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U.S. China News 2012.10.08

Mon, October 8, 2012

Stocks fall as China, Asia growth outlooks cut
USA TODAY
World Bank warns of ‘more pronounced slowdown’ in China, world’s second-largest economy; Earnings season in the U.S. begins this week with Alcoa set to release results Tuesday; Companies in S&P 500 expected to post overall profit decline, first time in
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RPT-GLOBAL ECONOMY-Semblance of stability as world financial leaders meet
Reuters
US to feel pressure over fiscal cliff at IMF/G7 meetings. * China, U.S. data mildly positive; IMF to cut growth estimates. * Talks to revolve around fiscal stimulus, risk reduction. By Vidya Ranganathan. SINGAPORE, Oct 7 (Reuters) – When finance
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Audi Sept. sales up 13.6 pct on China, US demand
Reuters
BERLIN Oct 8 (Reuters) – Volkswagen’s Audi luxury-car division increased sales by 13.6 percent in September to 136,600 vehicles, powered by demand from China and the United States. Nine-month deliveries rose 12.8 percent to 1.097 million cars and
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US STOCKS-Wall St falls at open after World Bank’s Asia outlook
Reuters
The World Bank reduced its growth forecasts for the East Asia and Pacific region and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast. China, the world’s second largest economy, has been
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US panel: Chinese tech giants pose security threat
The Seattle Times
The House Intelligence Committee said U.S. regulators should block mergers and acquisitions in this country by China’s two leading technology firms because they pose a national- security threat to the United States. By Ken Dilanian. Tribune Washington
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China Phone Companies Pose US Security Threat
Bloomberg
Oct. 8 (Bloomberg) — In “Street News,” Bloomberg’s Scarlet Fu reports on today’s top stories including European finance ministers meet on Spain, a Congressional probe determines China phone companies pose a U.S. security threat, the death toll from a
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US Morning Call: Cisco snuffs China-Exclusive
Reuters
Alert icon. Loading… Published on Oct 8, 2012 by ReutersVideo. Oct 8 – Cisco Systems ended a longstanding sales partnership with ZTE Corporation after an internal investigation into allegations that the Chinese telecom sold Cisco networking gear to Iran.
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China, US reach audit inspection agreement
China Daily
The observation is meant to help the US authorities understand the inspection procedures used by China, which is an important part of decisions to come out of the ChinaUS Strategic and Economic Dialogue. The observation will not include detailed
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Artist Ai Weiwei Shares Hopes, Concerns for China
Voice of America
A work by Chinese artist Ai Weiwei is displayed October 2, 2012 at the Hirshhorn Museum in Washington, DC. ​​Chinese authorities have stripped him of his passport, making it impossible for him to travel to the exhibit in the United States. “Why they do
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UPDATE 4-China’s Huawei, ZTE should be kept from US – draft Congress report
Reuters
China’s telecom gear makers pose potential risk – panel draft. * House Intelligence Cttee seeks to block any M&A. * Huawei is world’s No.2 telecoms gear maker by revs, ZTE 5th. * ZTE Hong Kong-listed shares down 6 pct. * U.S. should set “prejudices
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China art auctioneers face off with foreign rivals
U.S. News & World Report
Hong Kong is “a logical place for us to step out and to fulfill our international expansion plan,” said Guardian’s president, Yannan Wang, who founded the company in 1993 with Chen Dongsheng. The southern Chinese city is also an attractive place for
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Congressional report: US should ‘view with suspicion’ two Chinese companies
CNN (blog)
By Pam Benson. The United States faces a potential security threat from two Chinese telecommunication companies operating inside the United States, according to a congressional report to be released Monday. CNN obtained a draft report of the nearly
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Memo to Obama’s China Ambassador: Eat Your Words
Forbes
President Obama’s ambassador to China, Gary Locke, has been busy trying to soothe American concerns about Chinese trade policies. In Washington recently, he commented: “The thing about China is that there’s a love affair with American goods, products
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US Congress Flags China’s Huawei, ZTE As Security Threats
Forbes
In early 2011, Chinese telecom-equipment giant Huawei made an unusual request to the U.S. Congress. In an open letter, it asked lawmakers who had raised questions about Huawei’s strategic mission to consider a full investigation into the company’s U.S.
