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U.S. China News 2012.07.25

Wed, July 25, 2012

US Concerned about Chinese Troops Plans on Disputed Island
Voice of America
U.S. Senator John McCain called the move “unnecessarily provocative,” saying such action reinforces why many Asian countries are increasingly concerned about China’s territorial claims. China has been accused by its neighbors of becoming increasingly
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US says China human rights deteriorating, urges Beijing to allow dissent
Washington Post
WASHINGTON — The United States says the human rights situation in China is deteriorating and it is time for its authoritarian government to allow dissent. U.S. Assistant Secretary of State Michael Posner was speaking after an annual U.S.China human
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Chinese VP Says Consensus Reached in US Meetings
ABC News
China and Russia last week vetoed a U.N. Security Council resolution backed by the U.S. and other Western nations that would have imposed new sanctions on Syria’s government as the rebellion there has grown into a civil war. Washington has also been
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China-Canada oil deal shows more US drilling needed: senator
Reuters
WASHINGTON (Reuters) – Republican senators will unveil new energy legislation on Thursday that will help battle a new move by China to tap North American energy resources, Senator John Hoeven said. China’s state-owned oil company CNOOC Ltd.
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After China panned more gold in 2008, US aims to increase payload
Kansas City Star
But host China usurped the United States in the gold medal tally. At the London Games, which open Friday, the United States hopes to reassert its dominance, even as athletes from Great Britain make the home team push for a spike in their medal count.
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PepsiCo’s profit hit by China deal, strong dollar
msnbc.com
PepsiCo has made it a priority this year to strengthen its flagging U.S. soda business, which has lost market share to The Coca-Cola Co. in recent years. Even though PepsiCo is increasingly moving beyond sodas, Pepsi bears the corporate name and
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Chinese VP says consensus reached on many issues in meetings with US
Washington Post
BEIJING — Chinese Vice President Xi Jinping said a consensus was reached on many points in bilateral talks with President Barack Obama’s national security adviser, who concluded a visit to Beijing on Wednesday. Xi, who will succeed President Hu Jintao
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PepsiCo’s profit falls 21 percent in 2Q
U.S. News & World Report
The company, whose brands include Frito-Lay, Gatorade and Tropicana, said Wednesday that it booked charges in the quarter related to the refranchising of its beverage business in China to Tingyi Holding Corp. The move is considered Follow U.S. News
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Caterpillar 2nd Quarter Net Rises 67%; Raises Year EPS View
Wall Street Journal
He said low interest rates, an improving U.S. housing market and the commitment by central banks to add more liquidity to flagging economies should help the U.S. avoid recession in 2012. He added that interest-rate cuts in Brazil and China and the passage
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Morici: China’s Role in the Presidential Election
CNBC.com (blog)
Consumers are spending again, but too many dollars go abroad to purchase foreign oil and Chinese goods without returning to purchase U.S. exports—thanks in significant measure to Congressional Democrats and President Obama blocking development
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Medals, not uniforms, are what matters
Chicago Tribune
Ralph Lauren designed the blue blazers, white pants and cute berets our athletes will be wearing when the 2012 games open next week, but those preppy, all-American outfits were manufactured in China. This has ticked off some people. And though I think
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US security adviser meets Chinese defense official
Atlanta Journal Constitution
U.S. National Security Advisor Tom Donilon, left, introduces his entourage while Chinese President Hu Jintao, right, prepares to shake hands during their meeting at the Great Hall of the People in Beijing, Tuesday, July 24, 2012. (AP Photo/Alexander F. Yuan,
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Insight: China’s CNOOC scoped Nexen, partnered, then pounced
Reuters
The agreement is a triumph for China’s third-largest oil company, which had to abandon its $18.5 billion bid for California-based Unocal in 2005 because of bitter opposition on sovereignty grounds from U.S. lawmakers, and shows how far the Chinese have
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IMF softens language on China yuan value as issue recedes
Reuters
BEIJING (Reuters) – The International Monetary Fund said the Chinese yuan was only “moderately undervalued” against a basket of currencies in an annual assessment released on Wednesday, suggesting a lessening of international pressure on Beijing
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China economy set for soft landing, needs more reform: IMF
Chicago Tribune
BEIJING (Reuters) – China’s economy is set for a soft landing even as global headwinds increase, the International Monetary Fund said in a report on Wednesday that urged further reform and currency appreciation to rebalance growth and reduce risks.
