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U.S. China News 2012.09.22

Fri, September 21, 2012

The Chinese View of Obama and Romney
New Yorker (blog)
China has been pulled into the center ring of the U.S. Presidential campaign in recent weeks, with the candidates seeking to outdo each other on pledges to harden up on trade, currency, and security. In the Times today, Mark Landler charts Obama’s
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China, US battle over auto parts
Global Times
The US government filed a complaint against China with the World Trade Organization (WTO) on Monday, alleging that China has provided illegal subsidies to its automobile and automobile-parts exporters, in 12 designated export bases, according to a
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US Says Disputed Islands Covered by Japan Defense Treaty
Businessweek
The U.S. doesn’t take a position on the sovereignty of the islands, known as Diaoyu in Chinese and Senkaku in Japanese, Campbell said. His comments echoed those of Secretary of State Hillary Clinton, who said in 2010 that the islands fall under “mutual
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China eases access to insurance, travel industries
The Seattle Times
China has eased restrictions on foreign companies in parts of its insurance, travel and delivery industries in a possible effort to reverse a slide in investment from abroad, an American business group said Friday. By JOE McDONALD. AP Business Writer
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We Fear China Beating Us at Our Own Game
Fox Business
U.S. foreign policy with China, under both Republican and Democratic administrations, has been, “Loan us your money, so we can buy your stuff.” Some of our most-valuable industries, from global banks like J.P. Morgan Chase & Co. (JPM) to distribution
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Ex-top cop in China scandal gets verdict Monday
U.S. News & World Report
BEIJING (AP) — The ex-police chief at the center of a seamy political scandal will be sentenced Monday as Chinese leaders move to dispatch a messy affair that has upset a tricky transition of power. The Intermediate People’s Court in Chengdu on Friday
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US Consumers Proving Old Faithful for Asia Exporters
Businessweek
Japan’s exports to the U.S. jumped 17 percent so far this year from 2011, even as total shipments slumped 0.7 percent, government data showed yesterday. China’s exports are up 10 percent to America in January-through-August, outpacing a 7 percent total
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Chinese democracy experiment marked by protest a year on
Reuters
WUKAN, China (Reuters) – One of China’s most celebrated experiments in grass-roots democracy showed signs of faltering on Friday, as frustrations with elected officials in the southern fishing village of Wukan triggered a small and angry protest. On
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Panetta: Chinese Cyberattacks Unabated
CIO Today
China-backed hackers’ tactics are continuing and evolving, U.S. Defense Secretary Leon Panetta says, and are expanding and focusing more intently on critical American oil, gas and other energy companies. Chinese officials have steadfastly denied the
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Australia Dollar Drops Versus US Peer on China Factory Slump
Businessweek
The Australian dollar fell against its U.S. peer after Chinese manufacturing declined for an 11th month, clouding the prospects for the nation’s resource exports. The Aussie dropped against the majority of its 16 most- traded counterparts as euro-area
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China Appears More Competitive Than US: Dalio
CNBC.com
The emerging debate over the health of China’s economy demonstrates how the world’s second largest economy is actually more competitive than the U.S., well-known hedge fund manager Ray Dalio told CNBC Friday. The founder and co-chief investment
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China’s Stocks Rise, Paring Biggest Weekly Decline in Year
Businessweek
China’s stocks rose, paring the benchmark index’s steepest five-day drop in almost a year, on speculation this week’s losses were excessive. Jiangxi Copper Co. and Yanzhou Coal Mining Co. led a rebound for materials and energy producers. China Cosco
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Vice premier meets US business executives
China Daily
BEIJING – Vice Premier Li Keqiang on Thursday met with top executives from two leading US companies, calling for them to work more closely with Chinese businesses. Li met separately with CEO and Chairman of the United Technologies Corporation (UTC)
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Conference in Houston eyes expanded ChinaUS energy cooperation
People’s Daily Online
Oil and gas policies, China’s foreign investment policies, investment opportunities in U.S. oil and gas, and potential risks and restrictions in U.S. oil and gas development, were among issues discussed at the second U.S.China Energy Summit in Houston.
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US Executives Operating in China Downplay Concerns About Economic
Fox Business
A group of U.S. executives doing business in China expressed little concern Thursday about the economic slowdown, viewing it as a cyclical downturn unlikely to cause a hit to U.S. exports. During an annual visit to Washington to meet with lawmakers and
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China Scare
CounterPunch
“Death by China” opens with shoppers happily buying cheap Chinese products, turns to closed American factories, then to unemployed workers. Talking heads tell us that China, without workers’ rights or environmental controls, competes unfairly with
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Australia counters Chinese threat
Sydney Morning Herald
Mr Luttwak is a consultant to the Pentagon’s in-house think tank, the Office of Net Assessment, and has high-level access to Chinese and US military officials. His book, to be published in November, stems from a research project commissioned by the ONA
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EPA stifles US coal but subsidizes it in China
Washington Examiner
Two weeks ago, the United States national debt surpassed $16 trillion. To put that into perspective, that is more than $50,000 per person in the U.S. To finance this overwhelming debt, the U.S. is borrowing roughly 40 cents of every dollar we spend, a
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Are Chinese Exporters Cheating?
