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U.S. China News 2012.09.24

Mon, September 24, 2012

Romney latest to lob China criticism
CBS News
(CBS News) The battle over conceding jobs to China has reemerged again with the latest salvo coming in the form a new TV ad from Mitt Romney criticizing President Obama’s China-related policy and its effect on U.S. workers. “Fewer Americans are working
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COLUMN-US, China climate standoff returns: Gerard Wynn
Reuters
By Gerard Wynn. LONDON, Sept 24 (Reuters) – Major developing countries have dampened prospects for agreement on international carbon emissions reduction targets by insisting on distinguishing between the responsibilities of industrialised and
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Complex web of interests drives US bid for calm on South China Sea
Christian Science Monitor
Senior American officials have visited Asia twice this month alone, to the chagrin of China, urging calm in a region where maritime clashes have become a near daily threat since April. “The United States will try to keep everyone in check, sending the
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Apple supplier halts China factory after violence
U.S. News & World Report
By JOE McDONALD, Associated Press. BEIJING (AP) — The company that makes Apple’s iPhones suspended production at a factory in China on Monday after a brawl by as many as 2,000 employees at a dormitory injured 40 people. The fight, the cause of
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Kellogg inks China JV to gain share in breakfast, snack market
Reuters
(Reuters) – Kellogg Co (K.N) is expanding its presence in China’s fast growing breakfast and snack foods market through a new joint venture with Singapore palm oil producer Wilmar International (WLIL.SI), months after the U.S. cereal maker sold its
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US Ambassador Gary Locke’s humility a stark contrast with officiousness of
The Seattle Times
The different ways Locke has been perceived in China are a “great illustration that there is not just one China, said Rigger, speaking after appearing on a panel, ““Rising Powers: Challenges and Opportunities for the U.S.”, at the Association of
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Ex-Police Chief Gets 15 Years in China
Voice of America
BEIJING — A court in China has sentenced former police chief Wang Lijun to 15 years in prison. Wang’s flight to a U.S. consulate in southern China, earlier this year, helped expose one of the Communist party’s biggest political scandals in decades.
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Is a weak US dollar good for China?
Business Insider
Also, we have long suspected that weak US dollar helps Asian countries like China. China has a soft peg between Chinese Yuan and US dollar, which “imports” US monetary policy. Weaker dollar also means weaker Chinese Yuan against other currencies,
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As China Sheds Central Planning, Obama Seeks To Adopt It
Forbes
At three different points in President Obama’s recent speech at the Charlotte convention, he cited the economic challenges that China poses to the United States. In other speeches, he has alluded to what he seems to regard as a U.S.China race to
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Beverage magnate tops China’s rich list; property slips
Reuters
China had 2.7 million U.S. dollar millionaires as of August 15 this year, the report said, while the number of dollar billionaires fell by 20 to 251. Manufacturing replaced property as the top source of wealth for the ultra-wealthy. Property was number
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ChinaUS cooperation of audit supervision advanced
Morning Whistle
The U.S. Public Company Accounting Oversight Board (PCAOB) is working with China’s audit supervisory authorities by sending people to other side to oversee the process of the audit supervision, a board member of PCAOB said in a speech on Friday.
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China’s Stocks Rise on Speculation of Market-Boosting Measures
Bloomberg
China’s manufacturers and retailers are less optimistic about sales than they were three months ago and more companies are cutting jobs, according to a survey by CBB International LLC modeled on the U.S. Federal Reserve’s Beige Book. Thirty-day
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Japan, China military conflict seen unlikely despite strain
Reuters
TOKYO (Reuters) – Hawkish Chinese commentators have urged Beijing to prepare for military conflict with Japan as tensions mount over disputed islands in the East China Sea, but most experts say chances the Asian rivals will decide to go to war are slim.
