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U.S. China News 2012.08.21

Tue, August 21, 2012

GGV Capital, With $625 Million In New Funds, Targets China, US Growth
Forbes
GGV’s shared ChinaU.S. strategy means U.S. partners spend four to eight weeks in China each year and China partners do the same in the U.S. The firm also holds quarterly partner meetings that alternate between China and the U.S. The partners spend so
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China declares US energy projects violate free trade, stepping up trade spat
Fox News
BEIJING – China’s government has ruled that U.S. government support to six American solar and wind power projects violates free trade rules, adding to strains between Beijing and its trading partners over renewable energy. The United States and China
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China’s July oil imports from Iran fall 28 percent on month
Reuters
BEIJING (Reuters) – China’s crude oil imports from Iran fell nearly a third in July from an 11-month high in June, ensuring that the world’s second-largest oil consumer continues to meet the terms of a waiver from the United States on financial sanctions.
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Noble Will Target US Agriculture Assets to Supply China
Bloomberg
By Michelle Yun and Susan Li – 2012-08-21T08:25:31Z. Noble Group Ltd. (NOBL), Asia’s biggest publicly traded commodity supplier, will target agricultural assets in the U.S. as it seeks to meet demand from China and sees potential for deals across its
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Russia, China warn US against military intervention in Syria
Examiner.com
President Obama told the White House press corp on Monday he had refrained “at this point” from ordering military action against the Assad regime in Syria, but that could change if he felt there was a need to secure Syrian chemical and biological weapons.
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Citigroup Issues Sole-Brand China Credit Card as Rules Ease
Bloomberg
China will probably overtake the U.S. as the largest market for cards by 2020, with about 900 million, according to a MasterCard forecast from September 2010. Payment processors such as MasterCard and Visa won partial support last month from World
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China, Singapore wealth funds invest $1 bln in US LNG export plant-source
Reuters
HONG KONG, Aug 21 (Reuters) – The sovereign wealth funds of China and Singapore have invested a combined $1 billion in a U.S. plant that will export cheap liquefied natural gas (LNG) to Asia, a source said, becoming the latest Asian institutions to tap
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How Will China Employ Its Factory Workers After the Robots Come Online?
Huffington Post
In fact, there are good reasons to believe that manufacturing employment’s downward slope will be significantly steeper for China. The U.S. had to invent the technology to make manufacturing more productive, while in many cases China only needs to
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Asia-Pacific Oil Drillers in U.S. Gulf Seen With BP Sale
Bloomberg
Cnooc Ltd. (883), the publicly traded unit of China’s offshore oil explorer, is poised to become the first Chinese operator of deep-water U.S. oil assets, pending government approval of its $15.1 billion takeover of Canada’s Nexen Inc. (NXY) Cnooc has
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China’s Growing Role in US Infrastructure
ThomasNet Industrial News Room
In March, the trade group Alliance for American Manufacturing (AAM) launched a campaign to block Chinese firms from U.S. infrastructure projects. Scott Paul, executive director of AAM, told IndustryWeek that “There is a capacity to do this work in the
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Chinese, US universities ink cooperation deal
China Daily
HOUSTON – Chongqing Normal University of China and the ChinaUS Center at the United States’ Rice University have agreed to strengthen their academic cooperation over the next five years. The two sides signed a memorandum of understanding here
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NKoreans talk shop with foreigners at trade fair
U.S. News & World Report
RASON, North Korea (AP) — Fleets of shiny minivans, Chinese-made bulldozers and dump trucks festooned with red ribbons fill the plaza while toys, clothes and even probiotics digestive capsules are displayed inside an exhibition hall. Follow U.S
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High level Chinese military delegation to visit U.S.
