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U.S. China News 2012.10.26

Fri, October 26, 2012

China starts formal criminal probe into politician Bo Xilai
Reuters
BEIJING (Reuters) – China moved quickly on Friday to announce it had formally begun a criminal probe into disgraced former senior politician Bo Xilai, hours after expelling him from the largely rubber stamp parliament and so removing his immunity from
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Tough US election talk on China a time-honored tradition
GlobalPost (blog)
In the final presidential debate, Romney accused China of stealing America’s intellectual property, hacking into its computers, and counterfeiting US products only to brazenly sell them back to unwitting US consumers. This led to the claim that China
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FEATURE: US drillers take China’s money, but deny access to technology
Platts
Chinese oil and natural gas companies are pouring billions of dollars into US shale-drilling projects in an effort to acquire American technology about hydraulic fracturing and other cutting-edge drilling practices, according to experts interviewed by
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Report: Dirty money cost China US$3.8 trillion 2000-2011
The Star Online
WASHINGTON: China has lost US$3.79 trillion over the past decade in money smuggled out of the country, a massive amount that could weaken its economy and create instability, according to a new report. And the outflow – much of it from corruption, crime
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China wants to stop profiteering at temple sites
U.S. News & World Report
Even the Shaolin Temple of kung fu movie fame was once rumored to be planning a stock market debut — and critics have slammed such plans as a step too far in China’s already unrestrained commercial culture. “Everywhere in China now is about
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Insight: How the Petronas deal fell victim to Canada’s China fears
Reuters
OTTAWA/CALGARY (Reuters) – Malaysian state-owned oil company Petronas was so confident last Friday that its purchase of Progress Energy Resources Corp would be approved by Canada that company officials had drafted a press release to announce
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China surpasses US when it comes to foreign direct investment
GlobalPost
This picture taken on September 26, 2012 shows workers on a scaffold at a construction site in Hefei, in central China’s Anhui province. Beijing recently approved a massive infrastructure package as the government seeks to boost the flagging economy.
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Copper rises from seven-week low on US growth optimism
Reuters
Prices for the metal rallied nearly 8 percent in September, fuelled by the third round of quantitative easing (QE) by the U.S. Federal Reserve, the promise of bond buying by the European Central Bank (ECB) and stimulus measures in Japan and China
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In Ohio, China is a Potent Campaign Weapon
TIME
Currency shenanigans have little to do with the U.S.‘s trade deficit with China. Romney’s fix could worsen relations by prompting China to retaliate against the U.S. But this is campaign season, and his advisers believe the issue may help tamp down
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ChinaUS to hold joint military drill on humanitarian rescue
Brahmand Defence and Aerospace News
BEIJING (PTI): Chinese and American military forces would hold joint drill on humanitarian rescue and disaster relief next month, even as China voiced its strong opposition to the US-Japan military exercise. The ChinaUS exercises would be held at
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On China, both candidates are full of hot air
Washington Examiner
One silver lining was that both men refrained from recycling the trope du jour of the last election, that Chinese ownership of U.S. debt meant China could decimate America’s economy by dumping American bonds at will — never mind that this would also
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Who Owns the World? Noam Chomsky on US-Fueled Dangers, from Climate
Democracy Now
In a recent speech, Chomsky examined topics largely ignored or glossed over during the campaign: China, the Arab Spring, global warming, nuclear proliferation, and the military threat posed by Israel and the U.S. versus Iran. He reflects on the Cuban
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Romney picks up incorrect story about Jeep production moving to China
The Detroit News
The Bloomberg story, though accurate, “has given birth to a number of stories making readers believe that Chrysler plans to shift all Jeep production to China from North America, and therefore idle assembly lines and U.S. work force. It is a leap that
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Apple Doesn’t Manufacture in the US, but Don’t Blame China!
Minyanville.com
It’s also true that low-wage, labor-intensive manufacturing jobs will likely never come back to the US. Even China, which is looking at inflationary wage pressures, is facing stiff competition from new emerging markets such as Vietnam and Indonesia for
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Apple: China is an ‘extremely exciting’ market for us
CNET (blog)
While the iPad has been popular in China, the iPhone is hardly a market leader in the world’s most populous country, which now accounts for approximately 27 percent of global smartphone sales. The United States, by contrast, represents only 16 percent.
