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U.S. China News 2012.10.04

Thu, October 4, 2012

Theft of trade secrets worsening in ChinaUS business
Reuters
“This matter requires more attention,” Jeremie Waterman, head of the U.S. Chamber of Commerce’s China division, told a U.S. government panel hosted by the U.S. Trade Representative’s office. It “has risen substantially in importance over the last year
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China To Challenge US Dollar Reserve Currency Status
Business Insider
Alan Wheatley, Global Economics Correspondent for Reuters has written a very interesting article, ‘Analysis: China’s currency foray augurs geopolitical strains’ where he emphasizes China’s desire to wean out the US dollar’s currency reserve status
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Continuing the Interview with Professor Yabuki on the Senkaku/Diaoyudao
Forbes
My advocacy of abrogating the U.S.-Japan security treaty is not just my idea. It is an idea whose genealogy traces to Ishibashi’s “Japan-ChinaU.S.-Soviet Peace Alliance” initiative. The current Japan-China conflict has only deepened my conviction that
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SolarWorld Makes Case Against China as US Eyes Trade Penalties
Businessweek
U.S. solar-energy manufacturers told regulators yesterday that China is unfairly supporting its domestic industry and defended punitive tariffs on imports from the Asian nation. Chinese exports of crystalline silicon photovoltaic cells and modules have
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Oil up two percent on Syria, refinery fire lifts US gasoline
Reuters
NEW YORK (Reuters) – Oil prices jumped 2 percent Thursday as Turkey’s retaliatory strikes on a Syria sparked more concern about potential disruptions to Middle East oil supply, while U.S. gasoline futures rallied after a fire at a refinery in Texas.
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Sany Affiliate May Lose $20 Million on US Wind-Farm Ban
Businessweek
The rejection threatens Sany’s push to expand in the U.S., Zhou said, as China’s slower economic growth damps domestic demand at its main construction and mining equipment businesses. Wind-farm owner Ralls Corp. is suing Obama in a bid to reverse the
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China urges restraint on Turkey-Syria border tensions
Reuters
The U.S.-led Western military alliance held an urgent late-night meeting in Brussels to discuss the matter and later on Wednesday in New York, Turkey asked the U.N. Security Council to take the “necessary action” to stop Syrian aggression. In a letter
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METALS-Copper rises on Spain support prospects; US data eyed
Reuters
Signals that a economic recovery could be taking hold in the United States kept losses in check ahead of Friday’s key non-farm payrolls report, while lingering worries over Europe’s economy and slowing growth in China equally capped gains. “The market
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US Grapples With China Policy
Radio Free Asia
An aggressive Republican White House hopeful Mitt Romney tried twice to draw President Barack Obama into discussing U.S. policy toward China during the first televised presidential debate on Wednesday, but the incumbent did not rise to the bait.
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Pentagon Says US Has Resources for Strategic Asia Shift
Voice of America
The U.S. military’s new focus on Asia has also been received skeptically in China, where leaders view it as an attempt to halt its rising influence. But Carter repeated the administration’s insistence that it is not aimed at containing the emerging
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China Becomes Campaign Issue for Obama, Romney
Voice of America
Mitt Romney launched a fresh criticism of China on Wednesday, using the opening statement of the U.S. presidential campaign’s first debate to promise he would “crack down on China if and when they cheat.” The language is not unusual for the Republican
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China Trade Expanding Outside US, Europe
Forbes
China’s trade is shifting away from Europe and the U.S., and heading to growing emerging markets. Much of this is because the U.S. and Europe are contracting. But a lot can be said about the fact that countries in southeast Asia to Russia and India are
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Asian Stocks Rise as US Economic Data Beats Estimates
Businessweek
The regional index gained 4 percent in September amid speculation China will add to stimulus measures, following moves by central banks in the U.S. and Japan, to ease monetary policy through so-called quantitative easing. U.S. jobs data “was a little
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India Slowdown Thwarts Carmakers’ Sales Search Beyond US
Businessweek
With sales crashing in Europe and slowing in China, carmakers are looking for signs of growth beyond the U.S. market. In India, it’s not looking good. The holiday season, just under way there, typically accounts for about a quarter of new auto purchases.
