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U.S. China News 2012.10.25

Thu, October 25, 2012

Asian Stocks Rise as Exporters Gain on China, US Data
Businessweek
Asian stocks gained, with the regional benchmark index heading for its first advance in five days, as exporters climbed amid signs of improvement in China’s factory output and the U.S. housing market. James Hardie Industries SE (JHX), a building
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US must clearly back Japan in islands dispute with China (+ video)
Christian Science Monitor
The US, then, should take this moment to ensure its position avoids any ambiguity toward the islands, called Senkaku in Japan and Diaoyu in China. It should stand far more publicly with its democratic ally, Japan, and against the bullying tactics being
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METALS-Copper flat as US, China data offset strong dollar
Reuters
Stronger buying interest not seen until next year * EU recession might be deeper than expected * U.S. weekly jobless claims fall by 23,000 By Silvia Antonioli and Harpreet Bhal LONDON, Oct 25 (Reuters) – Copper steadied on Thursday as a commitment by
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Exclusive: Huawei partner offered US tech to Iran
Reuters
LONDON (Reuters) – An Iranian partner of Huawei Technologies Co Ltd, a Chinese company that has denied breaking U.S. sanctions, last year tried to sell embargoed American antenna equipment to an Iranian firm, according to documents and interviews.
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Asian shares take cue from recovery signs in China, US
BDlive
TOKYO — Asian shares inched up on Thursday as signs of recovery in China and the US eased fear of deteriorating global growth, though generally weak corporate earnings continued to make investors wary. The MSCI index of Asia-Pacific shares outside
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COLUMN-US presidential debate jibes ignore history of Chinese counterfeiting
Reuters
By Eric Jay Dolin. NEW YORK Oct 25 (Reuters) – Some of the most acrimonious moments of Monday’s U.S. presidential election debate occurred during the candidates’ discussions of China, with Barack Obama attacking Mitt Romney for his investments in
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Philippines rolls out welcome mat for US aircraft carrier amid island dispute
Fox News
ABOARD THE USS GEORGE WASHINGTON – A U.S. Navy aircraft carrier strike force’s visit to Manila is the latest show of American military might partly aimed at countering China’s grip in Asia. But it also provides hundreds of Filipino American sailors a
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US STOCKS-Futures gain on China optimism; data, earnings in focus
Reuters
McKesson to acquire PSS World Medical. * Durable goods, initial claims data on tap. * Apple earnings after the close. * Futures up: Dow 60 pts, S&P 7.9 pts, Nasdaq 17.5 pts. By Chuck Mikolajczak. NEW YORK, Oct 25 (Reuters) – U.S. stock index futures
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At Chinese factory run by Bain subsidiary, workers favor economics over politics
CNN
It’s about two hours drive from the glamorous metropolis of Shanghai, yet it’s fair to say very few people outside of China have heard of it. But now, Changzhou has landed right in the middle of a U.S political firestorm. It’s all about jobs: American
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Potash profit falls 22 percent on standoff with China, India
Reuters
(Reuters) – Potash Corp of Saskatchewan’s (POT.TO) (POT.N) third-quarter earnings fell 22 percent as a standoff over new contracts led to a sharp drop in shipments to China and India, the world’s two biggest consumers of the company’s namesake crop
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China, US, Russia to Jointly Create New Credit Rating Company
MENAFN.COM
It was announced on Wednesday that the Universal Credit Rating Group will be established by China’s Dagong Global Credit Rating Co., Ltd., the US-based Egan-Jones Ratings Company, and Russia’s RusRating. The headquarters will be set up in Hong
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EMERGING MARKETS-Latam stocks rise on US data, China
Reuters
U.S. economic data, China factory outlook supports stocks * Vale, OGX drive Bovespa to biggest gain in six weeks * Brazil Bovespa rises 1.84 pct, Mexico IPC little changed By Asher Levine and Danielle Assalve SAO PAULO, Oct 25 (Reuters) – Latin
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Mead Johnson cuts outlook as China challenges remain
Reuters
Thu Oct 25, 2012 12:11pm EDT. (Reuters) – Mead Johnson Nutrition Co (MJN.N) reported weaker-than-expected quarterly results and cut its full-year outlook, hurt by weakness in China, Europe and the United States, sending its shares down about 9 percent.
