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U.S. China News 2012.07.16

Mon, July 16, 2012

Is Team USA Representing the United States or China? Fan Perspective
Yahoo! Sports
From Yahoo! Sports: On July 27, 2012, Team USA will take part in the 2012 Olympic opening ceremonies in their team uniform created by designer Ralph Lauren. However, these uniforms are sparking controversy because they were made overseas. Not one
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WTO: China Discriminates Against US Credit Cards
Wall Street Journal
A World Trade Organization panel has determined that China’s tight control over credit- and debit-card transactions discriminates against U.S. card companies, a decision the card issuers hope will lead to new business opportunities in China’s fast
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‘Made in China‘ Olympic Uniforms are a Win for the US
Businessweek
Virtually every politician – Republican and Democrat – is up in arms about how the U.S. Olympic Committee allowed Ralph Lauren to outsource the production of the U.S. team’s opening ceremony uniforms to China. But they’ve all lost track of some basic
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US wins trade dispute with China over $1 trillion electronic payments market
Washington Post
WASHINGTON — The United States has won a trade dispute with China over that country’s treatment of foreign companies that process credit card payments and other electronic transactions.
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China calls US ‘hypocritical’ for Olympic team uniform controversy
Fox News
China’s official news agency has blasted U.S. lawmakers for complaining that the uniforms American athletes will wear at the London Olympics were manufactured in China.
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US wins dispute with China over payment services
Huffington Post
U.S. officials said Monday that the ruling by the Geneva-based World Trade Organization could allow American companies to enter China’s $1 trillion electronic payments market. The WTO adjudicates trade disputes among its members. Under WTO rules
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Team USA, made in China?
Philadelphia Inquirer
WHAT WERE they thinking? Is the U.S. Olympic Committee, and conspirator Ralph Lauren, so clueless of American consciousness that they didn’t know producing USOC-authorized gear in China would be a gut-punch to most Americans?
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China commentary says US uniform row Olympic “blasphemy”
Reuters
BEIJING (Reuters) – An uproar over the U.S. Olympic team’s made-in-China uniforms is a blasphemy on the Olympic spirit which is supposed to separate sports from politics and a show of pure ignorance to.
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US wins case with China over electronic payment services
The Hill (blog)
U.S. Trade Representative Ron Kirk announced that World Trade Organization (WTO) ruled in favor of the United States in every aspect of the case, which trade officials say discriminates against U.S. companies trying to do business in China. “The WTO
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Olympics-China commentary says US uniform row Olympic “blasphemy”
Reuters
BEIJING, July 16 (Reuters) – An uproar over the U.S. Olympicteam’s made-in-China uniforms is a blasphemy on the Olympicspirit which is supposed to separate sports from politics and ashow of pure ignorance.
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WTO finds China bank card monopoly breaks WTO rules
Reuters
Ruling says China discriminates against foreign bank cards* Panel says China UnionPay is monopoly, breaks WTO rules* USTR says US prevailed but lost on some minor points* Ruling is open to appealBy.
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WTO to rule on US payment card dispute with China
Reuters
GENEVA, July 16 (Reuters) – The World Trade Organizationwill publish a ruling on Monday in a dispute launched by theUnited States in 2010 over market access for credit cards anddebit cards in China,
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WTO finds China bank card monopoly breaks rules
Reuters
GENEVA/WASHINGTON (Reuters) – China discriminates against foreign bank card suppliers by maintaining state-owned China UnionPay as the monopoly supplier for clearing certain transactions, a World Trade.
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LME copper dips; US, China stimulus eyed
Reuters
LONDON (Reuters) – Copper slipped on Monday, pressured by weak U.S. retail sales, worries over Europe’s crisis and by investor concerns over whether a presentation by the U.S. Federal Reserve chairman.
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METALS-LME copper dips; US, China stimulus eyed
Reuters
Euro eases vs dollar; poor U.S. retail sales hits dollar * China pledges efforts to stabilise economy in H2 * Markets await US Fed chairman testimony on Tuesday By Maytaal Angel and Harpreet.
