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U.S. China News 2012.07.19

Fri, July 20, 2012

METALS-Copper edges up, cheered by China, US housing data
Reuters
Copper up on hopes of China easing this weekend – traders * China house prices up in June, shows policy traction * Coming up: European Central Bank governing council meeting (Updates prices; adds quotes, detail) By Carrie Ho SHANGHAI, July 19
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Chinese-born American convicted of stealing Motorola trade secrets faces
Washington Post
CHICAGO — An American software developer caught with more than 1000 confidential Motorola Inc. documents before boarding a flight on a one-way ticket from Chicago to her native China five years ago is due to be sentenced Thursday for trade secrets
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Asian Stocks Head for Biggest Gain Since June on China, U.S.
San Francisco Chronicle
July 19 (Bloomberg) — Asian stocks rose, with the benchmark index headed toward its biggest gain in almost three weeks, amid speculation China will do more to boost growth and after U.S. housing starts jumped to the highest in four years. The Hang Seng
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Hollywood joins chorus demanding Team USA uniforms be made in USA
Fox News
LOS ANGELES – When it was revealed last week that the Ralph Lauren designed U.S. Olympic uniforms for the London Games were manufactured in China, political leaders on both sides of the aisle expressed their displeasure. Senate Majority Leader
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Washington’s Jingoist Reaction to Olympic Uniforms Scandal Fails to Address
Huffington Post
The torrent of patriotic indignity continued to stream from Capitol Hill this week over the revelation that the American Olympic team’s uniforms, which were designed by American Ralph Lauren, were produced in China. Democratic Lawmakers in Congress on
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China’s online population rises to 538 million
U.S. News & World Report
BEIJING (AP) — China’s population of Internet users, already the world’s biggest, has risen to 538 million, driven by rapid growth in wireless Web surfing, an industry group said Thursday. The latest figure represents an 11 percent increase from a year earlier,
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The Record: The China syndrome
NorthJersey.com
CALL IT the bonfire of the banalities, the smoke-spewing indignation from members of Congress upon hearing that the U.S. Olympic team would be sporting ceremonial uniforms made in China. The loss of American manufacturing jobs is something to lament,
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News Summary: China-born American convicted of stealing Motorola trade secrets
Washington Post
SPY CAUGHT: An American software developer caught with more than 1000 confidential Motorola Inc. documents before boarding a flight from Chicago to her native China five years ago is due to be sentenced for trade secrets theft. MILITARY THREAT?
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Copper gains on China hopes, tracks equities
Reuters
LONDON (Reuters) – Copper hit a two-week high on Thursday, bolstered by expectations that China could announce further monetary easing measures in the second half and by strong corporate earnings which led global equity markets higher, boosting
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Carney: Russia, China on ‘wrong side of history’
U.S. News & World Report
By KEN THOMAS, Associated Press. ABOARD AIR FORCE ONE (AP) — A frustrated White House declared that Russia and China placed themselves on the “‘wrong side of history” and the “wrong side of the Syrian people” Thursday by vetoing a U.N.
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Annan urged delay, now hopes UN will act on Syria
U.S. News & World Report
UNITED NATIONS (AP) — Russia and China again vetoed a Western-backed U.N. resolution Thursday aimed at pressuring President Bashar Assad’s government to end the escalating 16-month conflict in Syria. The 11-2 vote, with two Follow U.S. News
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Russia, China again veto Syria resolution
USA TODAY
Comments. UNITED NATIONS (AP) – Russia and China again vetoed a Western-backed U.N. resolution Thursday aimed at pressuring President Bashar Assad’s government to end the escalating 16-month conflict in Syria. Russian President Vladimir Putin,
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Russia, China veto UN sanctions resolution on Syria
Washington Post
UNITED NATIONS –Russia and China on Thursday vetoed a U.S.-backed United Nations Security Council resolution threatening the Syrian government with sanctions, upending four months of diplomacy aimed at stemming a crisis that has left more than
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Russia, China veto UN Security Council resolution on Syria
Reuters
UNITED NATIONS (Reuters) – Russia and China vetoed a U.N. Security Council resolution on Thursday that threatened Syrian authorities with sanctions if they did not halt violence against an uprising, thwarting Western hopes for tough action as the crisis in
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China-Made US Olympic Uniforms Spark Controversy
Voice of America
In the U.S. Congress, more outrage over the U.S. Olympic team wearing uniforms manufactured in China. Some lawmakers directed their anger this week at the proposed Trans-Pacific Partnership free trade agreement that could lower tariffs on footwear