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Microsoft’s China-First Tablet Sales Challenge Apple
Businessweek
(MSFT) sold its first Surface tablet at a department store in northwest Beijing as the company seeks to challenge Apple Inc. (AAPL), which had offered the last iPad in China months after its U.S. debut. “This is the first place in the world where
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Wall Street climbs on data, China hopes; P&G jumps
Reuters
NEW YORK (Reuters) – Stocks advanced on Thursday, putting the S&P 500 on track to rebound from its worst five-day performance in five months, on optimism the economies of both the U.S. and China may be recovering. The Ministry of Industry and
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Wal-Mart, in China, pushes suppliers down green path
Chicago Tribune
Its China ties have also drawn scrutiny. Wal-Mart was among the pioneers in buying from China after it joined the World Trade Organisation in 2001, which helped drive down prices in Wal-Mart’s stores but added to the U.S. trade deficit and left the
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China Surpasses US as Top Foreign Investment Venue
CNBC.com
China absorbed $59.1 billion in foreign direct investment (FDI) in the first six months, down slightly from $60.9 billion a year earlier, the agency said in a report. The United States attracted $57.4 billion in 2012’s first half, down 39 percent from
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China Tells Canada Not to Let Politics Interfere With Business
Huffington Post (blog)
U.S. politicians need to paint a truer picture for their constituents,” a report from the Xinhua news agency reads. “This picture should embrace China’s rise and acknowledge that engaging with China will amplify win-win results, but scapegoating
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Copper up slightly on Fed commitment, US, China data
Reuters
LONDON/SHANGHAI (Reuters) – Copper edged up on Thursday, snapping four sessions of losses, supported by the U.S. Federal Reserve’s renewed commitment to keep stimulating economic growth and by improving manufacturing data from top metals
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China rare earths producer suspends output
U.S. News & World Report
The United States, the European Union and Japan have challenged China’s quotas in the World Trade Organization as a violation of its free-trade commitments. Beijing has defended its controls as necessary to safeguard a scarce resource and minimize
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China, US to hold joint humanitarian rescue drill
Global Times
A delegation of the US army military band will also visit China from October 27 to November 5. During the visit, the US band and the PLA band will stage joint performances in Beijing, Nanjing of east China’s Jiangsu Province and Shanghai, Yang said.
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Yoshida in China: Which candidate can save US jobs?
EE Times
On the surface, the candidates positions on China don’t differ much. After all, talking tough on China is apparently what every U.S. presidential candidate to get elected. No one questions the wisdom of this tactic, especially in Rust Belt states. Each
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U.S. And China Share Problem Of Rising Income Inequality
Seeking Alpha
By Rom Badilla, CFA. Growing income inequality can be a major issue as the gap between the rich and the poor can have long term implications on both a society and economy. Income inequality can create a class system that is determined by wealth, both
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Yuan Forwards Climb to May High as Melco Surges
Businessweek
The Bloomberg ChinaUS Equity Index of the most- traded Chinese companies in the U.S. rose for a second day, led by Melco Crown Entertainment Ltd. (MPEL) after the casino operator said it plans to invest in and operate projects in the Philippines.
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China’s foreign trade to continue improving in Q4, says MOC
Xinhua
BEIJING, Oct. 25 (Xinhua) — China’s foreign trade will continue to pick up in the fourth quarter of the year, the Ministry of Commerce (MOC) told Xinhua on Thursday. Exports growth jumped to 9.9 percent year-on-year to 186.35 billion U.S. dollars in
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Lawyer for China’s deposed Bo unsure if he can take case
Reuters
BEIJING (Reuters) – A lawyer for disgraced former top Chinese politician Bo Xilai, who has been employed by the family to represent him, said on Thursday he was unable to say whether the government would allow him to represent Bo when the case comes
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Will China and US fall into limited confrontation?
People’s Daily Online
The rising protectionism in the United States is the biggest obstacle to the establishment of fair ChinaU.S. trade and economic relations. For example, the United States has banned exports of high-tech and dual-use products to China, exacerbating
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China Yuan Hits Record High on Recovering Confidence
Wall Street Journal
China’s yuan rose to a record high against the U.S. dollar late Thursday amid recovering confidence in the Chinese economy that resulted in a global revival of appetite for emerging market assets such as the Hong Kong dollar. On the over-the-counter
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Continuing Planetary Reaction to US Presidential Debate on Foreign Policy
The Moderate Voice
US has posted about the U.S. presidential race since the third presidential debate on foreign policy. The articles are from Italy, China, Pakistan and Brazil. Starting off with Europe, we have posted two reactions from Italy’s La Stampa. In an article
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China’s Goophone unveils US$99 Android iPad Mini clone
Register
Apple’s Chinese nemesis Goophone is no slouch when it comes to launching fruity tech clones powered by Android – it’s just taken the covers off an iPad Mini lookalike running Jelly Bean which will sell for just $99. The infamous handset maker, which is
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Eurozone woes deepen; China, United States see partial improvement
China Post
see partial improvement. NEW YORK — Eurozone businesses suffered another dismal month in October, suggesting the economy may be headed for a deeper recession than expected, but conditions improved slightly for U.S. and Chinese manufacturers.
