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U.S. China News 2012.09.28

Fri, September 28, 2012

WTO to Probe US Anti-Subsidy Duties on Chinese Imports
Businessweek
The Geneva-based trade arbiter agreed today to set up a panel of judges to investigate China’s allegation that the U.S. acted “inconsistently with WTO rules and rulings in many aspects” during probes to determine whether Chinese companies received
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Canada won’t say if China involved in hacking incident
Reuters
OTTAWA (Reuters) – Canada said it was aware hackers had breached security at a domestic manufacturer of software used by big energy companies, but declined to comment on a report that a Chinese group could be responsible. Calgary-based Telvent
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Chinese shippers place order for 50 supertankers
U.S. News & World Report
The order adds to a multibillion-dollar flurry of investments by state companies in recent weeks — a key element in Beijing’s carefully controlled effort to reverse a painful economic slump. The government has approved a wave of spending on new steel

See all stories on this topic »China, US should work to expand common interests: FM
Xinhua
Chinese Foreign Minister Yang Jiechi (R) meets with U.S. Secretary of State Hillary Clinton on the sidelines of the 67th session of the UN General Assembly in New York, the United States, Sept. 27, 2012. (Xinhua/Wang Lei)
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US call for ‘cool heads’ in China-Japan island dispute goes unheeded
Hindustan Times
US Secretary of State Hillary Clinton has urged China and Japan to let “cool heads” prevail in a dispute over a cluster of East China Sea islands, but her pleas fell on deaf ears as Chinese and Japanese diplomats again traded fierce words. Clinton met
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China, US militaries hold annual maritime security meeting
Xinhua
QINGDAO, Sept. 28 (Xinhua) — China and U.S. militaries held an annual meeting under the Sino-U.S. military Maritime Consultative Agreement from Sept. 27 to 28 in northern port city of Qingdao. The two militaries agreed to enhance contacts and
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Yuan hits a record — and the Chinese can thank the U.S.
MarketWatch (blog)
China’s yuan climbed Friday to its highest level against the U.S. dollar since the currency was revaluated in July of 2005, buoyed by the U.S. Federal Reserve’s recent QE3 program as well as data this week showing that the People’s Bank of China
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Samuel Cox, US Cyber Command Officier, Says China Is Targeting Pentagon
Huffington Post
WASHINGTON (Reuters) – The U.S. Cyber Command’s top intelligence officer accused China on Thursday of persistent efforts to pierce Pentagon computer networks and said a proposal was moving forward to boost the cyber command in the U.S. military
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Afghanistan: as US Exits, China Surges
CounterPunch
There’s got to be some symbolism—if not irony–in the fact that just as the last of the 33,000 troops surged by Obama two years ago supposedly to pacify Afghanistan pulled out, the highest ranking Chinese official to visit Afghanistan in almost half a
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US STOCKS-Wall St dips on quarter end; Spain tests as expected
Reuters
Elsewhere in the tech arena, U.S.-listed shares of Research in Motion jumped 7.8 percent to $7.70 a day after a smaller-than-expected quarterly loss. Nike Inc warned of slowing orders in China, becoming the latest company to sound a note of caution
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China says Iran nuclear talks at “crucial stage”
Chicago Tribune
NEW YORK (Reuters) – China said on Thursday that the disagreement over Iran’s nuclear program had reached “a new, crucial stage,” calling for Tehran to begin a new round of talks with world powers, something a U.S. official said could happen at some
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US will not mediate in China-Japan island dispute
NBC 29 News
UNITED NATIONS (AP) – The U.S. is urging China and Japan make serious diplomatic efforts to peacefully manage their bitter dispute over contested islands. The two Asian powers traded angry accusations in a late-night exchange at the U.N. General
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US Regulators Fines on Cotton Trading Limits Tops $2 Million
Businessweek
Cotton surged to an all-time high of $2.197 a pound on ICE Futures U.S. in New York on March 7, 2011, from 66.55 cents on Feb. 5, 2010, amid rising demand from China. The commodity then plunged to less than $1 by July 2011, and closed yesterday at
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Chinese Slowdown Idles US Coal Mines
Wall Street Journal
“When someone had coal to move, China was your big box store,” said Ernie Thrasher, chief executive of XCoal Energy & Resources, a major U.S. marketer of such coal to Asia. This year, “the switch went off.” While many have blamed the downturn in the
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Stocks to Ward Off China Slowdown: Pros
CNBC.com (blog)