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What the US Presidential Debate Looked Like From China
The Atlantic
The U.S. presidential race between incumbent Barack Obama and his Republican challenger Mitt Romney has caught the attention of the Chinese, and the first presidential debate was no exception. The debate began at 9:00 a.m. in Beijing, but well
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Copper rises on stronger euro; Spain, US data in focus
Reuters
“But the potential upside for copper is pretty limited whilst there is uncertainty about China’s growth and U.S. growth and with the euro zone in recession, and that is going to keep a lid on rallies.” Trading volumes were thin as China is still on a
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U.S. Stocks Rise as Service, Jobs Data Offset China Concern
San Francisco Chronicle
Oct. 3 (Bloomberg) — U.S. stocks rose, sending the Standard & Poor’s 500 Index higher for a third day, as better- than-forecast growth in American employment and service industries offset concern about China’s economy. PulteGroup Inc. led homebuilders
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Oil up slightly after positive US economic reports
CBS News
Oil prices headed higher a day after economic reports showed improvement in the U.S. services sector and a modest uptick in private sector hiring last month. That partly balanced data released Wednesday that showed China’s services sector expanding at
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Rare Earth Policy Lessons US Can Learn From China-Japan Conflict
MetalMiner
Here’s the conclusion of MetalMiner’s recent interview with Dan McGroarty, principal of Carmot Strategic Group and founder of American Resources Policy Network, a think-tank devoted to identifying solutions to reduce America’s dependency on rare earths
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Why the US Needs Chinese Investment
Businessweek
As a result, China’s Ralls and parent company Sany Group (600031:CH), a diversified industrial company, must discontinue plans to build a series of wind farms in Oregon because of the project’s close proximity to a U.S. naval base. Unlike Chinese
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Green exports exceed US$40 million
Taipei Times
The top five importers of Taiwan’s “green” products and services last year were China (US$9.98 billion), Hong Kong (US$6.15 billion), the US (US$5.89 billion), Japan (US$3.37 billion) and South Korea (US$2.01 billion), the Ministry of Economic Affairs’
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Growing Chinese Telecoms Threaten US Security
Military.com
This dependence on cellular networks has drawn the attention of the U.S. military as Chinese telecommunications firms have grown into global powers. Huawei Technologies Co. Ltd leads the way as it has grown into the world’s largest telecommunications
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Letters at 3AM: Too Much of Nothing: The United States pacifies Afghanistan
Austin Chronicle
We take special care of the Chinese: “[J]ust south of Kabul … American troops are providing security for a Chinese state-owned company to exploit the Aynak copper reserves, which are worth tens of billions of dollars. … [In Afghanistan,] China has
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Canada Stocks Decline as China Offsets US Economic Data
Bloomberg
Stocks Decline as China Offsets U.S. Economic Data. By Eric Lam – 2012-10-03T20:22:51Z. Canadian stocks fell as a slump in Chinese non-manufacturing industrial growth offset better-than- estimated reports on U.S. employment and services industries.
