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U.S. China News 2012.07.17

Wed, July 18, 2012

China, U.S. Agree World Climate Efforts Not Enough to Meet Goals
Bloomberg
China and the U.S. agreed that greater climate-protection efforts are needed before a binding global treaty comes into force in 2020, joining nations at a meeting in Germany to acknowledge current pledges fall short.
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Vote: Should US Olympic Team Trash its in Made-in-China Uniforms?
Wall Street Journal
Get the latest Journal coverage of the 2012 Games right here – every story, video, photo or tweet related to the competition and all news off the field.
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US, China stimulus hopes give markets a lift
Boston Herald
LONDON — Global markets rose Tuesday on hopes that the United States and China might take new steps to combat a downturn in economic growth. Confidence in the world economy has been shaken in recent weeks as the three largest economies — the
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Yuan Advances Most in a Week on China, US Stimulus Speculation
Businessweek
China’s yuan advanced the most in a week on speculation the world’s two biggest economies will be more aggressive in stimulating growth after the International Monetary Fund trimmed its global forecast.
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China hopes ZTE will be treated fairly in US probe
Reuters
BEIJING (Reuters) – China’s Ministry of Commerce said on Tuesday it hoped telecom equipment maker ZTE Corp <0763.HK>, subject of an FBI probe into the sale of banned U.S. computer equipment to Iran,
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No, fear of China isn’t what’s driving US policy in Asia
CNN (blog)
Editor’s note: Brad Glosserman is executive director of Pacific Forum CSIS, a Honolulu-based think tank. The views expressed are solely those of the author. Frequently dismissed as a talk shop, the ASEAN Regional Forum (ARF) is in fact one of the key
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Visa May Be Helped by WTO Ruling on China
Businessweek
Visa Inc. (V), MasterCard Inc. (MA) and American Express Co. (AXP) were among companies to win partial support from World Trade Organization judges in a U.S. claim that China unfairly restrains the payment processors.
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Russian Olympians Will Wear Uniforms Made By American Brand
Forbes
Ralph Lauren American Olympians will wear Chinese made Uniforms in 2012. Russian Olympians will wear American made Uniforms in 2014. The recent announcement that the Russian team will march into the 2014 Winter Olympics stadium in Sochi,
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Phone Maker ZTE Eyes US as Lawmakers Worry
Businessweek
Any U.S. investigation could be especially risky for ZTE because the company has great hopes to expand in the American market. ZTE is already the world’s fourth-largest maker of cell phones, thanks largely to its strong position in China and other
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Russia, China under pressure to accept US-backed Syrian sanctions
The Hill (blog)
Russia and China are both hosting high-level United Nations envoys on Tuesday as the world body prepares for another showdown on U. S..
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WTO Bank Card Case Against China is a Victory for U.S. Jobs. Wait, What?
Business Insider
The World Trade Organization issued a panel ruling yesterday on the dispute between the U.S. and China over bank card services (usually referred to as “electronic payment services,” so let’s go with EPS in this post). The case is technical and complex
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Team USA’s Chinese-Made Uniforms are “Grown in the USA
Forbes
Senator Harry Reid is upset that the US Olympic team is wearing Chinese-made uniforms for the Opening Ceremony. Senator Reid has suggested the uniforms be piled up and burned. Senator Nancy Pelosi wasn’t as strident, but she agreed that the uniforms
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Why the China Bashing Will Continue
Business Insider
Everyone takes it for granted that the American voter is swayed by tough populist talk against Ch…
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Oil hovers above $88 a barrel in Europe on hopes for China, US stimulus
Minneapolis Star Tribune
Oil hovered above $88 a barrel Tuesday amid hopes China and the U.
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Growing need for stronger ChinaUS ties
China Daily
There is a growing need for China and the United States to help more Chinese companies invest in the US so as to help the world economy recover.
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Olympic Uniforms: American Apparel Offers To Make New Batch In US
Huffington Post
The Olympic uniforms for London 2012 have been stirring up controversy, partially because of the silly beret but mainly because the Ralph Lauren pieces were manufactured in China. First pundits got their two cents in, then American fashion designers
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US machinists union opposes Hawker’s China sale
Reuters
(Reuters) – The machinists’ union said on Monday it filed papers in U.S. Bankruptcy Court challenging efforts by bankrupt jet maker Hawker Beechcraft to sell itself to a Chinese company, alleging the move.
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U.S., China stimulus hopes give markets a lift
Indianapolis Star
LONDON — Global markets rose Tuesday on hopes that the United States and China might take new steps to combat a downturn in economic growth.
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Chinese Officials Call American Politicians ‘Hypocritical’ over Olympic Uniforms
Atlanta Black Star
While the Ralph Lauren company promises to produce future U.S. Olympic uniforms in the United States after the company got attacked by U.S. politicians for.
