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U.S. China News 2012.07.24

Tue, July 24, 2012

Chinese president emphasizes healthy, stable ChinaUS relationship
Xinhua
BEIJING, July 24 (Xinhua) — President Hu Jintao said Tuesday that China is ready to work with the United States to advance the ChinaU.S. relationship in a healthy and stable way. President Hu made the remark when meeting with U.S. President Barack
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Europe, US economies struggle as China stabilizes
Reuters
NEW YORK/LONDON (Reuters) – The struggles of the U.S. and euro zone economies continued in July, business surveys showed on Tuesday, though improved Chinese factory output suggested stimulus measures may be starting to boost the world’s
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US, China begin annual human rights dialogue
USA TODAY
Comments. WASHINGTON (AP) – The U.S. and China began their annual human rights dialogue Monday that gives Washington a chance to broach thorny issues but also demonstrates its limited leverage with Beijing. Chinese activist Chen Guangcheng and
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GLOBAL ECONOMY-Europe, US economies struggle as China stabilizes
Reuters
Chinese slowdown likely bottomed. * Euro zone set for more pain. * U.S. manufacturing growth slowest in 19 months. By Steven C. Johnson and Jonathan Cable. NEW YORK/LONDON, July 24 (Reuters) – The struggles of the U.S. and euro zone economies
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China seeks N. American energy reserves, know-how
The Seattle Times
Back in 2005, protests that the sale of Unocal might jeopardize U.S. national security prompted CNOOC Ltd. to withdraw its $18.5 billion bid. “The main problem for Chinese companies buying American companies is always not the price, but the politics,” said
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US national security adviser meets Hu in China
Huffington Post
BEIJING — President Barack Obama’s national security adviser, Thomas Donilon, has met Chinese President Hu Jintao to discuss security in the Middle East and Asia. No details of their meeting Tuesday were immediately released, but the two were also
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Danny Chen Hazing Case: First Of Trials To Begin
Huffington Post
FAYETTEVILLE, N.C. — The first of eight court-martial trials was set to begin Tuesday for U.S. soldiers accused of hazing a ChineseAmerican recruit over his ethnicity until he killed himself in Afghanistan. Sgt. Adam Holcomb of Youngstown, Ohio, will be the
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Oil seesaws as euro zone worries counter China data
Reuters
NEW YORK (Reuters) – Oil was near unchanged in choppy trading on Tuesday, wavering as weak euro-zone data provided pressure while signs of an improving manufacturing sector in China offered support to crude futures. The euro zone’s private sector
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As China costs rise, technology lures US factories home
Reuters
After decades roaming the world in search of lower costs, U.S. manufacturers are finding that factories at home can compete with China, India, Mexico and other low-cost countries. To be sure, labor-intensive industries like clothing and electronics, which are
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Top US Security Envoy Holds Talks in Beijing
Voice of America
Jin Canrong, associate dean of the school of International Relations at Renmin University, says that although the U.S.China relations are generally stable, the two countries have to work out conflicting opinions on a range of matters. “The two sides do not trust
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Dominic Genetti: Olympic uniforms made in China will be sad for USA
Sturgis Journal
In case you haven’t heard, the United States athletes will be wearing specially made suits by Ralph Lauren. Sounds nice for a company like Ralph Lauren to step up and do that, doesn’t it? Well here’s the catch: The uniforms were made in China, and along
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Rights Groups Call for US to Pressure China on Rights Abuses
Voice of America (blog)
Rights groups are calling for Washington to pressure China over its crackdown on dissent as U.S. and Chinese officials wrap up their two-day human rights dialogue Tuesday. The annual closed-door talks are being held in Washington, led by U.S. Assistant
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China Ousts U.S. in Canada Oil Market With Bid for Nexen: Energy
San Francisco Chronicle
July 24 (Bloomberg) — Cnooc Ltd.’s $15.1 billion cash takeover bid for Nexen Inc. signals a Canadian shift toward China and away from the U.S. as the nation’s traditional oil and natural-gas partner and main export market. Canada’s oil sands reserves, the
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US Stock Futures Track Europe Markets Lower
Wall Street Journal
U.S. stock futures pushed lower on Tuesday, tracking losses for European markets as sovereign-debt worries continued to weigh heavy, with an upbeat reading on China manufacturing activity only somewhat stemming the gloomy tide. Futures on the Dow
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US national security adviser meets China’s president to discuss Mideast, Asian
Washington Post
Donilon’s visit comes as Syria plunges deeper into violence with rebels pressing their fight to topple President Bashar Assad. China joined Russia last week in vetoing a resolution backed by the U.S. and other Western nations that would have imposed new
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RPT-FEATURE-As China costs rise, technology lures US factories home
Reuters
SCHENECTADY, N.Y./NEW YORK, July 24 (Reuters) – Seesmart Inc , a small California lighting company, used to make all of its LED products in China, but last year that started to change. Frustrated by expensive and slow shipping and wanting more control
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China dubs tiny island new city in sea claim bid
U.S. News & World Report
By ALEXA OLESEN, Associated Press. BEIJING (AP) — China’s newest city is a remote island in the South China Sea barely large enough to host a single airstrip. It has a post office, bank, supermarket and a hospital, but little else. Fresh water comes by
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1st of 8 courts-martial to start in Army hazing of ChineseAmerican soldier who
Greenfield Daily Reporter