Worries about an economic slowdown in China are overblown, meaning these stocks have plenty of upside left, the CNBC “Fast Money” pros said on Friday. Drakon Capital’s Guy Adami said that China Mobile
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Commentary – China-Liberia Relations At the 63rd Anniversary of the Founding
AllAfrica.com
Although there are many impressions about Liberia’s foreign relations, let us use the occasion of the 63 Anniversary of the Founding of the People’s Republic of China to provide some concrete impressions about China-Liberia relations. Of special
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WTO appoints expert panel in long-running ChinaUS dispute
Expatica Switzerland
The procedural measure, taken by the organisation’s Dispute Settlement Body, comes after Beijing complained that Washington had imposed so-called “countervailing duty measures” on many Chinese products which the US deemed to be
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Bo Expelled From Party as China Leaders Clear Way for Transition
Businessweek
Sept. 29 (Bloomberg) —China’s Communist Party expelled former Politburo member Bo Xilai yesterday and said he will face criminal charges, reaching consensus on a murder scandal that roiled the political elite and clearing the way for a once-in-a
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U.S. Stocks Advance on Speculation China Will Stimulate Economy
San Francisco Chronicle
27 (Bloomberg) — U.S. stocks rose for the first time in six days amid bets on China’s economic stimulus measures and as American jobless claims fell more than forecast last week. The Standard & Poor’s 500 Index advanced 0.3 percent to 1,437.23 at 9:31
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PROCUREMENT: China Stalls American Weapons For Taiwan
Strategy Page
Might have had something to do with China pressuring the United States to not send weapons to Taiwan. Taiwan has been trying to upgrade its Patriot anti-missile systems for a decade, but the U.S. support for this effort has been somewhat half-hearted.
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Should the US Retaliate against China’s Currency Manipulation?
The Moderate Voice
Republican presidential nominee, Mitt Romney, focused much of his attention last week connecting the decade-long skid of the U.S. manufacturing sector with President Obama’s trade policy on China, specifically Obama’s failure to apply the currency
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US: China-Asean dialogue on sea dispute encouraging
Philippine Star
WASHINGTON – The United States has described as encouraging moves by China and the Association of Southeast Asian Nations (ASEAN) to restart an informal dialogue on the contentious South China Sea issue. Secretary of State Hillary Clinton met
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Nike caught out as China slows
CNN
The US sportswear company said on Thursday that new orders from its greater China region, which includes Taiwan and Hong Kong, were 5 per cent below their level a year ago, confirming a slowdown in a crucial market. Charlie Denson, president of the
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US Medtronic to buy China Kanghui
MarketWatch
HONG KONG–Medical devices maker Medtronic Inc. (NYSE:MDT) said Friday it agreed to buy China Kanghui Holdings (NYSE:KH) for $816 million in cash, in a move to enter China’s medical device market. Medtronic will pay $30.75 per American Depository
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China Flies US-Designed VTOL UAV
Aviation Week
The SVU-200 was designed for Hunan Sunward Science and Technology of Changsha, China, by Dennis Fetters, who designed Air Command gyroplanes and the Mini-500 single-seat helicopter. Fetters retired in 2000 and now describes himself as a “gypsy
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CANADA FX DEBT-C$ climbs vs US$ after Spain, China moves
Reuters
C$ at C$0.9795 vs US$, or $1.0209 * Spain announces economic reforms and 2013 budget * China’s central bank adds biggest weekly cash injection * Bond prices mostly fall By Solarina Ho TORONTO, Sept 27 (Reuters) – Canada’s dollar firmed against the
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The Realist Prism: As Egypt Resets US Ties, China Waits in the Wings
World Politics Review
Writing 10 years ago in Orbis magazine (.pdf), Ray Takeyh and I argued that, if a wave of democratization were to topple formerly pro-American autocrats in the Middle East, the new Arab democracies “would seek what they perceived to be equitable and
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China funds raise equity holdings ahead of Party Congress
Reuters
SHANGHAI (Reuters) – Chinese fund managers raised their recommended equity weightings for the first time in four months as market confidence improved after a new round of stimulus by the United States and ahead of Beijing’s once-in-a-decade leadership
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TEXT-S&P cuts China Fishery to ‘B+’; outlook stable
Reuters
In our opinion, China Fishery is also exposed to high uncertainty and regulatory risk for its Peru operations. The company’s revenue fell 19.7% to US$152.6 million for the third quarter of fiscal 2012 from US$190 million for the same period last year
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China: What Kind of Superpower?