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USChina Trade Spat Has ‘More Bark Than Bite’: Lamy
CNBC.com
A dispute between the U.S. and China over illegal trade practices, which has sparked worries over a potential trade war between the world’s two largest economies, has “more bark than bite,” according to the World Trade Organization’s (WTO) Director
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Government and Business Leaders Meet to Discuss American Competitiveness
Sacramento Bee
Of U.S. SMEs that do export, only 10% export to China, America’s fastest growing export market. At Friday’s AmCham Shanghai SME roundtable, attended by Under Secretary of State Robert Hormats, Under Secretary of Commerce Francisco Sanchez and
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At Estée Lauder, a Brand Is Developed Just for China
New York Times
But persuading Chinese consumers to buy into a wholly new brand created for them by an American company could be much more difficult for Lauder than simply introducing its global best sellers to the Asian market, industry analysts said. “This is going
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US China Policy: Incoherent and Dangerous
The Fiscal Times
Dragging China into U.S. politics has been time-honored political fodder at election time for many campaign cycles. (Before China it was Japan. Remember?) Rarely, if ever, does such fire-breathing amount to much. But it might this time. Obama went
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China Skyline Getting Bigger, More Skyscrapers Than USA
Forbes
China will have more skyscrapers than the U.S. by 2017, MotianCity, a research organization in China focusing on skyscrapers, said in a “Supercity” report released to the local press late last week. China will have 802 buildings standing over 152
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China’s corruption crackdown takes shine off luxury boom
Reuters
HONG KONG (Reuters) – Luxury brands banking on a China rebound to boost sales may be in for an unpleasant surprise: weak demand in the world’s second largest luxury market may last longer than the economic slowdown as Beijing cracks down on
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Japan stocks slip on higher yen, China tensions
MarketWatch
(JP:7974)(US:NTDOF) gave up opening gains to trade 0.3% lower despite reports from CNBC and AllThingsD that the firm’s new Wii U videogame device is close to selling out ahead of its Nov. 18 arrival at U.S. stores. The row between Japan and China over
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US Intelligence Must Boost S&T Sources, Analysis As China Rises
AOL Defense
The folks at the University of Maryland’s Center for Advanced Life Cycle Engineering (CALCE) offer a fascinating look at the rich harvest of science and technology China gets from us when they host conferences. You can be sure the Chinese weapons of
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China’s Galloping Horse, Reliance team up to buy Digital Domain
Los Angeles Times
The bid potentially marks the latest acquisition of a U.S. media company by a Chinese firm. China’s Dalian Wanda Group recently purchased AMC Entertainment, the nation’s second-largest theater chain. The offer, made at an auction in New York on Friday,
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China to build US$100m steel plant in Mbarara full story…
New Vision
China Machine Building International Corporation (CMIC), a Chinese government company, has pledged to establish a US$100 million iron ore mining and integrated steel plant in Mbarara district. The plant is expected to be fully operational in 18 months.
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Communist China still a threat to US
Jacksonville Daily News
Because the U.S. news media have failed to report the extent of China’s economic and political subversion worldwide, most Americans don’t suspect any at home. Chinese expansion no longer looks like the Korean invasion of 1950. It now mostly consists of
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Giant panda cub that died at US zoo had abnormal liver, vet says
Reuters
Mei Xiang had given birth after five years of failed efforts at conception. Her first cub, Tai Shan, was born July 9, 2005. Tai Shan is now at the China Conservation and Research Center for the Giant Panda in Wolong. (Editing by Barbara Goldberg and
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Ex-top cop in China scandal gets 15 years in jail
USA TODAY
BEIJING — Former Mafia-busting police chief Wang Lijun faces 15 years behind bars after the second major criminal case in China’s biggest political scandal in years concluded today. But the guilty verdict left the public and analysts guessing if the
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China closes in on Bo Xilai after jailing ex-police chief
Chicago Tribune
Wang, fearing for his safety, fled to the U.S. consulate in Chengdu where he hid for more than 24 hours until Chinese officials coaxed him out. In August, Gu was sentenced to a suspended death sentence, which effectively means life in prison. Wang
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Recovery Doubts Drive Up US Borrowing
Businessweek
