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U.S. China News 2012.08.31

Fri, August 31, 2012

Clinton to Cook Islands: US cares (more than China)
Christian Science Monitor
Never before has such a high-ranking US diplomat attended such a meeting; even against the background of China’s growing ties in the South Pacific and Washington’s strategic “pivot to Asia,” the visit has taken some regional observers by surprise.
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China welcomes WTO ruling on ChinaUS e-payment dispute
Xinhua
BEIJING, Aug. 31 (Xinhua) — The Ministry of Commerce (MOC) on Friday welcomed a ruling by a World Trade Organization (WTO) dispute panel rejecting part of the accusations made by the United States against China’s handling of electronic payments.
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Merkel seeks Chinese concessions in solar row
Reuters
TIANJIN, China (Reuters) – Chancellor Angela Merkel said on Friday that Germany had no interest in starting a trade war with Beijing over solar exports to Europe, but stressed that China must take action to address distortions to fair competition in
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RPT-FEATURE-US Senator Reid, son combine for China firm’s desert plant
Reuters
Harry Reid, son Rory, involved in Chinese solar project. * Reid led nine other senators in 2011 tour of China plant. * Son represents Chinese company in Nevada. By Marcus Stern. WASHINGTON, Aug 31 (Reuters) – U.S. Senator Harry Reid recognized nine
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Yo, Mitt, Borrowing Money From China Is Good for America, Not Bad
U.S. News & World Report (blog)
In his acceptance speech at the Republican National Convention, Romney singled out U.S. government debt held by China as an alarming sign of national decline. “Does the America we want borrow a trillion dollars from China?” Romney asked rhetorically
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Americans Remain Divided on China Trade Issue
Voice of America
LOS ANGELES — In this election year, both U.S. presidential candidates are making China, and trade, an issue. With the unemployment rate above 8 percent, some Americans blame China for the loss of factory jobs. But other Americans say trade with China
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China’s ICBC says profit up 12.5 percent
NBCNews.com
BEIJING — Industrial & Commercial Bank of China Ltd., the country’s biggest state-owned commercial lender, says its first-half profit rose 12.5 percent despite a slowing economy. ICBC said it earned 123.2 billion yuan ($19.6 billion), or 0.35 yuan (5
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China dissident jailed on Yahoo info is freed
U.S. News & World Report
BEIJING (AP) — A Chinese dissident imprisoned for 10 years on a state subversion conviction supported by evidence from Web portal Yahoo was released early Friday after completing his term, his wife said. The American Internet company drew strong
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China’s Art Bubble May Be Popping
CNBC.com (blog)
Last year, China surpassed the United States to become the world’s largest art market, according to some estimates. Now, that’s changing. According to data from ArtTactic, the British art-market research firm, auction sales this spring fell to $1.5
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US Senator Reid, son combine for China firm’s desert plant
Reuters
WASHINGTON (Reuters) – U.S. Senator Harry Reid recognized nine years ago that connections between his official duties and the lobbying activities of his relatives could lead to ethical questions. In 2003, the Nevada Democrat publicly banned relatives
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US raps China over repatriation of Myanmar refugees
Times of India
WASHINGTON: The United States on Thursday criticized China after accusations that it forced thousands of refugees from Myanmar’s Kachin minority back across the border despite ongoing fighting. “We indeed remain concerned about the welfare of
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Insight: Does China’s next leader have a soft spot for Tibet?
Reuters
BEIJING/DHARAMSALA (Reuters) – For decades, Beijing has maintained that the Dalai Lama is a separatist, but Tibet’s exiled spiritual leader once had a special relationship with the father of Xi Jinping, the man in line to become China’s next president.
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Clinton in South Pacific with China in mind at start of 6-nation Asia tour
Washington Post
RAROTONGA, Cook Islands — U.S. Secretary of State Hillary Rodham Clinton arrived Thursday in the South Pacific at the top of a six-nation Asia tour during which she aims to reassert American interests in the face of China’s growing influence and calm
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Canada Cozies Up to China
The National Interest Online
There are incentives for Canada, which can restore export stability and diversify the source of its overseas profits by pursuing relationships with China. U.S. critics of Canada’s flirtations with China, such as Senator Charles Schumer (D-NY), have
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ALTe, U.S. Electric Drive Train Maker, Forms JV in China
Greentech Media
They’re joined by domestic giants like BAIC, First Automotive Works (FAW) and Dongfeng, along with Chinese startup BYD, which is backed by U.S. billionaire investor Warren Buffett. Meanwhile, Los Angeles-based startup Coda Automotive is building
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As lure of China’s cheap labor dims, more jobs may be returning to U.S.
Delta Farm Press (blog)
Over the past several decades, many industries — from textiles to furniture to shoes, you name it — that were once the bedrock of thousands of U.S. communities, many in rural areas, have gone overseas, leaving a giant hole in a thriving economy that
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Ford to Introduce Lincoln in China – Analyst Blog
NASDAQ
( F ) plans to introduce its Lincoln luxury lineup in China’s booming luxury vehicles market in order to beat its rival market leaders including General Motors Company ( GM ) and Volkswagen AG ( VLKAY ). The automaker will start courting interested
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China Eastern 1H profit down 65 pct on slowdown
NBCNews.com
“The air transportation market is subject to further lackluster demand arising from the European debt crisis and the downturn of the U.S. economy, plus the reduced demand from traditional export markets in Asia Pacific region and the slowdown in China
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US Consulate Guard Fails at Spying for China, Pleads Guilty
ABC News
A former Marine who was working at a U.S. consulate office in China has pleaded guilty after trying — and failing — to spy for China, the Department of Justice said today. Bryan Underwood, 32, pleaded guilty to one charge for attempting to pass
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China won’t challenge WTO ruling in US bank card row
WTAQ
GENEVA (Reuters) – China has decided not to appeal against a World Trade Organisation ruling that found it had discriminated against U.S. bank card suppliers such as Mastercard Inc and Visa Inc in favour of a state-owned enterprise, China UnionPay.
