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U.S. China News 2012.08.30

Thu, August 30, 2012

US defense sec’y to visit China soon amid disputes
Huffington Post
BEIJING — U.S. Defense Secretary Leon Panetta will make his first visit to China as Pentagon chief in a couple of weeks at a time when the nations are increasingly at odds over how Beijing should resolve its territorial disputes. Chinese Defense
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China in focus as Clinton heads to South Pacific
U.S. News & World Report
WASHINGTON (AP) — Secretary of State Hillary Rodham Clinton will try to reassert American interests in the Asia-Pacific region in the face of China’s growing influence as she kicks off a six-nation trip that will take her from the South Pacific to
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Ex-US guard in China pleads guilty in secrets case
The Associated Press
WASHINGTON (AP) — A former security guard at the construction site of a new U.S. consulate compound in Guangzhou, China pleaded guilty Thursday to trying to sell secret photos and other secret information about restricted areas inside the facility to
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How the US can out-invest China in Africa
Christian Science Monitor
China recently surpassed the US as Africa’s largest trading partner, but African countries are also growing wary of Chinese investment. This presents an opportunity for US businesses. To take advantage, US diplomats must become more effective advocates
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More US firms may shift some business from China to ASEAN
Reuters
SINGAPORE (Reuters) – A growing number of U.S. companies plan to shift some operations from China to Southeast Asia in the next two years as confidence in countries such as the Philippines improves, a survey by the American Chamber of Commerce in
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China smartphone market to overtake US in 2012: research firm
Reuters
NEW YORK (Reuters) – China will overtake the United States as the world’s biggest smartphone market this year, according to research firm IDC, which expects demand to grow for lower-priced smartphones based on Google Inc’s Android software.
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China buys 50 Airbus jets during Merkel visit
Reuters
BEIJING (Reuters) – China signed an agreement with Germany for 50 Airbus planes worth up to $4 billion during Chancellor Angela Merkel’s visit to Beijing on Thursday, the first significant order since a dispute between Beijing and Europe over emissions
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ChinaUS relations pioneer praised in Beijing meeting
Xinhua
With Oregon having established the first Confucius Classroom program in the United States in 2008, Liu praised Oregon’s pioneering role in ChinaUnited States cooperation at a local level. Sino-U.S. relations have surged despite ups and downs in
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Goodman and CPPIB Increase Commitment to China Partnership to US$1 billion
Sacramento Bee
SYDNEY, Aug. 29, 2012 — /PRNewswire-Asia/ — Goodman Group (Goodman or Group) and Canada Pension Plan Investment Board (CPPIB) are pleased to announce that they have increased their equity allocation to Goodman China Logistics Holding
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Commentary: US should stop playing double game
Xinhua
BEIJING, Aug. 30 (Xinhua) — An awkward moment was seen Tuesday when a U.S. State Department spokeswoman shunned a question from a Xinhua reporter regarding the territorial belonging of the Diaoyu Islands. At a regular briefing, Victoria Nuland
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China’s Response to the US Political Conventions? Big Yawn
TIME
As the American political convention season chugs along, what has been the response in China, a country that reliably emerges as a whipping boy for both political parties during U.S. electoral campaigns? So far in the People’s Republic, the 2012 U.S.
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Copper snaps losing streak as China supports euro zone
Reuters
LONDON/SHANGHAI (Reuters) – Copper broke a three-day losing streak on Thursday after the Chinese premier voiced confidence in the euro zone, but investors were cautious ahead of the Jackson Hole meeting expected to give signals about further U.S.
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Total value of loans from Chinese banks into the US has reached $51 billion
Catholic Online
China’s top banks have increased their lending activities in the U.S. as companies here begin to diversify their funding sources, seeking to penetrate more deeply into the world’s second-largest economy. The fresh round of lending by Chinese banks
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ZTE to testify in US probe of alleged China telecom threat
Reuters
US House Intelligence Committee is investigating ZTE, Huawei. * Panel could hold hearing as early as second week of September. * Panel exploring companies’ relationships with Chinese authorities. By Jim Wolf and Lee Chyen Yee. WASHINGTON/HONG
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China Life’s 1H12 Disappoints – Analyst Blog
NASDAQ
Yesterday, China Life Insurance Co. Ltd. ( LFC ) reported its 2012 interim results. The company witnessed operating earnings of RMB0.34 per share (81 cents per ADR) in the first half of 2012, witnessing a plunge of 26.1% from RMB0.46 per share (US$1.05
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What if China Stumbles?