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US panel warns against doing business with China tech giants due to security
Washington Post
Reflecting U.S. concern over cyber-attacks traced to China, the report also recommends that U.S. government computer systems not include any components from the two firms because that could pose an espionage risk. “China has the means, opportunity,
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China’s Huawei, ZTE should be kept from US: draft Congress report
Reuters
WASHINGTON (Reuters) – China’s top telecommunications gear makers should be kept from the U.S. market because they cannot be trusted to dodge Chinese state influence and thus pose a security threat, the U.S. House of Representatives’ Intelligence
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China warns of ‘prejudice’ in US telecom report
AFP
“We hope the US Congress will set aside prejudices, respect the facts, and do things that will benefit ChinaUS economic cooperation instead of the contrary,” said foreign ministry spokesman Hong Lei. The draft report by the US House Intelligence
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Sedalia spy allegations hint at USChina economic competition
Kansas City Star
The arrests of Huang, 45, and Qi, 31, for allegedly violating the federal Economic Espionage Act, also bring renewed focus on the sometimes cloak-and-dagger world of the U.S.China economic relationship. U.S. Justice Department officials announced two
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US stocks decline on global concerns
MarketWatch
The Nasdaq Composite (NASDAQ:COMP) lost 24.58 points, or 0.8%, to 3,111.61. Apple Inc. (NASDAQ:AAPL) shares fell 2.1% after a China Labor Watch report that a Foxconn factory in China had been crippled by a strike. The Taiwanese company and Apple
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China’s Huawei, ZTE should be banned: draft House panel report
Chicago Tribune
WASHINGTON/HONG KONG (Reuters) – China’s top telecoms gear makers should be shut out of the U.S. market as potential Chinese state influence on them poses a security threat, the U.S. House of Representatives’ Intelligence Committee said in a draft of
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Toyota And Honda Ride The US Momentum, But China Remains A Worry
Trefis
Japanese automakers Toyota Motors (NYSE:TM) and Honda Motors (NYSE:HMC) continued to perform strongly in the U.S. with sales rising 41.5% and 30.9%, respectively, in September (y-o-y). Overall, vehicle sales in the U.S. remained strong and are on
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US Against China Bullying
Manila Bulletin
SUBIC Bay – A strong United States military presence in the Asia-Pacific region would deter China from bullying smaaller countries like the Philippines, thus said an officer of the US Navy following Monday’s opening of the annual Amphibious Landing
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Moscow, Beijing ‘Reset’: The New World Order Of Russia, China And A Weak US..
Right Side News
Russian Foreign Minister Sergei Lavrov declared that the Obama administration’s “Reset” in relations with Russia “cannot last forever,” and must be followed by a closer relationship, according to a Reuters news report. Lavrov, however, is willing to
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US markets slide on bad news from China
Newsday
U.S. stocks fell on Monday as investors looked forward without excitement to third-quarter earnings reports and the World Bank said Asia’s economies won’t grow as much as expected this year. U.S. companies are expected to report a profit decline when
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Huawei, ZTE Provide Opening for China Spying, Report Says
Businessweek
Huawei Technologies Co. and ZTE Corp. (763), China’s two largest phone-equipment makers, provide opportunities for Chinese intelligence services to tamper with U.S. telecommunications networks for spying, according to a congressional report to be
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Stations Monitor Beijing’s Air Quality After US Embassy Pressure
Laboratory Equipment
Chinese citizens have prodded their government into publishing more detailed pollution data since the U.S. Embassy started publishing PM2.5 readings taken from its rooftop on Twitter. Beijing started releasing PM2.5 data in January. It now has 35
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Chinese Company Stands to Lose on US Wind Farm Ban
Energy and Capital
The Oregon project was not funded by the Chinese government, and all design and construction was completed by U.S. companies operated by Americans. Ralls stands to lose around $25 million in federal tax incentives should the farms not be operational
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GOP Bashes Chinese Company That Partnered With Mitt Romney (DETAILS)
Global Grind
Advertisement. Members of the Republican Party are warning U.S. companies not to do business with the Chinese tech company “Huawei,” which is the largest manufacturer of telecommunication devices and responsible for building “4G” technology.