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WTO: China Discriminating Against US Credit Card Companies
Voice of America (blog)
The World Trade Organization has concluded that China is discriminating against U.S. credit card companies by denying them full access to the Chinese market. The WTO Monday sided with U.S. claims that a Chinese company, China UnionPay,
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China: Team USA uniform brouhaha “blasphemy on the Olympic spirit”
GlobalPost (blog)
China’s Xinhua today issued a smackdown response to the controversy caused by team USA’s made-in-China Olympic uniforms, reported Reuters.
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IMF: European financial crisis, US budget crisis worsens global economic outlook
Washington Post
WASHINGTON — The global economy will grow more slowly over the next two years, according to the International Monetary Fund’s latest forecast.
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China discriminates against US card firms: WTO
MarketWatch
WASHINGTON–A World Trade Organization panel has determined that China discriminates against U.S. credit card companies, handing the Obama administration another key trade victory heading into the fall presidential elections.
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US says prevailed in electronics payments case versus China
Reuters
WASHINGTON (Reuters) – The World Trade Organization on Monday ruled in favor of the United States in a case challenging China UnionPay’s virtual monopoly on China’s electronic payments market, the U.S..
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US Stocks Head Lower
Wall Street Journal
NEW YORK—Swooning industrials and materials shares, seen as tied to global economic growth, led U.S. stocks lower after U.S. retail sales unexpectedly fell and China’s premier warned that a rebound in the country’s economic growth hasn’t yet taken hold.
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Stocks subdued after US retail sales disappointment, but euro recovers from 2
Washington Post
LONDON — A disappointing U.S. retail sales report weighed on stock markets Monday but helped the euro clamber off two-year lows against the dollar.
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Ralph Lauren plans to produce future Olympic uniforms in US
CBS News
Designer responds after uproar over Team USA’s uniforms being manufactured in China; China’s news agency also responds.
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China Cries ‘Hypocrisy’ In US Olympic Uniform Row
Fox Business
Chinese state media responded angrily Monday to American lawmakers who last week expressed outrage that the U.S. Olympic Team’s uniforms for the London Games were made in China.
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China says WTO rejects US claims in bank card ruling
Reuters
GENEVA (Reuters) – A World Trade Organization dispute panel has rejected U.S. claims about the monopoly status of electronic payment services firm China UnionPay and the claim that China has committed.
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China Calls US Outrage Over Olympic Uniforms ‘Hypocritical’
NewsMax.com
China’s official news agency is calling outrage over U.S. Olympic uniforms made in China hypocritical and irresponsible.
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Oil higher on stimulus hopes, Iran tensions
Reuters
NEW YORK (Reuters) – Oil prices rose on Monday, lifted by hopes that signs of economic slowing will prompt stimulus measures, especially in China, and by news a U.S. Navy vessel near the United Arab Emirates.
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European Markets Finished Mixed On Chinese Concerns & Weak U.S. Data
NASDAQ
NASDAQ News: European Markets Finished Mixed On Chinese Concerns & Weak U.S. Data.
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The US Olympic team’s outfits don’t bother me but the advertising does
MLive.com (blog)
The man at the store nudged me and said, “So I’ll bet you’re steamed about the U.S. Olympic team wearing clothes made in China, huh?”
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US company reportedly in talks to make Russia’s Olympic uniforms
Fox News
Ralph Lauren — which got tripped up last week on reports that it was making uniforms for this year’s US Olympic team in China — said in a face-saving gesture Friday that it will produce Made-in-the-USA uniforms for the winter games in 2014. But
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US futures sag on unsettling news from China
Sacramento Bee
Futures are heading lower as the U.S. earnings season gets underway in earnest, with Citigroup posting net income of nearly $3 billion.