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US Automakers See Their Cars Zip in China
The Atlantic
Crowds swarmed the Beijing Auto Show in April but they thronged thickest around foreign-made cars, illustrating the challenge ahead for domestic Chinese manufacturers in the world’s biggest car market. china_domestic_cars_large.jpg. About 20 million new
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Yum’s profit disappoints, hurt by China costs
Chicago Tribune
Louisville, Kentucky-based Yum is the biggest Western restaurant operator in China, with more than 3900 KFC shops and almost 700 Pizza Hut restaurants, and is widely viewed as a way for U.S. investors to bet on that country. “The earnings miss is because
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China offers Africa $20 billion in loans
Chicago Tribune
BEIJING (Reuters) – Chinese President Hu Jintao on Thursday offered $20 billion in loans to African countries over the next three years, boosting a relationship that has been criticized by the West and given Beijing growing access to the resource-rich
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Copper edges up, cheered by China, US housing data
Economic Times
SHANGHAI: Copper rose on Thursday after stronger housing data from the United States and China eased concerns about the impact on demand for industrial metals from a slowdown in the global economy. Prices were also propped up by signs that China
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METALS-Copper steady after positive US, China housing data
Reuters
SHANGHAI, July 19 (Reuters) – Copper held steady on Thursday after better-than-expected housing data from the United States and China, eased concerns over the impact on demand from a slowdown in the global economy. But investors are expected to
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US condemns China, Russia for Syria UN vetos
AFP
WASHINGTON — The United States condemned Thursday the “highly regrettable decision” of China and Russia to veto a UN Security Council resolution threatening sanctions against Syrian President Bashar al-Assad. It is a “mistake to prop up that regime,”
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Hey, Ralph Lauren, sweatshops aren’t chic
Los Angeles Times
If China’s workers were sharing in the full fruits of growth, we would have a much smaller volume of American clothing made there. As it is, more than 98% of the dollar value of the Ralph Lauren clothing line is made abroad, much of it in China. Without more
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Between Giants: South Korea and the USChina Rivalry
The Atlantic
But nor is the country apparently eager to participate in what many South Koreans see as a U.S. effort to contain China, whose rise has so far benefited their country in many ways. South Korean views are after all shaped by history: not only by the Japanese
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SE Asia seeks common ground on South China Sea spat
Reuters
U.S. Secretary of State Hillary Clinton attended last week’s summit and called on all parties, including China, to make clear exactly what their claims were in the South China Sea and open multilateral talks, something likely to rile Beijing, the resident
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Letters: U.S. Olympic uniforms and China
Newsday
I bought a shirt, a hat and a travel coffee mug. The shirt was made in Sri Lanka, the hat in Cambodia, and the mug, long since broken, I believe was made in China. All were sold on a U.S. Navy ship. Why not start there before telling the private sector what to
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Russia, China veto US-backed Syria resolution for a third time
The Hill (blog)
Russia and China on Thursday vetoed a United Nations resolution calling for sanctions against the government of Syrian President Bashar Assad. It’s the third time the two countries have vetoed sanctions against Assad’s regime since the revolt against his
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METALS-Copper gains on China hopes, tracks equities
Reuters
China house prices up in June, shows policy traction * U.S. existing home sales falls in June, jobless claims rise (Adds closing prices) By Eric Onstad and Maytaal Angel LONDON, July 19 (Reuters) – Copper hit a two-week high on Thursday, bolstered by
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Internet usage in China surges 11%
USA TODAY
China is already the world’s largest Internet market, and — driven by increased smartphones sales — that vast ocean of Web users has grown 11% year-over-year to reach 538 million, according to a report from the China Internet Network Information Center
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Asian Currencies Strengthen on US, China Stimulus Speculation
Businessweek
Asian currencies advanced on speculation policy makers from the U.S. to China will increase economic stimulus measures to support growth, spurring demand for the region’s exports and financial assets. Malaysia’s ringgit reached a two-week high and South
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Copper gains 1 percent, lifted by housing data, dollar
Reuters
LONDON (Reuters) – Copper climbed more than 1 percent on Thursday, headed for a third day of gains, on a weaker dollar and after stronger housing data from the United States and China bolstered sentiment about demand for industrial metals.