FILE – This undated file photo provided by the U.S. Army shows Pvt. Danny Chen,19, who was killed Monday, Oct. 3, 2011 in Kandahar, Afghanistan. The first of eight court-martial trials was set to begin Tuesday for U.S. soldiers accused of hazing Chen,
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Canada Shifts Toward China With $15 Billion Nexen Deal
Businessweek
Chinese oil producers have turned more frequently to Canada after political opposition in the U.S. derailed Cnooc’s $18.5 billion bid for Unocal Corp. in 2005, and after TransCanada Corp. (TRP)’s Keystone XL pipeline route south to Texas was blocked by
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USChina Human Rights Talks Begin in Washington
China Digital Times
“We consider that this is an integral part of all of the work we do to try to build a strong partnership and cooperation across the board with China,” State Department spokeswoman Victoria Nuland told reporters. “We are always, whether it’s at the presidential
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China seeks N. American energy reserves, know-how
The Associated Press
By ELAINE KURTENBACH, AP Business Writer – 1 minute ago. SHANGHAI (AP) — Offshore Chinese energy giant CNOOC’s $15 billion offer for Canadian oil and gas producer Nexen Inc. is strategically calibrated to win regulatory approval — unlike its failed
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China stabilizes, euro zone struggles on
Chicago Tribune
LONDON/BEIJING (Reuters) – The troubled euro zone’s private sector looks set for many months of more pain, July business surveys showed on Tuesday, contrasting with Chinese manufacturers reporting a pick-up in output and signs of stabilization in new
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Chinese Oil Companies’ Deal Appetite to Grow
Wall Street Journal
While their strategic direction is guided by Beijing, Chinese oil-company executives also face pressure to increase profits and reserves for investors as well as a Chinese public that sees the companies as national assets. The U.S.-traded shares of Cnooc and
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Analysis: Nexen deal should get approved by Ottawa
Chicago Tribune
Canadian Prime Minister Stephen Harper went to Beijing in February this year, partly in a bid to sell Canadian oil to China, and he stressed the need to diversify markets and reduce reliance on the United States. Without foreign money, development of the oil
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Oil rises as China data gives recovery sign
U.S. News & World Report
By CHRIS KAHN, Associated Press. NEW YORK (AP) — The price of oil is up slightly on signs that China’s manufacturing is getting stronger. A survey of manufacturers on Tuesday suggested that factory activity in China rebounded to its highest level in nine
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Markit Index of Manufacturing in US Fell to 51.8 in July
Businessweek
Estimates ranged from 51 to 53. The European debt crisis and slower growth in China and Brazil threaten to limit demand for U.S. exports. At the same time, American consumers are slowing their spending and businesses are tempering equipment purchases
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Goff: ChinaUS Relations – Implications for New Zealand
Scoop.co.nz (press release)
There are Chinese strategists on the other hand, who see the US as a damaged super power determined to block the restoration of China to its rightful international position. They see the US as seeking through treaty arrangements and military deployments to
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1st Court-Martial Begins in Hazing Death of ChineseAmerican Army Private
Democracy Now
The first of eight U.S. soldiers charged in the death of Army Private Danny Chen is set to face a court-martial today at North Carolina’s Fort Bragg. A 19-year-old Chinese American, Chen allegedly took his own life just weeks after he was deployed to
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Getting North American oil into global markets
Futures Magazine
Others suggest that China’s influence in Canada could actually start to remove the North American oil glut and help bring about an accelerated construction of a pipeline running to the Pacific coast from oil-sand reserves in Alberta in the long-term. Dow Jones
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Copper up on China PMI data; euro zone crisis to cap gains
Reuters
SHANGHAI (Reuters) – London copper rebounded on Tuesday after data showed July manufacturing output in top metals consumer China grew at its fastest pace in nine months, temporarily easing worries that Spain’s debt problems may undermine global demand for metals. The HSBC Flash China manufacturing purchasing managers “The next important data to scour for trading cues are the various PMI data out of Europe and the U.S. retail numbers tonight. Should they turn out worse than expected, today’s rally
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NYPD Officer Talks Suicidal Man From His Hometown Down From Bridge
ABC News
A minor miracle on the upper deck of New York City’s Verrazano-Narrows Bridge may have helped save the life of a suicidal ChineseAmerican man. Soon after police responded Monday afternoon to a report of a man who had parked his car on the bridge
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US, China begin annual human rights dialogue
Fox News
WASHINGTON – The U.S. and China began their annual human rights dialogue Monday that gives Washington a chance to broach thorny issues but also demonstrates its limited leverage with Beijing. Human rights groups urged the U.S. to press China over
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China Education International, Inc. Announces a Wide Range of American
MarketWatch (press release)
DELRAY BEACH, Fla., July 24, 2012 /PRNewswire via COMTEX/ — China Education International, Inc. (OBB:CEII) (the “Company”), which manages the operation of private schools and educational activities in China, today announced it will offer a wide range
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China Manufacturing May Contract at Slower Pace, HSBC Index Says
Bloomberg
At the same time, Volkswagen AG (VOW), Europe’s largest carmaker, reported accelerating first-half sales growth as Chinese and U.S. demand helped its premium Audi division and namesake VW brand. “Conditions are deteriorating in the global economy
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Why Are The US Olympic Uniforms Being Made In China?