The Moderate Voice
As a result investment spending in China has recently approached 50% of its GDP (this compares with about 15% on average in the US). Much of that investment has been in the form of apartment buildings sprouting up across cities throughout China.
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China Sunergy cuts shipment outlook on weak demand
Reuters
(Reuters) – China Sunergy Co Ltd (CSUN.O) forecast a loss for the third quarter and cut its full-year shipment outlook after reporting its fifth straight quarterly loss on a sharp drop in selling prices of solar panels. The company said weak demand and
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US probes Chinese banks on Iran business: report
AFP
WASHINGTON — US justice authorities are broadly probing Chinese banks over their business with Iran, The New York Times reported Thursday, after one Chinese bank was hit with sanctions in late July. The authorities have extended investigations of
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US soybean industry finding China success
Western Farm Press
When a group of U.S. soybean farmers stepped off a plane in China last month, they anticipated a celebration of 30 years of partnership. What they got, however, was a whole lot more. The work of the soy checkoff through the United Soybean Board (USB)
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Breakingviews: Death of “Made in China” is greatly exaggerated
Reuters
(The author is a Reuters Breakingviews columnist. The opinions expressed are his own). By Wei Gu. (Reuters Breakingviews) – Manufacturing in China is alive and well. Sneaker maker Adidas’ decision to close its last factory in the country last July
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Romney’s China-Bashing
CounterPunch
China-bashing is underpinned by a broad American unease with the rise of China, an autocratic, independent power that, unlike erstwhile Asian bigshot Japan, is manifestly unwilling to submit itself to US military and economic tutelage. This insecurity
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Vietnam’s Sino-US dilemma
The Nation
In Hugh White’s latest book, “The China Choice: Why America Should Share Power”, the Australian professor argues that, for the sake of regional peace, the United States and China should carve up Asia between them. In particular, the US should consider
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China’s Stocks Head for Fourth Monthly Loss as Earnings Falter
Businessweek
China’s stocks fell, dragging the benchmark index down for a fourth straight month, after companies from China Cosco Holdings Co. (601919) to China Shipping Container Lines Co. reported first-half losses. China Cosco, the world’s largest operator of
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‘Ignorant’ Romney Policies Will Result in ‘Direct Confrontation’ (China Daily
The Moderate Voice
Beijing either doesn’t know that expressing criticism of a U.S. presidential nominee is likely to help him win – or it knows and is intentionally doing so. This editorial from China’s state-controlled China Daily asserts that Republican Presidential
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US now probing Chinese banks on Iran business
NDTV
The authorities have extended investigations of British banks HSBC and Standard Chartered to search for information on Chinese banks’ relationships with Iran that might have violated US sanctions, The New York Times reported on Thursday. The probes
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Chinese Military Official Meets US Pacific…
defpro
13:48 GMT, August 30, 2012 WASHINGTON | A high-ranking Chinese military official met with U.S. Pacific Commander Adm. Samuel J. Locklear III in Hawaii on Tuesday, discussing ChinaU.S. military ties and other issues of common concern. Cai Yingting
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Taiwan must be ‘wise’ on China, Lung says in US
Taipei Times
Taiwan must deal with its fears of China in a “wise and positive way,” Minister of Culture Lung Ying-tai (龍應台) said in a wide-ranging address to the National Press Club in Washington on Wednesday. She announced new ties with major US cultural
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Nixon-Whitlam tapes shed light on current Australian rifts over USChina conflict
World Socialist Web Site
That alignment, which includes the basing of US Marines in northern Australia, and the hosting of other American military facilities, places Australia in the front-line of any war by the US against China. In the original essay, as published in the
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China’s Li survives lapse to reach US Open round three
Yahoo! Sports
NEW YORK (Reuters) – China‘s Li Na recovered from a mid-match lapse on Wednesday to beat Australian Casey Dellacqua 6-4 6-4 and reach the third round of the U.S. Open. The ninth seed, who has never been past the quarter-finals in New York,
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Chinese firms plan to spend US$8.6b on Indonesia smelters
The Malaysian Insider
JAKARTA, Aug 30 – Chinese firms plan to invest US$8.6 billion (RM26.88 billion) on aluminium and iron smelter projects in Indonesia, the industry minister said today, in a bid to guarantee supplies of metals under threat from a ban on exports of