Examiner.com
The delegation is lead by the Deputy Chief of the General Staff of the Peoples Liberation Army Cai Yingting (see article: Chinese military delegation visits US http://www.chinadaily.com.cn/china/2012-08/21/content_15693457.htm ). This is the second
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China’s patent targets mask weak innovation: study
Reuters
BEIJING (Reuters) – China’s ambitious drive to produce millions of new patents in the next few years as part of a switch from a “made in China” to “designed in China” economic model will curtail innovation standards, a European study warned on Tuesday.
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US should cease to stoke tensions over Diaoyu Islands
Xinhua
21 (Xinhua) — As tensions between China and Japan over the Diaoyu Islands have been gravely heightened by Tokyo’s egregious provocations, it is advisable that the United States not fan the flame in the region. On Tuesday, Japanese forces join U.S.
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US law firms offers services to help Chinese company sue Facebook
ZDNet
Screenshot by Liu Jiayi. A Chinese Internet startup company planning to sue Facebook for intellectual property infringement has been been offered legal services from several U.S. law firms, according to its CEO and founder. Lifeix China was founded in
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Outside View: Chinese judges play pre-scripted ‘Clue’?
UPI.com
HERNDON, Va., Aug. 21 (UPI) — In the make-believe world of television, writers of crime dramas demonstrate a talent for incorporating, within the confines of a one-hour show, the entire program’s story – the commission of the crime, building the case
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Time for US to help Japan, South Korea to get along
CNN (blog)
Nor has it sent warships into nearby waters or turned a blind eye to (if not encouraged) activists to land there, as China does periodically in the Senkaku/Diaoyu islands (which Tokyo administers and Beijing claims in the East China Sea). At least, not
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Reviled in US, Buick Minivan an Unlikely Hit in China
Businessweek
If it’s surprising that China’s business elite prefer these big, boxy models to luxury sedans, it’s perhaps more striking that GM’s Buick GL8 is the hands-down leader. The Detroit-based automaker did so poorly in minivans that it quit making them in
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KKR buys into Novo, bets on China youth apparel market
Chicago Tribune
Its previous China investments also bet on the nation’s rapid consumption growth and include casual men’s retailer China Outfitters Holdings Ltd and China’s largest cord blood storage company, U.S. listed China Cord Blood . Novo, founded in 2004 by
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Citigroup Becomes First US Bank to Issue Own Card in China
Businessweek
The cards will be denominated in yuan or dollars and accepted worldwide, the third-largest U.S. lender by assets said today in an e-mailed statement. China UnionPay, the nation’s largest electronic-payment network, will process payments within China
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Noble Will Target US Agriculture Assets to Supply China
Businessweek
Noble Group Ltd. (NOBL), Asia’s biggest publicly traded commodity supplier, will target agricultural assets in the U.S. as it seeks to meet demand from China and sees potential for deals across its units. “It’s hard to be the supplier and partner of
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Veterinarian House Calls: A Growing US Trend
Huffington Post
2006 in the outskirts of Xian of Shaanxi Province, China. The animal shelter, established by Chinese animal lover Dai Shuqing, is located at an abandoned warehouse which houses some 100 dogs and costs over 2000 yuan (about US $255) per month.
