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U.S. China News 2012.08.09

Thu, August 9, 2012

China’s Olympic goal: Dominate the medal count
Casper Star-Tribune Online (blog)
“The intention of the Chinese is to win every medal, every single medal,” said Jeff Ruffolo, an American who has worked for the Chinese government to help plan several sports competitions including the 2008 Olympics. “Watch what happens in Rio,” added
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Asia Pacific talks not aimed at containing China: US official
Chicago Tribune
WASHINGTON (Reuters) – U.S.-led talks on a free trade pact in the Asia Pacific region are not an attempt to economically contain China, a top U.S. trade official said on Wednesday. “This is absolutely not a negotiation that’s directed at China,” Deputy
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NYMEX-US crude steady ahead of China data
Reuters
SEOUL Aug 9 (Reuters) – U.S. crude futures remained steady on Thursday prior to a slew of Chinese economic data, after leaping to three-month highs on last week’s U.S. crude stock drawdowns and North Sea oil supply concerns. FUNDAMENTALS
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Internet Attacks From China and US Increased in First Quarter of 2012, Report
PCWorld
By Loek Essers, IDG-News-Service:Amsterdam-Bureau. China and the U.S. were the two largest sources of Internet-attack traffic in the first quarter of 2012, increasing to account for 16 percent and 11 percent respectively, according to Akamai Technologies.
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Murder trial of wife of Chinese politician begins
U.S. News & World Report
By GILLIAN WONG, Associated Press. HEFEI, China (AP) — Testimony in China’s most closely watched murder case in decades wrapped up within hours on Thursday as the wife of disgraced politician Bo Xilai stood accused of luring a British businessman to
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US Olympic Medal Count 2012: US Volleyball Domination Provides Leg Up on
Bleacher Report
By the time all the medals had been given out on Day 12 at the 2012 London Olympics, the United States finally surpassed rival China as the top medal-getting country of the Games. The Chinese still have two more gold medals to their credit (36 to 34
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US trade deficit falls to lowest in 18 months
Businessweek
The trade deficit with China worsened, rising 5.2 percent to $27.4 billion. U.S. sales to China fell, possibly because that country’s growth is slowing. Exports to China dropped 4.3 percent to $8.5 billion. A private trade group said last week that its
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The Bully of the South China Sea
Wall Street Journal
But another reason is that China’s aggressive behavior in the South China Sea has caused a backlash among its neighbors and hardened their determination to resist Chinese bullying. Instead of admitting its mistake, Beijing wants to treat the U.S. as
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Stocks waver after good jobs report, weak data from China
USA TODAY
NEW YORK (AP) – The stock market wavered Thursday between small gains and losses as investors were pulled between positive news about the U.S. economy and signs of trouble in China and Europe. Trader Sean Spain works on the floor of the New York
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METALS-Copper steady, China data boosts stimulus hopes
Reuters
China July industrial output growth at three-year low * China CPI at 30-month low offers room for more easing * U.S. job, trade data beat expectations By Susan Thomas and Silvia Antonioli LONDON, Aug 9 (Reuters) – Copper was little changed on Thursday
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China unbeatable in table tennis and some _ including Chinese _ worried about
Washington Post
“It’s like the U.S. with basketball or Canada with ice hockey. If you keep it only for yourself — you win everything and nobody else can win — then everybody else loses interest. “China itself has a responsibility to do something, and we have been
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China’s auto sales growth slows amid weak economy
U.S. News & World Report
BEIJING (AP) — Growth in China’s auto sales decelerated in July, data showed Thursday, adding to signs of weakness in the world’s second-largest economy. Passenger car sales rose 11 percent to 1.12 million, down from June’s 15.8 percent rate, the
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Diana Lopez of US loses Olympic taekwondo opener
Knoxville News Sentinel
United States‘ Diana Lopez fights China’s Hou Yuzhuo (in red) during their match in women’s 57-kg taekwondo competition at the 2012 Summer Olympics, Thursday, Aug. 9, 2012, in London. (AP Photo/Ng Han Guan). United States‘ Diana Lopez gets a kiss
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US stock futures mixed with economic data from China offsetting some positive
Newser
Still, economists are concerned that the global economic downturn could slow a recovery in the U.S. and on Thursday there was more unsettling news from China, the world’s second-largest economy. China’s factory output grew at the slowest pace in three
