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U.S. China News 2012.09.10

Mon, September 10, 2012

Japan to buy disputed islands, angering China
U.S. News & World Report
TOKYO (AP) — Japan’s government said Monday it has decided to purchase several disputed islands, prompting China to angrily warn of “serious consequences” if it proceeds with the plan. Chief Cabinet Secretary Osamu Fujimura said Japan will buy the
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NYMEX-Crude down on weak China, US data; curbed by stimulus hopes
Reuters
SEOUL, Sept 10 (Reuters) – U.S. crude futures slipped on Monday in early Asian trade, disappointed at soft Chinese and U.S. economic data, but the fall was braked by expectations of a third round of U.S. monetary stimulus this week and escalating
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METALS-Copper hits 4-month high on US, China stimulus hopes
Reuters
Copper breaks above $8,000/T for first time since May * Chances of QE3 in Sept up after U.S. payrolls data -poll * China August copper imports fall 2.9 pct on month By Maytaal Angel and Harpreet Bhal LONDON, Sept 10 (Reuters) – Copper hit a four-month
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China’s imports shrink in sign downturn worsening
U.S. News & World Report
Analysts expect Chinese growth that fell to a three-year low of 7.6 percent in the latest quarter to rebound late this year or in early 2013. But they say it likely will be too weak to drive a global recovery without improvement in the United States
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US Stock-Index Futures Drop on China Data; AIG Falls
Businessweek
U.S. stock futures declined, indicating the Standard & Poor’s 500 Index will pare last week’s gains, as trade data from China heightened concern the world’s second-largest economy is worsening. American International Group Inc. (AIG) retreated 1.7
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China, US are partners in world economy, says Locke at 16th CIFIT
What’s on Xiamen
Gary Locke, the United States ambassador to China, said the US invites China to play a significant role on the world stage as he met local entrepreneurs at the China International Fair for Investment and Trade in Xiamen on Saturday. He added that he
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Mystery absence of China leader fuels rumor frenzy
U.S. News & World Report
Chinese micro-bloggers and overseas websites have come up with all kinds of speculation as to why the current vice president has gone unseen for more than a week. During that span, Xi canceled meetings with visiting foreign dignitaries including U.S.
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US Stocks Little Changed as Rally Takes a Respite
Wall Street Journal
Shares of materials stocks also advanced. Coal miner Alpha Natural Resources added 3%, while Cliffs Natural Resources gained 2.6%, after a July report from China showed a jump in iron ore imports. Iron ore and metallurgical coal are used in steel making.
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Asian Markets: Lower On China, U.S. Data
NASDAQ
China released a mixed batch of data over the weekend, with inflation accelerating from a 30-month low in August, reducing possibilities of another monetary easing – while a weaker-than-expected industrial output growth put pressure for more stimulus.
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US STOCKS-Dow, S&P flat, Nasdaq slips after hitting 12-yr highs
Reuters
Technology shares were modestly lower after worse-than-expected data from China. Shares of Apple Inc , the world’s largest publicly traded company by market value, lost nearly 1 percent. Expectations for more stimulus measures from the U.S. Federal
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World stock markets sag as US jobs data, China trade show signs of weakness
Newser
The U.S. government reported Friday that 96,000 jobs were created in the U.S. last month, fewer than economists had forecast. The unemployment rate fell to 8.1 percent from 8.3 percent, but only because many people gave up looking for work, so they
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Brent holds above $114 despite soft China demand
Reuters
But markets are hoping growing signs of economic slowdown in China and in the United States will encourage the U.S. Federal Reserve to pump more money into the economy, a move that could help depress the dollar and boost commodities and oil.