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Commodities Headed for Bull Market as U.S. Drought Withers Crops
San Francisco Chronicle
21 (Bloomberg) — Commodities are poised to enter a bull market led by surging grain futures amid the worst U.S. drought in half a century and on mounting optimism growth in the U.S. and stimulus from China will boost demand. The Standard & Poor’s GSCI
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Jiang’s $310000 at ICBC Compares to Dimon’s $23 Million
Businessweek
(JPM) pays Jamie Dimon $1.21 million for every $1 billion of profit at the biggest U.S. bank. Industrial & Commercial Bank of China (601398) Ltd., the world’s most profitable, gives its top executive $9400. That pay-to-performance gap is set to widen
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Asian Stocks Advance as China Moves to Ease Cash Crunch
Businessweek
Asian stocks rose, with the regional benchmark index heading for a three-month high, as China moved to alleviate a cash crunch and ahead of U.S. reports that are expected to show the world’s biggest economy is improving. Taiwan Semiconductor
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New York Times backs reckless US intervention in South China Sea
World Socialist Web Site
As for the Obama administration, the Times presents its intervention into these disputes as guided by the purest of motives. “The United States is worried, and rightly so,” the newspaper declared, adding that it had to ignore China’s outbursts, “and
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China’s Economy Still ‘Flying’: Mark Mobius
CNBC.com
Faltering demand from China’s two biggest customers – the European Union and U.S. – caused Chinese exports to post just one percent growth in July from a year earlier, the poorest showing since January, when exports fell. A Reuters poll had expected
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USChina rivalry over Africa
Korea Times
Africa has become a major theater in the global rivalry between China and the United States. This was evident during Hillary Clinton’s visit to the continent, during which she spread the message of democracy and warned Africans against unnamed
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Shell plans to invest US$1B a year in Chinese shale gas
National Post
BEIJING — Royal Dutch Shell plans to spend at least US$1- billion a year exploiting China’s potentially vast resources of shale gas, the firm’s top China executive said, part of an aggressive strategy to expand in the world’s biggest energy market
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BOJ official sees China “in danger zone” for facing financial crisis
Reuters
TOKYO (Reuters) – The combination of a property price bubble, demographic changes and rapid loan growth heightens the chance a country will face a financial crisis, a Bank of Japan deputy governor said on Tuesday, warning that China is now entering a
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Will Yuan’s Decline Reignite Trade Tensions With the US?
CNBC.com
Mitt Romney, the U.S. Republican presidential candidate, has dragged in the issue in the race for the White House, declaring to voters that the U.S. will adopt a tougher stance and accuse China of currency manipulation. Frank Lavin, former Under
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Most US Stocks Climb on Optimism Over European Progress
Businessweek
Most U.S. stocks rose, sending the Standard & Poor’s 500 Index to a four-year high, while the euro gained and commodities headed for a bull market amid speculation leaders will make progress on Greece’s debt crisis. Irish benchmark yields reached the
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China and Japan are stirring up an old animosity
The Guardian
When China’s climb out of the economic trough began in the 1990s, the US was the world’s biggest power, Japan the second biggest economy, and the Soviet empire recently deceased. Today, China is the world’s second largest economy, Japan has
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China Urges U.S. to Remove Stimulus for Renewable-Power Industry
Bloomberg
China started an investigation into U.S. stimulus measures in states including Washington, Massachusetts, Ohio and California in November. The original complaint was filed by the China Chamber of Commerce for Import and Export of Machinery and
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US Could Lead in Wave Power, But China Does…For Now
CleanTechnica
The U.S. has yet to deploy a fully commercial-scale wave power plant, while China is already planning for the installation of its second, third, and fourth wave power plants from SDE, an Israeli company. When they are all completed, SDE will have a
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Soybeans Top $17 for First Time on US Exports Demand
Businessweek
as the worst U.S. drought in half a century damaged crops and threatened to cut global inventories already eroded by last season’s dry weather in South America. Prices at all-time highs will raise costs for importers including China, the world’s
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KKR buys into Novo, bets on China youth apparel market
Reuters
HONG KONG (Reuters) – Global buyout fund KKR & Co L.P. (KKR.N) has placed a bet on China’s $38 billion youth apparel retail market, saying on Wednesday that it will acquire a stake in privately held retailer Novo Holdco Ltd for $30 million. China’s
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Spain still dreams of mega-casino despite US probes
Reuters
Regulators in the state of Nevada are investigating if Las Vegas Sands broke bribery laws in China, two sources said earlier this month. That follows two existing probes by the U.S. Department of Justice and the Securities and Exchange Commission.
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Chongqing plans US$240bn in investment
Taipei Times
A major Chinese city has announced plans for more than US$235 billion in industrial investments, adding to local spending initiatives that analysts say should help to reverse China’s economic slowdown. The government of Chongqing, a major industrial
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