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Clinton’s Africa tour advances U.S. militarism, attacks on China
Workers World
During the tour Washington’s top diplomat pushed U.S. militarism and verbally attacked the People’s Republic of China. Clinton’s visit comes just two weeks after a major Africa-China summit meeting in Beijing between 50 countries on the continent and
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Caterpillar exporting China-made goods
Reuters
“The global economic situation, especially the situation in China, has presented us a short-term opportunity to serve very specific markets with some supplies over the last half of 2012,” he said. “But that is not part of overall strategy for China
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China defers plan to take 50 percent of state firm profits on growth fears
Reuters
BEIJING (Reuters) – China has postponed a plan to take up to half the profits of state-owned firms for fear of exacerbating an economic slowdown ahead of a sensitive once-a-decade leadership change, government sources and researchers say. The Ministry
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2012 Olympic Medal Count: Team USA Overtakes China With Pack Of Track
SB Nation (blog)
The United States took back the lead in the overall medal count at the 2012 Olympics on Wednesday’s Day 12. Seven medals from four events on the track, including gold medals by Allyson Felix, Aries Merritt and Brittney Reese, helped propel Team USA
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Australia not bridge between US and China: Smith
Sydney Morning Herald
Defence Minister Stephen Smith has rejected the suggestion that Australia should seek to play a bridging role between the US and China, while re-stating Canberra’s concerns that the two giants forge a more amicable relationship. Speaking at the Lowy
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Nikkei rises for fourth day on China easing hopes, brushes 9000
Reuters
TOKYO (Reuters) – Japan’s Nikkei share average rose for the fourth straight day on Thursday as momentum was sustained by mixed data from China that kept hopes alive for policy action to tackle the slowdown in Japan’s biggest export market.
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Bolt eyes double delight after US close on China
KGMI
By Mark Trevelyan. LONDON (Reuters) – United States won the latest battles in their fierce track rivalry with Jamaica on Wednesday while Usain Bolt cruised through to the 200 meters final where he will aim to prove once and for all he is an Olympic
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ZAP Jonway Receives US$12.7 Million in Dealership Financing From China
NASDAQ
9, 2012 (GLOBE NEWSWIRE) — ZAP Jonway (OTCBB:ZAAP) received US$12.7 million in dealership financing from China Everbright Bank at the end of July 2012 to finance the purchase of vehicles for sale at qualified dealerships in China. The dealership
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‘Flawed US plan for war with China may spark nuclear strikes’
Zee News
Professor White, the author of a just-published book on the USChina relationship is also a strong critic of Air-Sea Battle, which he says has three fundamental problems. ‘Firstly, I don’t think it will work; second, even if it does work operationally
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US battery maker A123 may be rescued by Chinese group
Reuters
“This is a very troubling transaction that should be strictly scrutinized by the U.S. government,” said Michael Wessel, a member of the bipartisan U.S.China Economic and Security Review Commission, which advises lawmakers on trade policy. “This is a
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GLOBAL MARKETS-Stimulus hopes keep US stocks near 4-year high
Reuters UK
(Adds U.S. market open, detail on U.S. data, comment, adds byline, changes dateline, previous LONDON). * China data keeps alive talk of fresh central bank stimulus. * European shares approach 2012 high; S&P near 4-year high. * Oil up but euro wavers as
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China firm seeks major stake in US battery company
Reuters
(Reuters) – U.S. battery maker A123 Systems (AONE.O), which got a $249 million green technology grant from the U.S. government three years ago, said on Wednesday that a Chinese auto parts maker is looking to take an 80 percent stake in the faltering
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Oil Trades Near Two-Day Low as U.S. Petroleum Demand Weakens
Bloomberg
Oil fluctuated after falling for the first time in four days yesterday in New York as speculation that China will take more steps to boost its economy countered signs of weakening demand in the U.S., the biggest crude user. Futures were down as much as
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Asia Pacific talks not aimed at containing ChinaUS official
Reuters
Some in China see initiative as bid to contain it. * U.S. says any APEC member can join if it meets standards. * Considering whether to restart talks on Taiwan trade ties. By Doug Palmer. WASHINGTON, Aug 8 (Reuters) – U.S.-led talks on a free trade