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Of Course China’s Inefficient: That’s Why It’s Poor
Forbes
Time gives us a piece showing that China isn’t the incredibly efficient place that some people seem to think it is. To which the response should be, well, yes, of course China is inefficient: that’s why it is poor. The trouble with transport is the
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China’s Blue Water Ambitions and the Law of the Sea
JURIST
US Secretary of State Hillary Clinton had her diplomatic hat handed to her in Beijing last month as she visited China to work on developing better bilateral relations. China’s renewed assertion of claims to wide swaths of ocean in the teeth of counter
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World Bank lowers Latin American growth forecast to 3 percent
Reuters
De la Torre said a prolonged slowdown in China could have a more dramatic effect on export-reliant South American economies, such as Brazil and Argentina. SMALLER RICH-POOR DIVIDE. Slowing growth in Latin America has not, however, translated into
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Mitt Romney wants to “stop borrowing from China
Business Insider
The reason why China ended up owning so much of US Treasury securities is not so much that China is a very nice guy and has a lot of money, nor that Americans are getting very poor. It is because China has been running current account surplus and
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Annual PIFS symposium convenes senior financial and government leaders
Harvard Law School News
Harvard Law School’s Program on International Financial Systems (PIFS) hosted its 9th annual ChinaU.S. Symposium in Beijing the weekend of Sept. 14-16. Co-organized by PIFS and the China Development Research Foundation (CDRF), this annual
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SolarWorld Says Unfair China Policies Rate Import Penalties
Bloomberg
The dispute has become a flashpoint in increasingly tense trade relations between China and the U.S., the world’s largest economies, as American elections loom. President Barack Obama and Republican challenger Mitt Romney, who face off in their first
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Looper’s unprecedented Chinese box office down to accounting error
The Guardian
In order to placate Chinese partners, large sequences were relocated from the US to China – which, 60 years in the future, has become the world’s greatest superpower – and Chinese actor Qing Xu was added to the cast as Willis’s wife. In fact, officials
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EMERGING MARKETS-Mexico peso up on US data; China, Spain weigh
Reuters
US jobs, service sector data stronger than expected * Chinese data suggests economy slowing for 7th quarter * Mexico peso gains 0.3 pct, Brazil real up 0.2 pct By Natalia Cacioli and Jean Arce SAO PAULO/MEXICO CITY, Oct 3 (Reuters) – Mexico’s peso
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Lawmakers want explanation for China-made boots
AirForceTimes.com
Two members of Congress plan to urge the Defense Department to ensure U.S. troops wear only American-made uniforms and gear after Air Force Times revealed this summer that an airman deployed to Afghanistan was given Chinese-made boots by his
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US & China: Official Relations Hot and Cold, but Warmer Person-to-Person.
Asian Fortune
Average Chinese and American citizens seem much friendlier toward each other than do government and political leaders of both nations. That’s the news coming from a survey released by the Committee of 100, the New York City-based nonpartisan,
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China Tops US As Biggest Customer For VW’s Luxury Vehicles
Bernama
BEIJING, Oct 4 (Bernama) — On the back of rising new wealth in China, vehicles sales in the country, from Bentley Motors Ltd and Porsche SE, are expected to top those of the United States (US) this year, hence becoming the biggest customer for Germany
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Lenovo adds PC production in US
China Daily
Lenovo Group Ltd, the world’s No 2 maker of PCs, said on Tuesday that it will begin manufacturing computers in North Carolina next year – its first US production line and one that could add 115 jobs in the state. Starting next year, workers at the
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Chinese stimulus package likely to boost Indian coking coal prices
Xinhua
“The Chinese stimulus package of 1 trillion U.S. dollars is bound to boost coking coal prices and I feel contract prices will reach the level of at least 180 U.S. dollars a ton for January- March. For October-December, BHP Billiton has fixed the
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Vanguard FTSE Switch to Boost China as Korean Stocks Sold
Businessweek
Vanguard Group Inc. fund managers investing in emerging markets will have to sell South Korean stocks and step up purchases of Chinese and Brazilian shares after the largest U.S. mutual-fund provider switched benchmarks for its six equity funds.
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Strong, cooperative relationship with China essential part of US rebalancing
Xinhua
WASHINGTON, Oct. 3 (Xinhua) — Building a strong and cooperative relationship with China is an essential part of the U. S. rebalancing to Asia, U.S. deputy Defense Secretary Ashton Carter said on Wednesday. “A key objective of our rebalance is to build
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Chinese actress sues US website over Bo link claims
AFP
By Michael Thurston (AFP) – 4 minutes ago. LOS ANGELES — Chinese actress Zhang Ziyi is suing a US-based Chinese online news outlet over claims that she was a prostitute who had sex with top official Bo Xilai and others, according to a lawyer.
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