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ChinaUS Visa Requests at Record Levels
China Digital Times
President Barack Obama’s initiative to boost international tourism has pushed the US government to process a record 1 million visa applications from China so far during fiscal 2012. […] The US federal government’s fiscal year begins Oct 1 and ends
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Asian Markets Shrug Off US Slide
Wall Street Journal
“There is still this sniff of monetary easing in the air in China and the U.S. that is keeping the markets going,” said Justin Harper, market strategist at IG Markets in Singapore. Mr. Bernanke’s testimony, expected later Tuesday, will be scrutinized
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Letters: Team USA’s Olympic garb
Los Angeles Times
You can’t blame Ralph Lauren or any of its competitors for having their garments made in China. It’s the U.S. government that needs to step up and offer attractive incentives to American designers and businesses to produce their products domestically.
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Joel D. Joseph: How we can forcing making U.S. Olympic uniforms in U.S.
The Providence Journal (blog)
ABC News broke the story recently that the U.S. Olympic team’s uniforms for the 2012 London Olympic Games were made in China. Senate Majority Leader Harry Reid and Speaker John Boehner were quick to pounce. “I am so upset. I think the Olympic
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“ASEAN Way” founders in South China Sea storm
Reuters
MANILA/KUALA LUMPUR (Reuters) – As Philippine Foreign Minister Albert del Rosario began to raise the sensitive issue of the South China Sea at one of last week’s Asian summit meetings, his microphone went.
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Asian stocks rise on Chinese, US stimulus hopes
Business Spectator
Markets await Bernanke appearance before US congress.
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China Still Largest Foreign Holder of U.S. Treasurys
NASDAQ
NASDAQ News: China Still Largest Foreign Holder of U.S. Treasurys.
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Team USA to Wear ‘Made in China‘ Uniforms to Olympics
Tripped Media
The patriotic beret-and-blazer ensembles, which Team USA will wear marching into London’s Olympic Stadium were designed in America and manufactured in China.
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Brazil Stocks Close Sharply Lower on Concerns in China, US
Wall Street Journal
RIO DE JANEIRO–Brazilian shares closed sharply lower Monday, tracking markets in China and the U.S. after retail sales in the U.S. disappointed and fresh concerns over Chinese economic growth surfaced. Brazil’s benchmark Ibovespa stocks index closed
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China’s New Oriental Tumbles Most on Record on SEC Investigation
Bloomberg
The American depositary receipts of New Oriental lost 27 percent to $16.22 by 12:05 p.m. in New York, poised for the biggest drop since the company’s initial public offering in 2006. The shares led declines in the Bloomberg ChinaUS Equity Index
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Asian stocks rise despite US declines
The Associated Press
It cut growth forecasts for China, India and Brazil. Worries about the U.S. economy have dominated markets, alongside Europe’s debt crisis and China’s cooling growth. Investors are waiting for testimony Tuesday by Federal Reserve Chairman Ben Bernanke
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Oil hovers above $88 a barrel in Asia on hopes for China, US stimulus
Newser
Oil hovered above $88 a barrel Tuesday in Asia amid hopes China and the U.S. will take new steps to bolster their economies. Benchmark crude was up 2 cents at $88.45 a barrel at late afternoon Bangkok… – 7/17/2012 3:27:00 AM | Newser.
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US Wins Victory in WTO Case on China Bank Card Monopoly
Fox Business
Washington scored a major victory in a dispute against China on Monday when a WTO ruling found the country had discriminated against U.S. bank card suppliers in favor of a state-owned enterprise.
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Europe, US woes slowing growth, IMF warns
Boston Globe
The crisis in Europe and a sluggish US recovery have begun sapping growth across the rest of the world as China, India, and other major developing countries join in an evolving global slowdown. In its latest world economic projections, the
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American McGee’s Spicy Horse launches real-time, cross-platform title Crazy
VentureBeat
American McGee moved from the U.S. to China six years ago and set up a Western game studio making cool triple-A games. Now his Spicy Horse Games is launching a title called Crazy Fairies that has some unique characteristics as a cross-platform,
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U.N. Security Council to vote on a Syria resolution on Wednesday
Chicago Tribune
UNITED NATIONS (Reuters) – The U.N. Security Council will vote on Wednesday on a Western-backed resolution that threatens Syrian authorities with sanctions if they do not stop using heavy weapons.
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[POLL] Should U.S. Olympic Uniforms Be ‘Made in the U.S.A.‘?
Patch.com
Clothing designer Ralph Lauren had uniforms for the Opening Ceremonies manufactured in China; Rep. James Langevin co-authored letter to the U.S. Olympic Committee arguing for domestic manufacture.
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Asian stocks rise despite US declines
San Francisco Chronicle
Street after weaker-than-expected June retail sales and the International Monetary Fund’s decision to reduce its global growth forecast. Worries about the U.S. economy have dominated markets, alongside Europe’s debt crisis and China’s cooling growth.
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