Businessweek
As nationalist war-mongering goes, the anti-Japanese demonstrations taking place across China have been relatively tame. Chinese authorities have maintained tight control over the protesters, some of whom call for an armed response against Japan over
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Downturn? Not in first class, say China’s globetrotting shoppers
Reuters
SHANGHAI (Reuters) – Rich Chinese tourists paying $40,000 to hunt elk in Utah or booking the entire first-class cabin for a family flight to France show China’s economic slowdown has yet to thin the wallets or dull the appetites of its deep-pocketed elite.
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Report: US, Canada, China restaurants gain traffic in Q2
Fast Casual
Other parts of the world fared better during Q2 2012; Canada, China and the United States continued to show traffic gains and visits were stable in Australia and Japan, according to NPD’s CREST, which tracks commercial foodservice usage. Visits to
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PRECIOUS-Gold up 1.5 pct on China stimulus talk, euro fears
Reuters
Gold posts biggest one-day rally in two weeks * Spain’s new austerity measures increase safe-haven bids * Talk of additional China stimulus supportive * Coming up: U.S. August personal income Friday (Adds details, updates comment, market activity) By
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Bridgestone Braces for Lower Tire Prices as China Duties Expire
Bloomberg
(5108), the world’s largest maker of tires, is preparing for increased competition after a 25 percent punitive duty imposed by the U.S. against Chinese tires expired Sept. 26, Yuki Kawasoe, a spokesman at the Tokyo-based company, said yesterday. China
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China gov’t expert questions Brit’s cause of death
U.S. News & World Report
By GILLIAN WONG, Associated Press. BEIJING (AP) — A prominent Chinese government forensic scientist has questioned the cause of death of a murdered British businessman, casting doubt on the official version of a scandal that reached into the upper
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China goes nuts over US pecans
North Texas e-News
COLLEGE STATION – China has gone nuts over pecans, which is great for U.S. growers but might have consumers shelling out more money for the fall food favorite. The Chinese culinary fancy led to increased imports of pecans from 2.9 million pounds in
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U.S. And Eurozone Low Economic Growth, Looming Inflation Forcing Investors
Seeking Alpha
Global investors are starting to take a hard look and are starting to return to Chinese equities. This is something that I have been saying would be inevitable, with the stagnant prospects for economic growth in the U.S. and Europe coupled with looming
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China Is Straddling a Dangerous Fence in Persian Gulf
Energy Collective
China’s response to the US-led initiative on Iran highlights Beijing’s highly ambiguous goals in the Persian Gulf. Denying it has a commodity-driven policy, China has tried to straddle the fence in its Iran policy. It has offered its cooperation to US
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Cheap Chinese steel, stagnant economy are Severstal’s main challenges
The Commercial Dispatch
China would argue that in the 1800s, the U.S. was unregulated,” Wednieski said. “China feels this is its industrial age. China doesn’t have an Environmental Protection Agency and they do not regulate emissions. A lot of the steel mills in China are
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Antidote to USChina Trade Imbalances: Promote Democracy
The Epoch Times
A remedy for both the joblessness in the United States and the economic slowdown in China just might be enriching the Chinese people. Raising the standard of living for 1.3 billion people would enable average Chinese to afford U.S.-made goods. Higher
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China: Friend of Corporate America, Enemy of the U.S. Government
OpEdNews
Now let’s take a look at the other side that presents a negative, adversarial relationship between the government of China and that of the U.S. While America benefits greatly from China’s manufacturing and from its continued ongoing purchase of
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Clinton urges “cool heads” in China-Japan island dispute
Reuters
In her meeting with Yang, Clinton also touched on territorial disputes in the South China Sea which have set Beijing against a number of its Southeast Asian neighbors including close U.S. ally the Philippines. China has resisted calls by the United
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Facebook, Twitter Growth in China Has Lots of Caveats
Businessweek
A new report shows just how porous China’s infamous Great Firewall might be for local Internet users determined to access banned websites. The country’s censors have deemed Facebook (FB) and Twitter unfit for local viewing, but that hasn’t stopped
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US cannot read runes in Mideast
China Daily
Amid the anti-American protests in Muslim countries, US President Barack Obama urged world leaders on Tuesday to strongly oppose violence and extremism, arguing that protecting free speech is a universal responsibility rather than just an American
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Paying China for botched railway project is violation of graft law
Inquirer.net
MANILA, Philippines—A lawyer is questioning the government’s move to pay back China’s US$500 million official development assistance (ODA) for the scrapped North Rail project. Lawyer Harry Roque on Thursday said such payment would be a violation of
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