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US says human rights deteriorating in China
NewsWest9.com
The United States says the human rights situation in China is deteriorating and it is time for its authoritarian government to allow dissent. The United States says the human rights situation in China is deteriorating and it is time for its authoritarian government to
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A New IMF Report Says Chinese Currency Reform Is Working
Business Insider
What’s more, the People’s Bank of China’s decision to widened the renminbi’s trading band against the U.S. dollar to 1 percent back in April has allowed market forces to have a bigger influence on the exchange rate. This wider band allows daily fluctuations
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Oil Near $89 Ahead of US Inventory Figures
ABC News
Europe is mired in its deepening debt crisis, China’s breakneck growth has waned and the U.S. recovery has stumbled. Data Tuesday from China suggested that stimulus measures are starting to help manufacturers but the global economy is not out of the
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IMF says China’s economy reached ‘soft landing’
U.S. News & World Report
By ELAINE KURTENBACH, Associated Press. SHANGHAI (AP) — China has achieved a “soft landing” in its economic slowdown, the IMF says while cautioning that more sweeping reforms are needed to ensure healthy growth in the longer term. In a report
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China says to tighten regulation of rare earths despite WTO probe
Reuters
The WTO confirmed on Monday that it would establish a panel to look into complaints made by Europe, Japan and the United States over China’s curbs on exports of rare earths, a group of 17 elements used in advanced technologies for the defense,
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Daimler defies slowdown worries to keep earnings target
Reuters
“The risks will more likely increase in the second half rather than decrease,” Chief Executive Dieter Zetsche told reporters, citing concerns raised by his morning newspaper over China and the United States, as well as Europe. “Every day we discuss
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China seeks N. American energy reserves, know-how
Wilkes Barre Times-Leader
FILE – In this Aug. 24, 2011 file photo, China National Offshore Oil Company Ltd. Chairman Wang Yilin attends a company announcement in Hong Kong. Oil and gas producer Nexen Inc. has agreed to be acquired by China National Offshore Oil Company for
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Oil drops as US stockpiles swell, Europe woes persist
Reuters
An improvement in China’s manufacturing sector in July propped up prices in early trading, but reports that the economy of the world’s second biggest oil consumer was still weakening kept investors cautious. The International Monetary Fund said China’s
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Oil falls on US stockpile gain, China concern
Providence Business News
Oil falls on U.S. stockpile gain, China concern. OIL TRADED NEAR its lowest in a week in New York on speculation that an increase in U.S. crude stockpiles signaled slowing demand in the world’s biggest consumer of the commodity. BLOOMBERG FILE
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OIL FUTURES: Crude Little Changed Ahead of US Oil Data
Fox Business
An indication of near-term fundamentals in the world’s biggest oil consumer will come as the concerns about weakness in demand from ailing economies in Europe and China have kept prices in check. The International Monetary Fund said China’s economy
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Will the US defend Philippines if China attacks?