Forbes
If, as William James wrote in 1906, that the Olympics are “the moral equivalent of war”, then is the decision to make the US Olympic uniforms in China the moral equivalent of treason? Not surprisingly, the discovery—in an election year—of the place of
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China’s Oil Hunger Hits $15 Billion in Canada Amid US Diet Deals
Minyanville.com
Even though Monday’s landmark bid for Nexen will face Canadian regulatory review, Chinese energy acquisitions may remain a more relevant prospect in Canada, with joint ventures remaining the preferred way to gain access to US-based asset sellers like
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Nexen Given Top Return on Bet Canada Clears Bid: Real M&A
Bloomberg
Nexen Inc. (NXY), the target of the largest overseas bid from a Chinese company, is offering traders the chance to make the most money on any North American deal by betting the $15.1 billion takeover will get Canadian approval. Cnooc Ltd. (883), China‘s
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US Stocks Open Lower Ahead of Manufacturing Data
Wall Street Journal
NEW YORK–Stocks fell as investors weighed mounting pressure on Spanish markets against encouraging data out of China, and waited for a regional reading on U.S. manufacturing activity. The Dow Jones Industrial Average declined 29 points, or 0.2%,
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Chinese-Americans decry US soldier’s death
WSLS
NEW YORK –. NEW YORK (AP) Chinese-Americans decrying the suicide of a teenage Army private who investigators say was hazed because of his ethnicity left Monday for the court martial of the first of eight U.S. soldiers accused of pushing him to the edge.
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US prosecutors dealt setback in China economic espionage case
Reuters
SAN FRANCISCO (Reuters) – A U.S. judge ruled prosecutors had not properly notified China-based Pangang Group Steel Vanadium & Titanium Co Ltd of a criminal indictment over allegations it conspired to steal trade secrets from chemical giant DuPont.
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US unions urge tougher enforcement in Russia trade bill
Chicago Tribune
WASHINGTON (Reuters) – U.S. union groups, frustrated by what they describe as a decade of broken promises by China since the Asian economic giant joined the World Trade Organization, are pressing Congress to take a tougher approach with Russia,
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The End of Chinese Manufacturing and Rebirth of US Industry
Huffington Post
But rising labor costs, concerns over government-sponsored I.P. theft, and production time lags are already causing companies such as Dow Chemicals, Caterpillar, GE, and Ford to start moving some manufacturing back to the U.S. from China.
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Olympics call for American apparel
UT Daily Beacon
Ralph Lauren had the U.S. Olympic Opening Ceremony uniforms made in China. So now there’s another thing we have to worry about. The discussion is going back and forth relentlessly. Many Americans are outraged, including political officials, because,
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Food-Cost Surge on U.S. Drought May Bring Steel Slump, Alfa Says
Bloomberg
A sustained 20 percent increase in agricultural prices in the U.S. could push up Chinese inflation by 260 basis points, as food accounts for about 30 percent of the country’s CPI, Ehrlich said in a report published today. Soybean and corn prices climbed to
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Oil stabilizes near US$88 as Chinese data suggests recovery
CanadianBusiness.com
LONDON – The price of oil was down slightly on Tuesday, after a steeper decline the day before on Europe’s deepening debt turmoil, as a survey suggested a recovery in China’s manufacturing is taking hold. Benchmark crude for September delivery was
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Trial to start in alleged hazing, death of Asian-American soldier
Reuters
The U.S. Army charged the soldiers after officials said Private Danny Chen, born in New York City to Chinese immigrant parents, committed suicide by shooting himself in a guard tower in southern Afghanistan on October 3, 2011. The men, all Chen’s
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