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Labeling China a Currency Manipulator Not Best Strategy for Balanced US
Yahoo! News (blog)
In Monday’s debate, Governor Mitt Romney reiterated his promise to use his first day in office to formally designate China a “currency manipulator,” or a trading partner that keeps the value of its currency artificially low so its exports are cheaper
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China PM’s family has US$2.7 bil. stash: report
China Post
The New York Times investigation about the family of Wen Jiabao, who will be replaced in a 10-yearly leadership transition next month, coincided with an announcement clearing the way for the prosecution of disgraced leader Bo Xilai. Beijing immediately
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China passes US as top FDI destination
China Daily
China has surpassed the United States for the first time since 2003 as the world’s largest recipient of global foreign direct investment in the first half of 2012, showing that global investors are still confident in the world’s second-largest economy
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Potash Corp. sees China pact by end of 2012
Ottawa Citizen
China paid about US$470 a tonne in its last contract, while India paid roughly US$490. Speaking to investors Thursday, chief executive Bill Doyle said negotiations with China are “constructive and ongoing” and he expects shipments to resume by the end
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Soho China: Plan to Issue US Dollar Bonds
Fox Business
Beijing-based commercial property developer Soho China Ltd. (0410.HK) Friday said it plans to issue U.S. dollar-denominated bonds and that it will begin a series of meetings with institutional investors. The Hong Kong-listed company didn’t specify the
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US OPENING NEWS INCLUDING: steelmakers in China suffered in equity
Proactive Investors UK
US OPENING NEWS INCLUDING: steelmakers in China suffered in equity trading overnight. 1:29 pm. column image. European equities suffer from the open after Apple and Amazon earnings disappoint late yesterday. Peripheral bond yield spreads widen
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China ministry probes Qihoo browser over blogger complaints
Reuters
SHANGHAI (Reuters) – Chinese authorities are investigating the country’s top anti-virus software firm Qihoo 360 Technology after a prominent blogger criticized its web browser, alleging improper practices such as mining of user data, Qihoo said in a
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How Wal-Mart Plans to Build a Greener Chinese Supply Chain
CFO.com Magazine
How Wal-Mart Plans to Build a Greener Chinese Supply Chain. By 2017, the retailing behemoth plans to buy 70% of its goods sold in U.S. stores and Sam’s Clubs from suppliers in China, the U.S. and around the world who use a sustainability index.
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Cooperation is the key to Sino-US ties
China Daily
The United States needs to learn that big countries should respect each other. The winner of the November presidential election needs new angles and new thinking at the strategic level in developing Sino-US relations. Apart from the routine China
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4th Tibetan in Week Self-Immolates in China
ABC News
A U.S.-based rights group says a 24-year-old Tibetan farmer has become the fourth man to set himself on fire this week in a far western Chinese county to protest against Chinese rule. The International Campaign for Tibet said Lhamo Tseten self
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China welcomes more US movies but has a lot to learn about maximizing box
Bizjournals.com
Batman vs. Spider-Man may be a dream matchup for comic-book fans, but it’s a nightmare for movie studios whose blockbuster superhero franchises depend on the same demographics. In the United States, “The Amazing Spider-Man” and “The Dark Night
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Jaguar Land Rover to build design studios in US, China
Autoblog (blog)
To better get a feel for the tastes of its customers, Jaguar Land Rover has decided to open design studios in the US and China, Jag design chief Ian Callum tells Automotive News Europe. US and Chinese sales rank second and third behind the UK for the
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India-US-Japan trilateral meet on Monday
Times of India
NEW DELHI: The US‘ ‘pivot-to-Asia’ policy, Iran, China-Japan maritime dispute and South China Sea will be among the issues to be discussed during the 3rd round of India-US-Japan Trilateral dialogue here on Monday apart from finding areas of cooperation
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China’s Depression Put More Stress on United States Exporters
NoesisStar
While the 2012 United States Presidential contestants attempt to outshine each other in assuring to get really hard on exports to China so as to safeguard U.S. jobs, some of the leading market analysts utter that more direct risk to U.S. labors may
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US Customs officer arrested on federal bribery charges in scheme to avoid
Imperial Valley News
U.S. Customs officer arrested on federal bribery charges in scheme to avoid taxes on imports coming from China · Print · Email. Details: Created on Thursday, 25 October 2012 22:01: Written by IVN. Los Angeles, California – Federal authorities arrested
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US, China Partner to Protect Environment
Imperial Valley News
San Diego, California – San Diego State University researchers will lead a study of one of China’s national treasures and endangered species: The Guizhou snub-nosed monkey, often called the golden monkey. As part of a $1.3 million grant from the
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US Navy To Safeguard ‘Freedom Of Navigation’ In Asia
International Business Times
The captain of the U.S. Navy aircraft carrier USS George Washington Thursday said the U.S. Navy’s presence in Asia would help safeguard the “freedom of navigation,” alluding to China’s claims of sovereignty over international waters in the region, the
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Rise of China could be just what US politics needs
Sydney Morning Herald
China’s rise ends a period when the US could not see – nor even imagine – a credible competitor to its economic, military and diplomatic status. For two decades after the collapse of the Soviet Union, many American politicians and voters came to act as
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The Challenge for China
DefenseNews.com
Not only is the United States engaged in a leadership transition, but so is the People’s Republic of China. A new Chinese leadership will confront the American presidential victor in November; indeed, that leadership will emerge in the week following
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US must end shameful embargo
China Daily
There have been many talks and articles this week in the United States to mark the 50th anniversary of the Cuban missile crisis, a Cold War episode that at one point seemed to herald a global nuclear showdown. But missing is attention to the 50-year
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US futures gain on China optimism
Pakistan Daily Times
US futures gain on China optimism. NEW YORK: US stock index futures rose on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism China’s economy may be recovering and ahead of a flurry of economic
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Flood of money leaving China
CBC.ca
Chinese investors evaded government controls to move more than $600 billion US out of the country last year and the outflow is increasing, fueling economic and political risks as communist leaders prepare for a handover of power, a Washington-based
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