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WEEKLY TRADE AND TRADING NEWS

 

Monday, November 07, 2011
	U.S. Senators say China supplying bogus weapons parts Reuters • Comment: "Senate Armed Services Committee Chairman Carl Levin said committee investigators identified about 1,800 cases involving one million counterfeit parts since 2009, and those numbers were "just the tip of the iceberg."
	Chinese counterfeit parts found in U.S. weapons Washington Post • Comment: "Fake electronic parts often are produced in China by burning raw material off old circuit boards, washing the components in sometimes-polluted rivers and drying them on city sidewalks, Senate investigators said. They said the resulting parts are unreliable over the long term, even if they pass initial factory testing by manufacturers. “We can’t tolerate the risk of a ballistic missile interceptor failing to hit its target, a helicopter pilot unable to fire his missiles or any other mission failure because of a counterfeit part,” said Sen. John McCain (Ariz.), the ranking Republican on the Armed Services Committee."
	At the G20, Hu Said What When? Wall Street Journal • Comment: "The English-language transcript of Hu’s prepared remarks, distributed on Thursday night, contained the following passage:“To keep asking emerging markets to revalue their currencies and reduce exports will not lead to balanced growth. On the contrary, it would only plunge the global economy into a ‘balanced recession’ and make sustainable growth impossible.”It was some of the strongest language yet from the Chinese side rejecting yuan appreciation pressure.But that passage was omitted entirely from the Chinese transcript. The upshot was that foreign media reported a tough stance by Hu on the yuan, while official Chinese media reported a much milder speech."
	China says U.S. APEC goals too ambitious Reuters • Comment: "Sorely lacking jobs at home and looking for ways to cement the U.S. presence in Asia, the Obama administration wants to drive forward the TransPacific Partnership (TPP) free trade pact among nine nations on the sidelines of APEC. The United States eventually hopes to expand the deal from the current nine countries -- the United States, Chile, New Zealand, Singapore, Australia, Vietnam, Peru, Malaysia and Brunei -- to all 21 members of APEC, which account for about 54 percent of the world's economic output and 44 percent of global trade."
	G-20 Debate Whether to Press China for Greater Yuan Flexibility Business Week • Comment: "A draft of the communique singled out China as needing to allow more flexibility in its currency to help ease global trade and investment imbalances, the official said on condition of anonymity because discussions on the statement haven’t finished. The official wasn’t convinced the citation will remain in the final version because of opposition from Chinese officials. The statement is scheduled for release tomorrow."
	Let Good Times Roll Becomes Refrain for Jobs at Automakers: Cars Business Week
	China's trade surplus to rebound to 24 bln USD China.org.cn
	Noda May Take on Trade Opponents in Pushing Talks With U.S. Business Week
	Q&A: Joseph Eugene Stiglitz, Economist and Nobel Laureate Business Standard India
Sunday, November 06, 2011
	Trade Gap Was Probably Little Changed: U.S. Economy Preview Business Week • Comment: "The U.S. trade deficit was probably little changed in September as slowing global growth put the brakes on exports and imports, economists said before a report this week."
Saturday, November 05, 2011
	Job Cuts At Holloman KRWG FM
	Zhibin Gu: China new conflicts with world: outsourcing, export, jobs and currency Aotearoa IMC
	Ventura County has lost manufacturing jobs but is now holding its own Poten & Partners
	American Manufacturers Find a Friend in Manufacturing Journalist TR Cutler PR-USA.net
Friday, November 04, 2011
	China to take new steps on currency Decatur Daily Democrat • Comment: "The official said Beijing will not promise to move its currency peg a certain amount within a specified time frame. But the nation will "commit to take a step forward to move more rapidly toward a market-based exchange rate."
	U.S. House Approves Looser SEC Rules for Closely Held Firms Business Week • Comment: "The U.S. House passed two measures aimed at removing barriers to investments in closely held firms, including a proposal President Barack Obama’s administration backed in its jobs package."
	Saab’s Future in Flux as G.M. Considers Opposing Its Sale New York Times
	The Chinese Yuan Keeps On Advancing Action Forex
Thursday, November 03, 2011
	China to Commit on Currency Flexibility, Brainard Says Business Week • Comment: "Lawmakers in the U.S. are pressing the Obama administration to take a stronger stand on China’s currency. The U.S. Senate approved a bill last month that would let manufacturers seek duties on Chinese imports if they prove they were harmed by manipulation of the yuan. The U.S. contends China has kept its currency undervalued. President Barack Obama has pressed Chinese leaders to take steps to boost domestic consumption to address trade imbalances."
	G-20 Debate Whether to Press China for Greater Yuan Flexibility Business Week • Comment: "A draft of the communique singled out China as needing to allow more flexibility in its currency to help ease global trade and investment imbalances, the official said on condition of anonymity because discussions on the statement haven’t finished. The official wasn’t convinced the citation will remain in the final version because of opposition from Chinese officials."
	Yuan Gains as Central Bank Sets Record Fixing Rate Before G-20 Business Week
	Thousands wait in line for Nissan job fair Chicago Daily Herald
	Can the U.S. Invent the Next iPad if We Can't Build It? The Atlantic
	Georgia hopes for WTO deal with Russia in November KPNews.com
Wednesday, November 02, 2011
	A Republican Presidential Forum On Manufacturing Iowa Press • Comment: "From coast to coast, from the assembly line to the board room, American businesses affect the impact of a global economic slowdown. Thus far the manufacturing sector has been a bright spot in the American economy but challenges remain for thousands of businesses still developing products, still growing, still building right here in the United States. With only weeks remaining until the first votes are cast in the 2012 election process, republican presidential candidates discuss their plans for business and manufacturing."
	ADP Number Confirms Relentless Erosion In US Manufacturing Base Zero Hedge • Comment: "Employment in the private, goods-producing sector declined 4,000 in October, while manufacturing employment declined by 8,000."

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