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China shows no support for UN Syria vote, condemns rebel bombing
Christian Science Monitor
U.S. and European powers over-interpreted a U.N. resolution to attack the government of Moammar Gadhafi, not just protect Libyan civilians. The state-run Global Times newspaper’s Chinese edition said in an editorial Thursday that Beijing should continue
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Doritos taco eases Yum’s China heartburn
msnbc.com
“The U.S. (business) is much better this year. China has softened a little bit from pretty torrid rates. But that’s the beauty of a portfolio.” Taco Bell had double-digit growth in sales at U.S. restaurants open at least a year, which the company attributed to strong
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Hermes, Remy Cointreau dampen fears of waning Chinese demand
Reuters
PARIS (Reuters) – The Chinese are still snapping up Birkin bags and rare Cognacs, boosting sales for European luxury goods companies Hermes and Remy Cointreau and calming fears that demand may be cooling. Luxury goods companies have become
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Sentencing delayed for Chinese engineer who stole Motorola secrets
Chicago Tribune
U.S. District Judge Ruben Castillo in February found Hanjuan Jin guilty of taking more than 1000 confidential documents from the Motorola office where she worked. She was stopped during a random security search at O’Hare International Airport in 2007.
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China Weighs On Yum’s Earnings But U.S. Profits Surged
Forbes
Most investors look at Yum as a proxy for domestic demand in China, but the company also has important operations in other geographies . In the U.S., revenues slid 7% to $818 million but operating profit surged 26% to $166 million. Same store sales were
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Turtle Bay: Russia, China veto third Security Council Syria resolution
Foreign Policy (blog)
Today, Russia and China vetoed a U.S.-backed resolution threatening the Syrian government with sanctions, upending four months of U.N. diplomacy aimed at stemming a crisis that has left more than 15000 dead and brought the country to the brink of a
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Fighting Continues in Syrian Capital
Voice of America
Russia and China on Thursday vetoed a U.S.-backed U.N. Security Council resolution that would have imposed non-military sanctions on the Syrian government, putting the future of diplomacy in limbo as fighting continues in Syria. The vote came a day after
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EU court ruling offers improved China trade ties
Reuters
BRUSSELS (Reuters) – The highest EU court has cleared a Chinese chemicals company of accusations that Beijing was controlling its trade with Europe, in a victory for private Chinese firms who say they are unfairly labeled as subsidized agents of the
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China 3C Group Becomes Authorized Retailer for US Brand Moshi
MarketWatch (press release)
HANGZHOU, China, July 19, 2012 /PRNewswire via COMTEX/ — China 3C Group (“China 3C”, or “the Company”) (OBB:CHCG) , announced today that it has been appointed as an authorized retailer for Moshi Electronics Trading (Shanghai) Co., Ltd.,
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Copper Rises for Second Day on Speculation About Stimulus Steps
Bloomberg
Copper rose for a second day in New York amid speculation China and the U.S., the world’s two largest users of the metal, may move to stoke their economies. The Federal Reserve is ready to take steps to spur growth “as appropriate,” Chairman Ben S.
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Bang & Olufsen enrolls partners for China growth
Reuters
The Danish company, struggling to recapture its pre-eminence in upmarket stereos and televisions, follows a hoard of luxury brands that have pinned their hopes on China’s growing middle classes to offset weak demand in Europe and the United States.
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Our Olympic uniforms should be made in US
The Daily Advertiser
So no one should be surprised that many Americans were upset to learn the uniforms to be worn by U.S. Olympic Team members at opening ceremonies July 27 are, like so many other products we use every day, made in China. Keen as we are on
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China’s New Oriental rejects Muddy Waters accounts allegations
Reuters
(Reuters) – New Oriental Education & Technology Group Inc (EDU.N) rejected on Thursday claims by short seller Muddy Waters that the Chinese education firm’s accounts were fraudulent in claiming full ownership of its centers. New Oriental, whose stock
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Why Asians want to move to the US
CNN
“There have been many thousands upon thousands of Chinese students attracted to the U.S. for studies,” said Yeung Yue-Man, Emeritus Professor at the Chinese University of Hong Kong who specializes in development patterns. “This trend has been
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White House: Russia-China veto on Syria “highly regrettable”
Reuters
ABOARD AIR FORCE ONE (Reuters) – The White House on Thursday criticized the vetoes of Russia and China of a U.N. Security Council sanctions resolution against Syria as “highly regrettable” and “highly unfortunate” and said it meant a U.N. observer
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