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Brazil Real Opens Weaker on China Data, Europe Concerns
Wall Street Journal
RIO DE JANEIRO–The Brazilian real traded weaker against the U.S. dollar at the open Thursday as China continued to show signs of a slowdown and European concerns lingered. The real tracked declines in the euro, a key indicator for the Brazilian
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China factory output growth at three-year low, spurs easing hopes
Chicago Tribune
BEIJING (Reuters) – Annual growth in China’s factory output slowed to its weakest in more than three years in July, missing market forecasts and increasing expectations that Beijing will take further policy steps to support an economy that has been
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FTSE CLOSE: Positive US jobs data offsets fears of slowdown in China, leaving
This is Money
17.20 (close): London’s leading shares index closed ahead for the fifth day in a row today as positive jobs data in the US offset fears over a slowdown in China. The FTSE 100 Index rose 5.6 points to a fresh four-month high of 5851.5 after the US Labor
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China politician’s wife doesn’t deny killing Brit
USA TODAY
HEFEI, China (AP) – The wife of disgraced Chinese politician Bo Xilai lured a British businessman to a hotel in the southwestern mega-city of Chongqing, where she got him drunk and poisoned him, testimony revealed Thursday in one of China’s highest
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US senators ask China to stop selling fake IDs
CR80News
Four U.S. senators have sent a letter to China’s ambassador to the U.S. urging the country to crack down on companies in that are selling fake driver licenses. The letter by Sens. Charles Grassley (R-Ia.), Tom Harkin (D-Ia.), Mark Kirk (R-Ill.) and
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China to US: ‘Shut up,’ butt out of territorial disputes
Washington Times
View results · China told the United States to “shut up” and stay out of its dispute with countries bordering the South China Sea, after a State Department spokesman called for a peaceful settlement to the conflicting claims in the energy-rich
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US right wing attacks Zoellick
Financial Times
Instead, the news of Mr Zoellick’s role in the campaign prompted elements of the rightwing blogosphere in the US to erupt in venom. Mr Zoellick was described variously as pro-China “to the point of mania”, unsupportive of Israel, weak on the Soviet
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Increasing US military presence ‘ensures China doesn’t gain advantage’
ABC Online
DAVID MARK: The former director of National Intelligence in the United States says the increasing US military presence in Australia will ensure China doesn’t gain a military advantage in the region. Admiral Dennis Blair happily concedes that this will
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Global miner sticks to spending US$16bil on hope China picks up
Malaysia Star
LONDON: Global miner Rio Tinto stuck to its US$16 billion spending plans, despite first-half profit falling by a third, predicting a modest pickup in the Chinese economy later this year that should stimulate demand for iron ore. The world’s second
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Murder trial could damage China’s Communist Party
Detroit Free Press
Bo’s ascension was derailed when his police chief Wang Lijun, famous for a Chinese TV series about his crime-fighting, arrived at the doorstep of a U.S. Consulate in February. No one knows for certain why Wang made the visit, but he may have disclosed
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China now top export destination for most of US
China Daily
All but 15 of the 435 districts represented in Congress recorded larger numbers of goods sold to China than to other export markets in 2011, according to a leading business group. The USChina Business Council, which represents US companies that do
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China factory output disappoints, more stimulus seen
Reuters
BEIJING (Reuters) – China’s factory output growth slowed unexpectedly in July to its weakest in more than three years, underlining stiff global headwinds that may prompt policymakers to take more action to keep growth on track to meet a 7.5 percent
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US forecasters update hurricane season outlook
NewsWest9.com
The wife of disgraced Chinese politician Bo Xilai stood trial Thursday for the murder of a British former associate in a tightly orchestrated proceeding that marks a key step toward resolving the messiest scandal… The wife of disgraced politician Bo
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Oil Hovers Above $93 as China Inflation Eases
ABC News
Oil hovered above $93 a barrel Thursday in Asia as lower inflation in China reinforced expectations for more stimulus measures to boost waning economic growth. Benchmark crude was up 14 cents to $93.49 a barrel at late afternoon Singapore time in
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