton weighs in on S China Sea issue ahead of ASEAN meeting – read this Platts news article and other stories in oil by clicking here. Also discover Platts energy information products related to oil.
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US Trade Gap Narrows
Wall Street Journal
The trade gap with China is increasingly becoming an issue in the U.S. presidential campaign, with Republican challenger Mitt Romney pledging to declare Beijing a currency manipulator if he defeats President Barack Obama in November. Critics in both
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Chinese economic data highlight slowdown _ Q&A
U.S. News & World Report
BEIJING (AP) — China’s economic slump is its deepest since the 2008 global crisis and could hurt Chinese demand for imported oil, iron ore and industrial components. That could dent hopes abroad that a robust China will drive global sales at a time of
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US trade deficit lower in May; exports rise
MarketWatch
The sale of U.S. goods in China and the European Union increased in May even as their economies appear to have weakened. Exports of goods to China climbed by 5.2% to $8.9 billion and to the European Union by 2.6% to $22.9 billion, mainly because of
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Clinton makes historic visit to Laos as US looks to expand its influence in
Newser
Decades after the U.S. gave Laos a horrific distinction as the world’s most heavily bombed nation per person, Secretary of State Hillary Rodham Clinton pledged Wednesday to help get rid of millions of… – 7/11/2012 12:17:56 PM | Newser.
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Oil Rises as Crude Supplies Drop, Refinery Activity Gains
Businessweek
Passenger-vehicle sales exceeded analysts’ estimates for a fourth consecutive month after automakers increased shipments ahead of scheduled shutdowns for the summer. China is the world’s second-biggest crude-consuming country after the U.S.
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US Trade Deficit Falls in May Thanks to More Exports, Cheaper Oil
DailyFinance
The U.S. trade deficit fell 3.8% to $48.7 billion in May, helped by cheaper oil and an increase in American exports to Europe and China. But economists cautioned that decline wasn’t enough to alter weak growth forecasts for the quarter.
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US stock index futures point to higher start
Reuters
Commodities and oil, which have recently been hurt by weak data from the United States and China, regained their footing after sharp drops in the previous session. Brent crude rose 1 percent while U.S. crude added 1.1 percent. * Spot gold firmed after
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China Scooped Up Two US Defense Assets This Week
Business Insider
Nakashima reports that Huawei was looking to hire a person with deep connections to governments around the world to “counter perceptions that the China-based firm is trying to insert its technology into U.S. systems on behalf of Chinese intelligence
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Oil prices bounce back near $85
Businessweek
NEW YORK (AP) — The price of oil is climbing following reports of strong auto sales in China and a surprisingly large drop in U.S. crude supplies.
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U.S. trade deficit fell to $48.7 billion in May
Salt Lake Tribune
Washington • The U.S. trade deficit narrowed in May from April, helped by cheaper oil that lowered imports and an increase in American exports to Europe and China. But economists cautioned that the global economy has weakened since then. And they
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Can China Eclipse the US on Innovation?
Forbes
Is China the next hub for innovation? A recent survey of global executives from KPMG found that 45 percent of respondents, a plurality, named China the next technology innovation center in the world. The new Five Year Plan includes a mandate to shift
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Denny’s to open 50 restaurants in China
New York Daily News
American diner-style restaurant chain Denny’s has also announced plans to open 50 new locations in southern China over the next 15 years.
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Oil Gains From One-Week Low as US Crude Stockpiles Drop
Bloomberg
Oil rebounded from the lowest close in more than a week in New York on speculation declines may have been excessive amid shrinking stockpiles in the U.S., the world’s biggest crude consumer. China’s wholesale deliveries of passenger vehicles rose
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US futures head higher ahead of inventory data
Businessweek
higher, even as broad market indexes were mixed. The price of crude oil jumped $2, to $86 a barrel, after the government that U.S. crude supplies fell for a second week straight, a sign that demand for energy may be incr. China’s Deflationary
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Aussie hits high vs. euro, falls vs. U.S. dollar
MarketWatch
NEW YORK (MarketWatch) — The Australian dollar gave up gains against the U.S. currency, while the euro fell to a record low versus the aussie on Tuesday, caught between more reason for worries about Europe’s bailout and China’s disappointing trade
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Copper treads water; global growth worries weigh
Reuters
“Price induced producer cutbacks; a forecast seasonal commodity consumption recovery in Q4 and likely renewed monetary stimulus response in the US, Europe and China, are some of the factors that we believe will bolster commodity prices in the months
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Japan protests Chinese ships entry into waters near disputed isles
Reuters
PHNOM PENH (Reuters) – Japanese and Chinese foreign ministers sparred over rival claims to uninhabited islands in the East China Sea on Wednesday but appeared to try to steer clear of the acrimony that.