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China accuses the US of Olympic hypocrisy
BBC News
The US Olympic team’s “made in China” uniforms have triggered an economic debate that goes beyond blazers and berets, writes the BBC’s Damian Grammaticas.
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US Stock Futures Dip On Sluggish Retail Sales Data, Macro Concerns
Wall Street Journal
NEW YORK–U.S. stock futures edged lower after June retail sales unexpectedly fell, adding to worries about China’s economy and the consequences of the Spanish bank bailout. Less than an hour before the opening bell, Dow Jones Industrial Average
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China adoption diary: Madeleine becomes a US citizen in minutes
Christian Science Monitor
Part 13 – China adoption diary: Her parents raise their right hands, take an oath for her and Madeliene becomes a US citizen. Now thoughts can turn realistically homeward.
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Today’s Buzz: Should U.S. burn Chinese-made Olympic uniforms?
Orlando Sentinel
Should U.S. burn Chinese-made Olympic uniforms? Vote and talk about it on Today’s Buzz at OrlandoSentinel.com.
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China’s ‘slump’: Even its bad numbers look good to the US
Pittsburgh Post Gazette
China’s slackening economy has implications for the rest of the world, including the United States. Its second-quarter gross domestic product growth slowed to 7.6 percent, compared to second-quarter 2011 growth of 9.5 percent and average annual growth
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China Cries ‘Hypocrisy’ In U.S. Olympic Uniform Row
NASDAQ
NASDAQ News: China Cries ‘Hypocrisy’ In U.S. Olympic Uniform Row.
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IMF predicts slower economic growth for world, US
Fox News
The IMF also expects growth will slow in several large developing countries, mostly because they will export less to Europe and the United States. China’s economy will likely expand 8 percent this year, down from April’s 8.2 percent forecast. India’s
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US Olympic Uniforms Made in China — Romney Remains Silent but Congress
Gather.com
Congress is outraged that Ralph Lauren Olympic uniforms were made in China. Harry Reid said the Olympic Committee should be embarrassed and should…
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Why NOT make Olympic uniforms in China?
KETK
Indeed, with 86% of the American public disapproving of Congress’ performance, refuge-seeking politicians have wrapped themselves in the flag to denounce the fact that the U.S. Olympic team’s uniforms were manufactured in China. Senate Majority Leader
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Markets down ahead of US earns; euro hits 2-yr low
MiamiHerald.com
Financial markets were subdued Monday ahead of a raft of U.S. corporate earnings statements that should shed more light on the state of the U.S. economic recovery, while the euro fell to a fresh two-year low against the dollar amid ongoing concerns
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Mitt Romney On Outsourcing Of US Olympic Uniform: These ‘Matters Are
Huffington Post
In spite of all the outrage provoked by Ralph Lauren’s outsourcing of the manufacturing of the U.S. Olympic uniform to China, and in spite of lawmakers from both sides of the aisle criticizing the American clothing company for sending work overseas,
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It’s not looking good for global growth, even in China, says IMF
Los Angeles Times
The international economy will grow even more slowly than previously expected as flagging momentum in the U.S., a fiscal crisis in Europe and tumbling demand in China and India keep the recovery lethargic, according to the International Monetary Fund.
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China blasts ‘hypocritical’ American stance on Team USA uniform brouhaha
Alaska Dispatch
Alaska Dispatch offers the latest news Alaska news, politics, opinion, culture, current events, and happenings around the world.
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Afternoon Coffee: Olympic Uniforms Made in China (Again), Foie Gras (Against
Spend Matters
But U.S. lawmakers have a much bigger problem with the uniforms: every single item of clothing was made in China. “I think they should take all the uniforms, put them in a big pile and burn them and start all over again,” Senate Majority Leader Harry
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GLOBAL MARKETS-US retail sales hurt stocks; euro falls broadly
Reuters
Central banks from Europe, China and Brazil earlier this month cut interest rates to bolster fragile growth, underscoring growing worries about a slowing global economy. But analysts said Bernanke is likely to remain non-committal. “While this morning
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