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U.S. China News 2012.08.24

Fri, August 24, 2012

US: Missile defense for NKorea threat, not China
U.S. News & World Report
By MATTHEW PENNINGTON, Associated Press. WASHINGTON (AP) — The United States is in discussions with close ally Japan about expanding a missile defense system in Asia, the top U.S. general said Thursday. Gen. Martin Dempsey, chairman of the
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Much at stake for US as tensions rise in troubled China Seas
NBCNews.com (blog)
Vast oil reserves, trillion-dollar trade routes, fervent nationalist sentiments, competing territorial claims and bitter histories – the waters off the east coast of China are a sea of money and a sea of trouble. Tensions have been rising for several
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Apple share of China smartphone mkt almost halved in Q2 – IDC
Reuters
China, Apple’s second-largest market, is set to overtake the United States as the world’s biggest smartphone market this year, with demand driven by generous handset subsidies offered by the three main carriers, increasingly tech-savvy consumers and
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Egypt’s outreach to China and Iran is troubling for US policy
Los Angeles Times
From China, Morsi will travel to Tehran to attend the Non-Aligned Movement summit. Just two months after coming to power, Morsi is pursuing a rapprochement with Tehran and articulating a newfound ambition to jettison billions in U.S. foreign assistance
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Asian Stocks Drop, Paring Weekly Gain, on Europe Crisis
Bloomberg
Asian stocks fell, with the region’s benchmark index retreating from the highest level since May, on signs of slower growth in the U.S. and China and amid concern Europe’s leaders aren’t making progress on the debt crisis. Nissan Motor Co., a carmaker
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Just in Time for the U.S. Election: More China Bashing from the Left
Business Insider
The Economic Policy Institute, an American pro-labor think tank, has a new report out on USChina trade and manufacturing job losses. If you’re a politician looking to bolster your populist, China bashing stump speech going into the fall campaign
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Behind the US, China rhetoric
The Desert Sun
WASHINGTON — While U.S. presidential candidates talk tough about what they see as China’s unfair trade policies, one fact gets little notice: Chinese companies are investing more than ever in the U.S. and supporting thousands of American jobs. With
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Asian markets fall on signs of fading growth
U.S. News & World Report
Economic indicators from the United States, China and Europe have been consistently downbeat this week. The job market in the U.S. is struggling to recover, weighing on consumer spending, one of the world’s main drivers of growth. The other such driver
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Exclusive: North Korean leader seeks trip to China for economic help
Reuters
With the U.S. presidential election and Chinese leadership change this year, Pyongyang has little leverage beyond its nuclear threat, analysts say. But they add that Beijing cannot give up on Pyongang, which acts as a buffer to U.S. ally South Korea
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China is Important Campaign Issue for Obama, Romney
Voice of America
While Friedberg acknowledged that both the U.S. and China would benefit from a healthy bilateral relationship, he accused Washington of engaging in “diplomatic happy talk” that exaggerated the accomplishments of the administration’s efforts to promote
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Euro zone headed for recession, China, US struggle
Daily Star Online
Euro zone headed for recession, China, US struggle. An employee checks on a steel product at a steel production factory in Wuhan, Hubei province, August 2, 2012. Photo: ReutersReuters, New York/London. World business surveys on Thursday painted a
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Yingli Leads Solar Makers’ Slump as Sohu Gains: China Overnight
Businessweek
Yingli Green Energy Holding Co. (YGE) led declines in Chinese solar makers in New York before reporting second-quarter figures that may show a fourth straight quarter of losses. Sohu.com Inc. (SOHU) rose after Citron Research said the Internet company
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US: Missile defense for NKorea threat, not China
The Associated Press
US: Missile defense for NKorea threat, not China. By MATTHEW PENNINGTON, Associated Press – 1 minute ago. WASHINGTON (AP) — The United States is in discussions with close ally Japan about expanding a missile defense system in Asia, the top U.S.
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Rand Falls for Second Day as Metals Retreat on China Data, US
Businessweek
The rand weakened for a second day as commodities declined after China’s manufacturing industry shrank and a rise in U.S. jobless claims increased speculation that the Federal Reserve will stimulate economic growth. South Africa’s currency declined as
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China’s Stocks Fall to Lowest Since March 2009 on Profit Concern
Businessweek
China’s stocks fell, dragging down the benchmark index to the lowest level since March 2009, after companies from Maanshan Iron & Steel (323) Co. to Shanxi Coal International Energy Group Co. reported weaker earnings. Maanshan Iron dropped to a
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Beneficiation – the US, China and Europe
Mmegi Online
There was perhaps no more pointed a rebuke to Chinese investment policy in Africa than that given by US Secretary of State Hillary Clinton in her visit last week to South Africa when she told reporters after meeting South African International
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Column: The great Sino-American divorce
Reuters
On the one hand, China is hedging against the dollar by investing in companies and assets outside the U.S. On the other hand, Beijing is bracing itself for slower growth, while looking for substitutes for exports and fixed investment. There is an
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China-bashing hides its US investments
The Tennessean
Pin Ni, president of Wanxiang America Inc., is shown at his warehouse in Elgin, Ill. The private Wanxiang Group is an auto parts and renewable energy manufacturer that has close to 6,000 employees in the U.S. / Nam Y. Huh / Associated Press
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Panda pregnancy at National Zoo in Washington?