ABS CBN News
MANILA, Philippines – The US military might not come to the Philippines’ aid if Chinese forces attack Filipino ships and claimed territory in the disputed Spratly Islands and Scarborough Shoal, international affairs experts have warned. While the 1951 Mutual
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Army sergeant stands trial in death of Asian-American soldier
Reuters
FORT BRAGG, North Carolina (Reuters) – Military prosecutors on Tuesday said a U.S. Army sergeant’s physical abuse and racial harassment led a young ChineseAmerican soldier to commit suicide weeks after he was deployed to Afghanistan. But a defense
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News Summary: PepsiCo’s profit hit by China deal
msnbc.com
THE BIG PICTURE: The Purchase, N.Y.-based company said its organic revenue, which strips out the impact of foreign exchange rates and the refranchising of its Mexico and China businesses, rose 5 percent in the quarter. Data: Latest rates in the US
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US, China are all talk on human rights
GlobalPost (blog)
Chinese diplomats are in Washington, DC for human rights talks with the US this week, an annual meeting some say is toothless and allows China forgo mention of human rights during other diplomatic negotiations. Rights groups are calling for the US to
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China seeks North American energy reserves, know-how
NewsOK.com
China seeks North American energy reserves, know-how. Weaker oil prices and a resolve to capture technologies China needs to unlock its own sizable but hard to extract reserves are powerful incentives for its energy companies to snap up foreign
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China to Flood Steel Market Hurting ArcelorMittal: Commodities
Businessweek
“Increased Chinese exports take sales directly away from American producers,” Alan Price of Wiley Rein LLP, which acts as the trade attorney for Nucor Corp. (NUE) (NUE), the largest U.S. steelmaker by market value, said in an e-mail response to questions.
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US DOE Weekly Petroleum Status Report for July 20 (Text)
Businessweek
U.S. crude oil refinery inputs averaged 15.8 million barrels per day during the week ending July 20, 258 thousand barrels per day above the previous week’s average. Refineries operated at 93.0 percent of their Making Safe School Buses for China’s Kids
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Demand products made in USA
Syracuse.com (blog)
It is appalling that our U.S. Olympic Committee bought ”Made in China” uniforms. But for all of those who are complaining, I would like them to check their own closets to see how many of their items of clothing are made in the United States. Our national
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How China and US is Like Jerry Sandusky and PSU
Top Secret Writers
The discussion revolving around the Jerry Sandusky case is not meant to be an indictment on Penn State University, PSU football players, students, professors nor alumni. While referencing Sandusky’s case, I am only calling attention to those parties who
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U.S. DOE Weekly Petroleum Status Report for July 20 (Text)
Bloomberg
U.S. crude oil imports averaged 9.6 million barrels per day last week, up by 696 thousand barrels per day from the previous week. Over the last four weeks, crude oil imports have averaged 9.0 million barrels per day, 516 thousand barrels per day below the
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Opening statements begin in Pvt. Danny Chen hazing court-martial
Stars and Stripes
Was it solely Chen himself, by a self-inflicted gunshot wound at his isolated desert base in Afghanistan? Or did his fellow soldiers hound Chen to his death at age 19 — kicking the Chinese American soldier, hitting him with rocks and shaming him with racial
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US senator blasts China’s ‘unnecessary provocation’
Manila Standard Today
BEIJING’S decision to form a military garrison in the newly-established city of Sansha was “unnecessarily provocative,” United States Senator John McCain of Arizona said on Wednesday. “The decision by China’s Central Military Commission to deploy troops
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China’s favorite Sun relishing his chance: coach
Reuters
Sun-led China, however, is on the rise with the help of foreign coaches, which have included American Mike Bottom, who trained 200 butterfly specialist Wu Peng to a bronze in the world championships. “To a little degree you could say (the criticism’s) fair,”
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U.S. manufacturing growth 2nd-worst post recession
MarketWatch
Earlier, Markit reported that euro-zone manufacturing PMI dropped to 44.1 in July from 45.1 in June, which marks the worst level in more than three years, and that the HSBC Chinese manufacturing PMI edged up to 49.5 from 48.2 in June. Paul Dales, senior
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AAPL Conf Call: No Sign of Economic Issues in US, China
Barron’s (blog)
By Tiernan Ray. Following fiscal Q3 results that missed consensus estimates and a Q4 view that also fell short of expectations, Apple (AAPL) held a conference call with analysts. The shares declined $31.64, or 5.3%, to $569.28 in late trading by the end of the
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Oil Tumbles as Supplies Gain, US Output Surges
Bloomberg
Oil declined after an Energy Department report showed U.S. stockpiles unexpectedly climbed as production surged to the highest level in 13 years. Futures fell as much as 1.8 percent after the department said supplies rose 2.72 million barrels to 380.1 million
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