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China to raise fuel prices 6-6.5 percent
Reuters
BEIJING (Reuters) – China is raising the retail price of gasoline and diesel by 6 percent and 6.5 percent respectively from Tuesday to track climbing crude prices, the government said, a move that could help pare refining losses at oil firms. The
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China’s yuan posts strongest close against dollar since May
Reuters
SHANGHAI (Reuters) – The central bank fixed a stronger yuan midpoint against the dollar for the third straight trading day, with spot prices posting their strongest close since late May following a dramatic overnight plunge in the dollar index. The
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Copper hits four-month high on US, China stimulus hopes
Reuters
LONDON (Reuters) – Copper hit a four-month high on Monday as hopes for more policy easing in the United States prevailed and as weak copper and other commodity imports in China, coupled with sluggish factory activity, reinforced prospects for more
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Chinese trade surplus hits US$26.7bn
Taipei Times
China’s trade surplus widened to US$26.7 billion last month as imports registered a surprise fall, data showed yesterday, adding to expectations of a new round of stimulus measures. The figures highlight waning strength in the world’s second-largest
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AstraZeneca fast-tracks biotech drug with China JV
Reuters
The experimental treatment for rheumatoid arthritis and other inflammatory diseases, known as MEDI-5117, is already in initial Phase I clinical development in the United States and Europe. The partnership with WuXi will allow similar clinical tests in
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Clinton Advice on Working With China: First Be Yourself
Businessweek
Hillary Clinton has some advice for the next secretary of state on negotiating with Chinese leaders: “You have to be yourself, you have to be America, you have to stand up for American values, interests and security.” In an interview with Bloomberg
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US passenger detained in China for carrying chemicals on board
Hindustan Times
An United States (US) citizen has been detained for carrying and concealing hazardous materials while trying to board a flight from Beijing to Munich, China’s aviation authority said today. A spokesman for the Civil Aviation Administration of China
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Japan-China Territorial Dispute Threatening Economic Relations; US Also
Forbes
That the U.S. has already been drawn into the Japan-China dispute was plainly seen last week in Beijing with China abruptly canceling the scheduled meeting between U.S. Secretary of State Hillary Clinton and China’s soon-to-be new supreme leader,
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Will China’s Economic Slowdown Instigate a Beijing-Driven Repeat Global
The Desert Sun (blog)
But the role of global economic trigger had reached its peak of “American replacement” by China, coincident with the depth of the “Great Recession” (2008-2010). As China grew at a torrid clip from global non-entity to world economic superpower “in
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Oil trades lower on China data, Saudi minister
MarketWatch
“In recent years, China has been mainly responsible for the growth in global oil demand, so there is a risk that demand prognoses will be revised further downwards,” analysts at Commerzbank said in a note to clients. The U.S. Energy Information
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Weak China trade data raises Beijing spending stakes
Reuters
BEIJING (Reuters) – Weak Chinese trade data on Monday underlined the likelihood of more Beijing-backed spending to deal with the damage done to the domestic economy by firms cutting production, inventories and imports in the face of anemic global
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China to Hold Second Shale-Gas Auction Next Month, Ministry Says
Businessweek
China will hold its second auction of shale-gas sites next month as it tries to boost exploration and development of the cleaner-burning fuel. The tender on Oct. 25 will comprise 20 blocks in eight regions, the Ministry of Land and Resources said on
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Most Hong Kong Stocks Climb on Stimulus Bets
Businessweek
China’s President Hu Jintao said the economy faces “notable downward pressure,” signaling the country may add to road and rail projects announced last week. The U.S. Federal Reserve meets this week to discuss whether to expand asset purchases, known
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China’s auto sales growth falls to 3.7 percent
Businessweek
BEIJING (AP) — China’s auto sales growth tumbled to 3.7 percent in August, further deepening an economic slowdown, data showed Monday. Customers bought 1.23 million cars, according to a government-authorized industry group, the China Association of
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Most Japanese Stocks Gain on Global Stimulus Speculation
Businessweek
Komatsu Ltd., the world’s second-biggest construction equipment maker that generates revenue in Japan, the U.S. and China, rose 3.2 percent. Tokyo Electron Ltd. and Nikon Corp., suppliers to Intel Corp. (INTC), lost more than 2.9 percent after the
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China’s Stocks Rise to Highest in Month on Stimulus Speculation
Businessweek
China’s stocks rose to the highest level in almost a month on speculation the government will take steps to boost economic growth after trade data missed estimates and industrial output grew at the slowest pace in three years. Sany Heavy Industry Co.