CBS News
(CBS News) It’s been 40 years since China sent the first pair of Pandas to the U.S. as a way to warm international relations between the two countries. All eyes have turned to a pair of pandas at the Smithsonian National Zoo in Washington where
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For ChineseAmerican Adoptees, Matters Of Identity
NPR
Of the roughly 80,000 Chinese children adopted in the United States since 1979, almost all are girls, abandoned at birth by their parents because of China’s one-child policy, coupled with inheritance laws that favor boys. Waiting for them at this end
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The Next Battlefield Looks Like It’ll Be The South China Sea As Tensions Rise
Business Insider
Tensions are rising again in Southeast Asia as competing claims over the resource rich South China Sea push closer to boiling point. In the latest series of provocations, China launched “combat-ready” patrols, offered disputed ocean blocs for sale and
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China Mobile to take stake in voice-recognition firm iFlytek
CNET (blog)
According to Bloomberg, China Mobile has agreed to purchase a 1.36 billion yuan (US$214 million) stake in Anhui USTC iFlytek Co–we’ll just call it iFlytek for short. The investment would give the telephone giant a 15 percent stake in the company and
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In Unsettling Development for Washington, Venezuela Ramps Up China Oil
Huffington Post
During a recent interview, Oil Minister Rafael Ramirez said, “We are selling 640.000 barrels of petrol per day to China.” This is now equivalent to 2/3 of Venezuela’s oil exports to the U.S., up from 400,000 barrels per day in February. For those with
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EMERGING MARKETS-Latam stocks slip on China, Fed comments
Reuters
China is Brazil’s No. 1 trading partner and a key purchaser of Latin American commodities exports such as iron ore, soy, petroleum and copper. “I do not see China reversing this situation anytime soon,” Rosa added. “The third quarter will still be weak
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US Drought To Fuel China Pork Prices, Inflation – Macquarie
NASDAQ
BEIJING–Global agriculture price increases driven by the ongoing U.S. drought are likely to put upward pressure on China’s pork prices and consequently drive inflation higher over the next 12 months, a senior Macquarie executive said Friday. The dry
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Commodities Drop With Euro on US Data, Slow Europe Progress
Businessweek
Commodities declined, the euro weakened against the dollar and European stocks headed for the first weekly drop in 12 weeks after disappointing U.S. economic reports amid sluggish progress in fixing Europe’s debt crisis. The S&P GSCI gauge of 24 raw
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Japanese Stocks Decline on US Jobs, Euro Crisis Concern
Businessweek
The Topix has fallen 13 percent from this year’s peak on March 27 on concern earnings will be hurt by Europe’s debt crisis and slowing growth in China and the U.S. The decline has cut the price of shares on the gauge to 0.9 times book value, compared
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New Cold War may break out between US, China, warns daily
TwoCircles.net
Beijing : The Cold War mentality hasn’t disappeared, a state-run Chinese daily said Friday, and warned of “real worries that a new Cold War may break out between China and the US“. An editorial in the Global Times Friday said the Cold War era is long
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My night at the rodeo with China’s cheering elite
gulfnews.com
Watching the bronc riding and steer roping was a break from two days of discussions about everything from the euro crisis and the role of the dollar to USChina rivalry in east Asia and the rupture in the UN Security Council about Syria. Formality
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Storm in China’s Seas
American Spectator
The fact is that Beijing has not invested in a massive naval buildup appropriate at least to nearing equality with the U.S. Pacific Fleet, which has been the post-WW2 “protector” of that part of the world. The prowess of Communist China’s military
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Corn, Soy Yields Shrink in Hottest US Summer Since 1936
Businessweek
China, the world’s largest buyer and consumer, purchased 165,000 metric tons of soybeans and 55,000 tons of soybean oil from the U.S., the USDA reported yesterday. China may import a record 59.5 million tons of soybeans in the year that begins Oct. 1
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US discussing more missile defense in Asia, says it’s against NKorea threat
Washington Post
WASHINGTON — The United States is in discussions with close ally Japan about expanding a missile defense system in Asia, the top U.S. general said Thursday. Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, was commenting on a Wall Street
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China’s Wanxiang sees opportunity in struggling U.S. cleantech
GigaOM
While Wanxiang is not a known name in the U.S., it’s one of China’s largest industrial parts makers and it’s making very aggressive bets on U.S. cleantech startups, some of which have been struggling. Wanxiang headquarters photo: Courtesy of Wanxiang
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IDC: Apple’s China iPhone almost halves in Q2
ZDNet
China-based Lenovo, currently the world’s second-largest PC maker — though soon to be the market leader in a matter of weeks — managed to snap 11 percent in China during the second quarter. While its share only increased by a single point in the
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‘Food Will Cost More’ Due to US Drought
LoanSafe
Huang Guiheng, manager of Bric Global Agricultural Consultants, added that the US drought has already driven up domestic soybean prices significantly, as half of China’s annual soybean imports are from the US. The price of imported soybeans rose from
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Caterpillar Cuts China Production as Digger Slump Reaches Mining
Bloomberg
“The current sales level in China is quite depressed,” he said according to a transcript. “We ended up with more inventory in China than we needed and it’s probably going to take us the rest of the year to work it down.” Caterpillar has dropped 3.3
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US’s strategic soft corner for China
Jagran Post
The US strategy in Asia for more than a century has been geared to prevent the rise of any hegemonic power through a stable balance of power. Yet the United States is also committed to accommodate “the emergence of a China that is peaceful and
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