While investors outside the U.S. own 50.4 percent of outstanding Treasuries, up from 49 percent in May 2011, their share has declined from 55.7 percent in 2008. China, the biggest foreign owner, has cut its holdings to $1.15 trillion from a peak of $1
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Playing China’s Great Internet Wall
Investorplace.com
China has the world’s largest number of Internet users, at about 513 million — more than double the 245 million in the U.S.! Interestingly enough, China’s penetration rate is still only 38%, versus nearly 80% in the U.S.. As for mobile, China has
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China’s oil demand drops in August, U.S. light crude prices dip
Edmonton Journal (blog)
China’s oil demand dipped again in August, the second decline in the past three months, according to an analysis of recent Chinese government data by Platts, a U.S.-based global energy research firm. The 1.5 per cent drop last month reduced China’s
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China’s economy is ‘rebalancing’: report
MarketWatch
The China Beige Book is a private publication modeled after the U.S. Federal Reserve’s outlook with the same name, and it began publication with the first quarter of this year. “Monetary stimulus is revealing its limitations,” said Craig Charney
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Chinese police chief in scandal gets 15-year sentence
Los Angeles Times
BEIJING — The Chinese police chief who fled to a U.S. Consulate in February and set off a messy, sprawling political scandal involving murder was convicted Monday on charges of abuse of power, defection, bribe-taking and “bending the law for selfish
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China and Japan: Test Cases for Aging
The Fiscal Times (blog)
Conventional wisdom, of course, says that China is Asia’s emerging tiger economy and that it will overtake the U.S. as the world’s next economic superpower – while Japan, on the other hand, has seen its sun set and its once-dominant economy will fail
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Are US money managers much too rosy?
Globe and Mail
With the euro zone barely trudging along, Japan joining the intervention parade and China cooling, U.S. investors have good reason to be confident about their ranking in the hierarchy of economic powerhouses. But at what point does confidence turn into
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Navarro: China’s Currency Policy Stunts US Growth, Jobs
Moneynews
China’s foreign exchange policies are stealing markets from the U.S., killing jobs here and hampering growth rates, said Peter Navarro, a business professor at the University of California, Irvine, and producer of the documentary “Death By China
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China’s poorer regions fare better in downturn: survey
Chicago Tribune
BEIJING (Reuters) – Businesses in China’s poorer provinces are weathering the effects of economic downturn better than those in the country’s wealthier regions, the preliminary findings of a nationwide survey of senior executives revealed on Monday.
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China’s stubbornness runs aground
The Australian
HOW courteous is the Japanese, ran Ogden Nash’s poem from the 1930s, he always says ‘Excuse it please./ He climbs into his neighbour’s garden/ And smiles and says ‘I beg your pardon’/ He bows and grins a friendly grin/ And calls his hungry family in
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India grinds in the US pivot
Asia Times Online
The January 2012 Pentagon document on Strategic Guidance, entitled “Sustaining Global Leadership: Priorities for Twenty First Century,” has inaugurated a new cold war in the Asia-Pacific region between the United States and China. The document affirms
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Corporate China — exposed abroad
MarketWatch
A case in point are the ongoing U.S. congressional hearings, where ambitious telecom vendors Huawei (SHE:CN:002502) and ZTE (HKG:HK:763) (OTN:ZTCOF) have been called to refute allegations that they are arms of the Chinese government.
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US playing dual role
China Daily
The US began test-flying MV-22 Ospreys in Okinawa on Sept 21. Since the Japanese see the airplane-helicopter hybrid as crucial leverage in a territorial dispute with China, the US is encouraging Japan to stay away from a peaceful, negotiated settlement
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Egyptian President visits US
Xinhua
24 (Xinhuanet) — Egyptian President Mohamed Morsi, is in New York, to attend the United Nations’ 67th General Assembly. After visiting Saudi Arabia, China, Iran, the African union and the EU, Egyptian President Mohammed Morsi head to the United States.
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Zinc Hits Highs on QE3, Chinese Stimulus
Resource Investing News
Chinese, American and Japanese stimulus have helped bump zinc prices to nearly their highest level this year following months of rising London Metal Exchange (LME) stockpiles and sliding refined metal prices. This elevation is expected to persist into
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