WBUR
The US says China provides cheap loans and grants and other incentives to their car industry, and that these favors go to companies who are already successful exporters. That, says US Trade Representative Ron Kirk, is unfair. “There are a set of rules
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US factories struggle, Europe, China slump
Business Recorder (blog)
US manufacturing suffered its weakest quarter in three years and conditions at European businesses worsened, surveys showed on Thursday, while China’s economy continued to lose momentum. The data shed more light on the difficult task facing global
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Export surge could help US add 5 million jobs by 2020: study
CNBC.com
By 2015, those factors will make average manufacturing costs in the United States lower by 15 percent than in Germany and France, 8 percent than in the United Kingdom and 21 percent than in Japan, the study projects. Factories’ costs in China will
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US Working on Investment Treaties with India, China
INDOlink
Bangalore: Months after it unveiled a model bilateral investment treaty (BIT), a top Obama Administration official has said the U.S. is working on BIT with a number of countries, including India, China and Mauritius.
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THE BACK CHANNELS: Trillanes, US, Pangilinan
GMA News
Sen. Antonio Trillanes IV acted as the Philippines’ backdoor negotiator with China from April to July this year, communicating with Chinese Foreign Affairs officials in a role in which he won “minor successes,” Presidential Spokesperson Edwin Lacierda
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Travel: Tourist visits to U.S. up 10 percent this summer
Summit County Citizens Voice
By some estimates, visits from China to the U.S. could triple by 2016, potentially contributing to the creation of new jobs and generating tourism revenues across the country. Overall, the U.S. tourism and travel industry contributes $1.4 trillion in
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Elections bring China-bashing season
CNN
Tough with China? Give me a break. We don’t know whether Obama conveyed to the Chinese what he told the Russians (just let me get through the election, and I will be more flexible), but it’s no secret to anyone that China holds more than $1 trillion in
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US blind to faults in dealing with Muslims
China Daily
Many believe that the beauty of the US political system is its ability to self-correct. Things that go awry will ultimately be put right, these people say. But looking back over the past decade, it’s clear that if there ever was such a mechanism, it is
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US thermal coal export industry more bullish on India than China
Platts
No one is discounting China’s future as a major thermal coal importer, but India will need increasing amounts of electricity if it is to fulfill its infrastructure growth plans, US coal export executives said Thursday. India will be the big driver in
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US Losing To China in ‘Financial Cold War’
TheStreetTV
Add to. Share Flag as inappropriate. Interactive Transcript. Loading… Alert icon. Sign in or sign up now! Alert icon. Loading… There is no Interactive Transcript. Published on Sep 21, 2012 by TheStreetTV. US Losing To China in ‘Financial Cold War’
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US futures dip on weak China, Europe data
Pakistan Daily Times
NEW YORK: US stock index futures eased on Thursday as contraction in Chinese manufacturing and a downturn in Europe’s service sector underscored the headwinds faced by the global economy, even as central banks aggressively step up stimulus
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China: For Many Expats, It’s Not Worth It
Businessweek
“If you haven’t read Mark Kitto’s article on why he’s leaving China, do so now,” wrote Richard Burger, who has lived in Beijing for nearly four years, on his popular blog The Peking Duck, on Aug. 14. “There is talk of the U.S. ‘falling off a financial
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Manufacturing May Be Coming Back to the U.S., Long-Term
Forbes
Economists have noted that China’s labor costs are rising, affecting its manufacturing profits. Yet the overall cost premium, based on the difference in absolute wages between the U.S. and China, is actually expanding, so labor arbitrage involving
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China: We want stronger military ties
New Zealand Herald
Foreign Minister Murray McCully, who has been talking to visiting United States Defence Secretary Leon Panetta, agreed there was potential for greater military to military relations with China. He said there had been a focus on improving military co
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End of US naval ban a ‘new era’
New Zealand Herald
The Defence Secretary said he believed the key to providing for security and prosperity in the Pacific region was going to be the bilateral relationship between the US and China – and military to military relationships were important to that. Mr
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MARKETS SPECTATOR: Positive mind
Business Spectator
It was another quiet session in overnight markets as a raft of broadly in line economic data from both the US and China did little to allay concerns about the state of global growth. All three of the major indices opened the session sharply lower
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China’s central bank denounces flood of cheap money
Sydney Morning Herald
Mr Zhou made the call in a speech delivered in April but not published on the website of the People’s Bank of China until this week, as the chairman of the US Federal Reserve, Ben Bernanke, announced a new round of quantitative easing – an injection of
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US: World can’t afford crisis in Asian seas
The Associated Press
Tensions have also run high in recent months in the South China Sea — a key conduit for global trade, where China has disputes with Southeast Asian neighbors. Two key U.S. allies, Japan and South Korea, are also at loggerheads over other disputed
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China, Russia, Ukraine Head US List of Copyright Offenders
RIA Novosti
A U.S. congressional panel has identified five countries including China, Russia and Ukraine, that it says lack legal protections for copyright. Italy and Switzerland have made their first appearance on the Congressional International Anti-Piracy
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Is China an economic threat to the US?
Alaska Dispatch
Sixty-six percent view China as a competitor, versus the 16 percent who see Beijing as a partner. A full 78 percent believe China’s large holdings of US debt is a serious problem. Seventy-one percent see US job losses to China in that same light, while
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China is a threat to US recovery – Swan
Sky News Australia
Treasurer Wayne Swan says China’s economy is performing like Usain Bolt, and the big threat to US recovery is the “cranks” of the Republican Party. Mr Swan remains optimistic about China, Australia’s largest trading partner, after recently visiting and
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