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Chinese firm set to acquire US-funded battery maker A123
The News Journal
“The issue of having the Chinese come in after the U.S. has supported the company with loans is a challenge for them,” University of Michigan Transportation Research Institute analyst Bruce Belzowski said. “Do they end up moving the plant to China?
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Lessons from China’s Solar Industry Woes
Energy Collective
The U.S. shouldn’t rely on artificially cheap Chinese clean energy exports. In the United States, clean energy advocates have often highlighted rapid cost declines in solar brought on by mercantilist Chinese subsidies and export dumping. In their
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Australian Stocks Little Changed on US Concern
Businessweek
Stock markets in China will reopen today after a weeklong holiday. Friday’s U.S. jobs data “dampened the mood for equities,” said Stan Shamu, a market strategist at IG Markets Ltd. in Melbourne, a provider of trading service for equities, bonds
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Philippine sees naval port as vital to US
gulfnews.com
Subic Bay: The Philippines said Monday a former US naval base facing the South China Sea could play a key role as a hub for American ships as Washington moves to strengthen its presence in the Asia-Pacific. Once the US military’s largest overseas
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Betting on black: China risks $14 billion on coal-to-gas pilot
Reuters
It is cheaper and easier to burn the coal directly, but China, which overtook the United States as the world’s number-one energy guzzler and greenhouse gas emitter, struggles to move coal from remote western and northern regions to the east and south,
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ZTE urges US probe be broadened, denies ties with China government
Yahoo! News (blog)
HONG KONG (Reuters) – ZTE Corp said on Monday that the scope of a U.S. committee probe into Chinese telecom equipment makers should be expanded to protect U.S. national security and that it is not directed or controlled by the Chinese government.
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Congress Warned: China’s Huawei, ZTE Are Threat to US Security
Moneynews
China’s top telecoms gear makers should be shut out of the U.S. market as potential Chinese state influence on them poses a security threat, the U.S. House of Representatives’ Intelligence Committee said in a draft of a report to be released on Monday.
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US Intelligence Says Chinese Companies ‘Can’t Be Trusted’
The Atlantic Wire
In a report due out Monday, U.S. lawmakers say the federal government should block a impending merger between two of China’s largest telecom companies. Why? Obviously, they must be spies. The companies in question, Huawei and ZTE, want to expand
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The Rising East: China Commands British King: ‘Tremble and Obey!’
Honolulu Civil Beat
What seems to be an American reaction to the Chinese stance helps to explain the unfavorable American views of China. In a fresh report, the Pew Research Center found that large U.S. majorities see China as neither partner nor adversary but as competitor.
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US, China need to get together on climate change, says Rudd
The Australian
Identifying the next five years as a time of “profound transition” for USChina relations, Mr Rudd said it needed political leadership from these two major powers to make the global rules system work. “China has massive national self-interest in
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The SCO, China, Iran, and gold
Gold Seek
This creates a dilemma for the US. If she escalates her attacks on Iran, she threatens the interests of China, India and other SCO members. At this stage it is too early to judge the political reactions of the SCO members to this threat, but there are
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Global Growth is Slowing and China is the Wild Card
Global Economic Intersection
Nonetheless, the IMF forecast assumes a slow but steady recovery and resolution of the most pressing issues of the day, including the slowdown in China, the European sovereign debt crisis, continued deleveraging in the US and agreement on means to
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