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Hyundai Profit Surpasses Estimates on China, i10 Minicar
Businessweek
Hyundai Motor Co. (005380), South Korea’s largest carmaker, reported profit that exceeded analysts’ estimates as it benefited from anti-Japan protests in China and the i10 minicar helped the company buck the slump in Europe. Third-quarter net income
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USChina Hold Fourth Round Of Asia-Pacific Consultations
RTT News
The State Department said the consultations were an outcome of the USChina Strategic and Economic Dialogue, and added that the two countries held constructive discussions on their policies and actions in the Asia-Pacific region. During Tuesday’s
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Stocks rise on hopes for US, China economies
USA TODAY
Earlier Thursday, sentiment in markets had been buoyed by another improving Chinese manufacturing survey, which eased concerns that the world’s second-largest economy was heading for a hard economic landing after years of big growth. European
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China phobia spreads across US
Malay Mail
CHINESE Internet users who watched live streams of the presidential debate heard President Barack Obama and Republican challenger Mitt Romney criticising China with some of the harshest language of the campaign — and many assumed the candidates
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Obama Recession: China Beats USA for FDI
Dallas Blog (blog)
The US will probably return to lead in the rankings, but the real question should be, how long before China outranks the US for attracting foreign investments on a consistent basis? It may depend on whether the US pursues isolationist trade policies or
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US Firms Get Dinged in Europe
Wall Street Journal
Europe’s economic woes are washing over U.S. multinational companies, contributing to a season of weak corporate earnings. Domestic sales are growing, as the U.S. housing market and consumer confidence recover. But China’s economy has slowed,
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China Prepares for Leadership Transition as US Readies for Presidential Election
The Takeaway
On November 8, just two days after Election Day in the United States, the Chinese Community Party will undergo its own leadership transition, at the 2012 Party Congress. China has figured prominently into the 2012 presidential election, as President
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Watkins: China’s rise does not have to come at America’s expense
The Detroit News
As crazy as it sounds, we are borrowing from China to pay for arms to protect Taiwan and not investing in things that will make us stronger, such as education, workforce retraining, rebuilding our infrastructure and research and development. Can we
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China ends nuke plant ban set after Japan disaster
U.S. News & World Report
BEIJING (AP) — China has decided to approve new nuclear power plants as part of plans to reduce reliance on oil and coal, ending the moratorium it imposed to review safety in the wake of Japan’s Fukushima disaster last year. The government’s decision
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Drill, Baby, Drill: China Opening Energy Market, US Firms May Win
Investor’s Business Daily
China said it will invite private investment in its state-dominated energy sector, opening the door to possible joint ventures with U.S. oil and gas exploration companies. Schlumberger (SLB), Halliburton (HAL) and Baker Hughes (BHI) are among the
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Market Buzz: Pessimism in Europe, US and China ready for comeback?
RT
European markets suffered their worst October in 3 years, but the US and China offered hope that the world’s biggest economies are poised for a comeback. Global investors will watch for a US government report on the country’s durable goods orders for
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Don’t blame China for our own failings
Las Vegas Sun
I have watched numerous political commercials blame China for various ills in the United States. How ridiculous are they? China has done nothing wrong. They did not attack us militarily and force us to buy their products. Wal-Mart and American
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U.S. Stocks Rise on Chinese Signs as American Home Sales Jump
San Francisco Chronicle
Oct. 24 (Bloomberg) — U.S. stocks advanced, rebounding from a seven-week low, on signs a slump in China’s factory output is easing and America’s housing market is improving. D.R. Horton Inc. and Toll Brothers Inc. added at least 2.1 percent to pace
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Dominance of US corn in Asia shaken by drought, price
Reuters
China has not bought any U.S. corn since mid-summer and may not make additional purchases before the spring of 2013, and even then only if prices drop to more competitive levels closer to $6 per bushel, said the grain buyers who attended the Export
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