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US factory orders rose 2.8 percent in July
The Olympian
The worry is that businesses have begun to scale back their plans to expand and modernize in the face of spreading economic weakness in Europe and such major U.S. export markets as China, Brazil and India. Europe’s financial crisis has pushed many
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US guard pleads guilty to trying to pass secrets to China
Reuters
WASHINGTON (Reuters) – A former security guard at a U.S. consulate in China pleaded guilty on Thursday to trying to pass details on the new building’s security systems to a Chinese spy agency, prosecutors said. Bryan Underwood, 32, planned to sell
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USA Still Outpaces Russia And China In Terms Of GDP. Why?
«Market Leader» – news and previews making you rich.
As you know, Gross domestic product (GDP) is the main economic indicator. The USA has been the world’s richest country (in terms of GDP) over the last 70 years. China, India and Russia occupies the 2nd, 3rd, and 6th place correspondingly (the US GDP is
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China playing catch-up to U.S. in online sales
Travel Weekly
By Danny King. Online travel sales in China will almost triple the growth rate of the overall China travel market during the next two years but will account for a far smaller fraction of the market than in the U.S., according to a recent report from
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China plays down rivalry with US in South Pacific
AFP
AVARUA, Cook Islands — China denied it was competing with Washington in the Pacific islands Thursday, as US Secretary of State Hillary Clinton arrived at a regional summit aiming to reassert US influence. In a press conference that coincided with
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China To Overtake US In Smartphone Shipments By End Of 2012: IDC
International Business Times
Thanks to strong end-user demand for lower-priced smartphones, China, the largest market for smartphones this year, will overtake the U.S. as the global leader in smartphone shipments in 2012, according to a new report by IDC. China (People’s Republic
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China to overtake US in smartphone usage thanks to Android, report says
San Jose Mercury News
IDC forecast that China’s share of the smartphone market will increase to 26.5 percent this year from 18.3 percent last year, while U.S. market share declines to 17.8 percent from 21.3 percent. China’s sales will be helped by the availability of
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China Can’t Compete in Solar Either
National Legal and Policy Center
As in Europe and the U.S., the Chinese business has grown only because of cheap money funneled to it via government grants and loans. Mandates to expand renewable energy invited China to unload its low-cost solar panels in the West, and supply greatly
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Smart TVs Fail To Score With Consumers In US And Other Western Markets: GfK
TechCrunch
According to a new report out from consumer researchers GfK, connected TV televisions are faring much better in markets like China, Brazil and India compared to the U.S., UK and other developed markets — with China commanding the highest usage at
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China “Owns” the US: Fact or Fiction?
Heritage.org (blog)
There is a common misconception that China “owns” the U.S by holding the majority of U.S. federal debt. Contrary to this belief, as a region, Asia owns only 20 percent of U.S. federal debt, with China holding less than 10 percent ($1.3 trillion) and
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After A123 Bid By Billionaire Lu Guanqiu, What’s Ahead For Chinese M&A
Forbes
The move by Chinese billionaire Lu Guanqiu’s Wanxiang Group to buy a controlling stake in struggling Massachusetts battery maker A123 Systems this month attracted criticism in the U.S. in part because the Obama administration has provided millions of
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Demand from China, US reviving lumber stocks
Lesprom Network
Moscow. Aug 31, 2012. /Lesprom Network/. West Fraser Timber Co. and Western Forest Products Inc. are leading Canadian lumber producers to the biggest combined profit since 2006 as mills run at five-year highs to feed a U.S. housing rebound and
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BP Official: China’s Shale Gas Development Has Long Way To Go -Xinhua
Fox Business
China’s shale gas reserves’ geological structure is totally different than that of the U.S. and China needs to build more infrastructure facility to transport the shale gas once explored. Also it needs more policy support including a pricing mechanism
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US urges China to protect Myanmar refugees
Fox News
WASHINGTON – The U.S. is urging China to offer temporary protection to ethnic Kachin (ka-CHIN) refugees who have fled conflict in northern Myanmar and not force them back. Human Rights Watch says China recently forced at least 1,000 Kachin to return
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Chinese vessel to make historic first visit to U.S.
Honolulu Star-Advertiser
China’s largest maritime inspection vessel, the Haixun 31, will make a historic first visit to the United States during a port call in Honolulu Tuesday, the U.S. Coast Guard said. The Haixun 31 will be escorted to Aloha Tower at 3 p.m. by a parade of
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US man admits China spy attempt
BBC News
A US man who worked as a guard at a US consulate in China has pleaded guilty to trying to sell secret information to the Chinese government. Bryan Underwood, 32, worked at the consulate in the southern city of Guangzhou between 2009 and 2011. He was
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US Looking into China’s Business With Iran
China Digital Times
Information on how Chinese banks may have routed money on behalf of Iranian banks and corporations is more valuable than any monetary settlement the authorities could win from the global banks, law enforcement officials with knowledge of the cases said
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China Now Using a Cruise Ship to Haul Troops and Tanks
Wired
And not that China’s new cruise ships of war have any chance of matching the United States‘ own massive fleet of commercial transport ships available for military duties. The U.S. has 60 privately owned commercial ships available to be called upon by
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US gasoline a bargain
The Seattle Times
The U.S. ranked 49th of 60 countries with premium gasoline at $3.75 a gallon on July 23, compared with $10.12 in top-ranked Norway. The U.S. price was behind Japan, China and India, a country where people made 2.9 percent of what Americans earn.
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