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Coming-Of-Age Tale for Chinese Cinema
New York Times
China’s moviegoing market is still relatively small — total ticket sales were just over $2 billion last year, compared with the $10 billion spent in the United States — but it is growing fast, by 40 percent every year, according to the State
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FMC China 2012 See You in September
Sacramento Bee
750 exhibitors from China, Hong Kong, Taiwan, Australia, Denmark, Finland, France, Germany, India, Italy, Japan, Korea, Malaysia, Mexico, Netherlands, Singapore, Sweden and the US will participate in FMC China 2012 which is also expected to draw
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Oil prices fall on sour economic news from China
Seattle Post Intelligencer
NEW YORK (AP) — The price of oil fell slightly Monday after an unexpectedly weak economic report from China and warnings of a further slowdown. But the hope of stimulus action by the Federal Reserve on Thursday served as a safety net, preventing the
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Brent climbs above $114 on US stimulus hopes, but gains limited
Reuters
China releases weak factory, energy data on Sunday. TOKYO, Sept 10 (Reuters) – Brent crude futures climbed above $114 a barrel on Monday, but gains were limited as expectations for the U.S. Federal Reserve to launch further stimulus measures offset
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BP to Sell $5.6 B of Gulf of Mexico Assets, China Faces Slowdown
123Jump.com
11:10 AM New York – U.S. indexes traded lower after weaker-than-estimated Chinese economic data. BP agreed to sell its non-strategic Gulf of Mexico assets to Plains Exploration for $5.55 billion. Garda agreed to be acquired by consortium for C$1.1 billion.
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Escalating Tensions in the South China Sea
The National Interest Online
The other standoff is between China and the United States. Since 1992, Beijing has claimed much of the South China Sea as its territorial waters—meaning that foreign ships and aircraft should seek its permission before entering the waterways it claims.
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Rise in China’s Aging Poses Challenge to Beijing
New York Times
“It’s a new road for us, and we are ‘feeling the stones as we cross the river,”’ he said, quoting a Chinese proverb during an interview in his office. This much is certain, experts say: The crunch is coming, and it will be an enormous business opportunity.
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Gold holds near 6-month highs on prospects of US easing
Creamer Media’s Mining Weekly
In other news, Hong Kong’s July gold shipments to China nearly doubled on the year, while exports over the first seven months exceeded total 2011 volumes, suggesting China is well on its way to overtake India as the world’s top gold consumer. Palladium
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Asian Shares Mixed; China Data Offset Stimulus Hopes
Wall Street Journal
Asian markets were mixed Monday as weak Chinese economic data offset rising hopes for stimulus measures from the Federal Reserve following Friday’s weaker-than-expected U.S. jobs data, while Japanese and Korean firms with businesses in China gain
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Asian Shares Mostly Up;China-Linked Cos Up In Tokyo,Seoul
Wall Street Journal
Asian markets were mostly higher Monday with investors balancing mixed Chinese economic data against rising hopes for stimulus measures from the Federal Reserve following Friday’s weaker-than-expected U.S. jobs data, while Japanese and Korean
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Emerging Stocks Rise to Two-Week High on Stimulus Bets
Businessweek
Emerging-market stocks rose, with a benchmark index heading for a two-week high, as signs of slowing growth from China to the U.S. spurred speculation central banks will take more steps to boost their economies. AU Optronics Corp. (2409) rose 7 percent
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Analysis: China fattens pig farms to tame pork prices
Reuters
JINHUA, China (Reuters) – The Jiahua pig farm in eastern Zhejiang province is on the frontline of China’s battle with food inflation, a prime example of how a shift in farming practices may someday stabilize the price of the nation’s favorite meat
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Euro & AUD sharply higher, China trade data eyed
Reuters
SYDNEY (Reuters) – The euro hovered near four-month highs on Monday, while commodity currencies also held firm after soft data in the United States and China reinforced hopes of more stimulus from the world’s two biggest economies. The single currency
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Clinton Advice on Working With China: First Be Yourself
Bloomberg
In an interview with Bloomberg Radio after her sixth — and probably last — visit to China as the top U.S. diplomat, Clinton reflected on the lessons of 3 1/2 years trying to resolve issues with a rising power that is the world’s second- largest
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GRAINS-US soy falls for fourth day, wheat climbs on supply woes
Reuters
Wheat gains for third day, market eyes Russia * Soy drops for five out of six sessions as rain helps U.S. crop * USDA to update crop estimates on Wednesday * China’s August soy imports fall by quarter (Adds quotes, detail) By Naveen Thukral SINGAPORE,
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US Nuclear-Sub arrival adds spice to the Philippine-China relationship
Demotix
Multi sectoral group Bagong Alyansang Makabayan (BAYAN) blamed the growing US military presence in the country for aggravating the already tense relationship between the Philippines and China. Manila, Philippines – Multisectoral group Bagong
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