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ASEAN: Can US open door to Asia trade by softening stance on China?
Christian Science Monitor
Following the lead of its ASEAN partners, the US has replaced tough talk about China with calls for cooperation. At stake is a share of the booming trade supplying a rising consumer class in Southeast Asia.
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Narrower US Trade Gap Fails To Ignite Economic Growth Hope
International Business Times
The increased sale of American products in Europe and China, amid economic turmoil in both regions, does little to evoke hopes of economic growth in the U.S..
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China wants to censor online video content
U.S. News & World Report
BEIJING (AP) — China’s broadcasting and Internet regulators have told Internet video providers that they must prescreen all programs before making them available, tightening state censorship of increasingly popular online drama series and mini-movies.
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Your Roadmap For China
CNBC.com (blog)
Looking for a trading strategy amid a wave of Chinese economic data? You got it. LinksList Documentid: 31330905. Expiration DateTime: 7/11/2012 9:42:45 AM. US Wholesale Inventories Rose in May; Sales Decline; House Voting on Obamacare Repeal.
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China bids $1.8b for US plane maker
China Daily
Superior Aviation Beijing Co Ltd, a Beijing-based aerospace manufacturer, has executed an exclusivity agreement to acquire Hawker Beechcraft Inc.
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US Stocks Tumble Amid Signals Slow Growth Will Weigh on Earnings
Wall Street Journal
Industrial and materials stocks were the worst-performing sectors on the S&P 500, after truck-engine maker Cummins cut its full-year sales estimate below expectations, noting slowing demand in the U.S., as well as China, India and Brazil. Cummins
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China’s car sales rise 9 percent in June
U.S. News & World Report
BEIJING (AP) — China’s auto sales rose 9 percent in June despite a slowing economy as buyers rushed to beat possible limits on car registrations aimed at curbing traffic.
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Oil rises to $85 as US crude supplies drop
Businessweek
Oil rose to above $85 a barrel Wednesday after a report showed U.S. crude supplies fell for a second week, suggesting demand may be improving. “The Chinese data may well determine how the energy market finishes this week.” In other energy trading,
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Global stocks mixed as focus switches to US Fed
Fox News
With second-quarter corporate earnings beginning to trickle in amid low expectations, attention will focus on whether the U.S. Federal Reserve is likely to follow the European Central Bank and the People’s Bank of China in easing policy via another
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U.S. DOE Weekly Petroleum Status Report for July 6 (Text)
Bloomberg
Following is the text of the weekly Petroleum Status Report from the U.S. Department of Energy: U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.7 million barrels from the previous week. At
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Mitt Romney lays into ‘outsourcer-in-chief’ Barack Obama
New York Daily News
It’s also linked to an election-year clash over US trade policy and in particular Obama’s stance on China, which Romney’s campaign said has led to the president being “treated like a doormat” by Beijing. Last week, Obama’s campaign released an
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China Wants Sea Spat Off Asean Agenda as Clinton Urges Talks
Businessweek
China warned nations to avoid mentioning territorial disputes with the Philippines and Vietnam at a security meeting this week, rebuffing U.S. Secretary of State Hillary Clinton’s call for talks on the issue.
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China’s Mobile Game Developers Look for Best Markets
PCWorld
Although based in China and a maker of hit games, app developer Haypi has largely ignored its home market. Instead, the Chinese company’s forte is building games for U.S. and European users. “Our games don’t have Chinese characteristics, but instead
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Hollywood hunting for China pot of gold
Reuters
HONG KONG (Reuters) – A sharp rise in China’s box office revenues last year, thanks to the moneyed middle-class willing to pay top prices for a trip to the cinema, has brought Hollywood hunting for local.
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US trade gap narrows on exports, cheaper oil
National Post
The U.S. trade deficit narrowed slightly in May as a rise in exports, including those bound for Europe and China, eased the pain of a slowdown in the broader economy.
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