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John Rutledge: China Slowing, Not Collapsing
CNBC.com (blog)
“The fact is it’s growing slower than it was,” he said on “Fast Money.” “It’s not collapsing or crashing, but the rest of the world pretty much is. We’ve got big problems in Europe. The U.S. is growing, but slowly. So China’s the only story in town
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Chinese-born American sentenced to 4 years in prison for stealing trade
Greenfield Daily Reporter
CHICAGO — A federal judge sentenced a Chinese-born American Wednesday to four years in prison for stealing millions of dollars in trade secrets from Motorola, describing her as a soft-spoken, unassuming woman who carried out a “very purposeful raid”
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Focus Media: China’s First Big LBO Deal Is A Head-Scratcher
Seeking Alpha
If the goal is to try to arbitrage valuation differences between the US and Chinese stock markets, this deal isn’t likely to pan out. It’s not only that Focus Media will have a tough time convincing China’s securities regulator, the CSRC, to allow it
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Visa: US lists Nigeria, Brazil, China as priority nations
BusinessDay
The U.S has listed Nigeria, Brazil and China as priority nations on its visa application following a surge in consular demands, Patty Neary, a consular officer, said on Wednesday. Neary told newsmen in Abuja at the country’s embassy weekly briefing
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Foreign Journalists See US Democracy in Action at Conventions
Voice of America
Tan writes for the English-language China Daily newspaper and is focusing her coverage on foreign policy issues and ChinaU.S. relations. This is her first time covering a U.S. political convention. “It’s quite a unique experience for me, because I
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Egypt joins China club
Asia Times Online
The Muslim Brotherhood leader has sent a clear message by selecting China for his first state visit outside the Middle East. By forging closer ties with China, Morsi is warning the US government not to take Egyptian acquiescence for granted.
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ZTE to testify in US probe of alleged China telecom threat
WTAQ
WASHINGTON/HONG KONG (Reuters) – China’s ZTE Corp said it would take part in a projected U.S. congressional hearing next month linked to an investigation of alleged Chinese espionage threats to U.S. telecommunications infrastructure. The House of
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FACT CHECK: Ryan takes factual shortcuts in speech
Austin News
Rob Portman, a former U.S. trade representative, glossed over his own problems when critiquing Obama’s trade dealings with China. A day earlier, the convention’s keynote speaker, New Jersey Gov. Chris Christie, bucked reality in promising that GOP
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Chinese Firms Warm to Private Equity
Wall Street Journal
Companies are finding it harder to go public on the stock market, and some of those listed in the U.S. have been hit by concerns about corporate governance. Moreover, as China’s growth slows, companies have become more open to deals that offer
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Clinton to hoist US flag in Asia, to China’s unease
AFP
WASHINGTON — US Secretary of State Hillary Clinton sets off Thursday on a sweeping Asia tour from a rising China to tiny island states as her outspoken role on the region’s hotspots raises hackles in Beijing. In the midst of a US presidential campaign
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Ford Seeks Growth In China With Its Lincoln Brand
Seeking Alpha
China’s luxury car market is expected to pass the American luxury car market to become the largest in the world by the end of the decade. This is why there is a lot of competition amongst the luxury car brands for the Chinese market. This is also
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Updates, advisories and surprises
MarketWatch
(US:JIXAY)gave up 2.1% after reporting its first-half profit fell almost 40% as copper prices weakened. Agricultural Bank of China Ltd. shares(US:ACGBF)gave up 1.7% despite posting a more than 20% rise in first-half profit, with Dow Jones Newswires
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Thomas: US remains firm in commitment to defense treaty, re-pivot to Asia
Inquirer.net
MANILA, Philippines – United States Ambassador to the Philippines Harry Thomas Jr. on Wednesday said that amid countries’ territorial disputes over areas in the West Philippine Sea (South China Sea), the US would remain firm to its commitment under its
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Chinese Firms Warm to Private Equity
Wall Street Journal (blog)
Indeed, with a record $3.5 billion offer for U.S.-listed Focus Media Holding Ltd. from Carlyle Group L.P among others, this is turning into the busiest year ever for buyouts in China, measured by value. To be sure, deals that offer the buyer control
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