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Chinese entities world’s biggest economic spies-Pentagon

Paramilitary recruits march during a training session as a banner in Chinese that reads WASHINGTON (Reuters) – The Pentagon said on Friday it believes China spent up to $180 billion on its military buildup last year, a far higher figure than acknowledged by Beijing, and it accused “Chinese actors” of being the world’s biggest perpetrators of economic espionage. The Pentagon, in its annual report to Congress on China’s military, flagged sustained investment last year in advanced missile technologies and cyber warfare capabilities and warned that Chinese spying threatened America’s economic security. …


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Growing military buildup, spying in China: Pentagon

WASHINGTON (Reuters) – The Pentagon said on Friday it believes China spent up to $180 billion on its military buildup last year, a far higher figure than acknowledged by Beijing, and it accused “Chinese actors” of being the world’s biggest perpetrators of economic espionage. The Pentagon, in its annual assessment to Congress of China’s military, flagged sustained investment last year in advanced missile technologies and cyber warfare capabilities and warned that Chinese spying threatened America’s economic security. …

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Pentagon sees Chinese military expanding its reach

The Pentagon is telling Congress that China’s increasingly sophisticated military is pursuing “new historic missions” that go beyond its traditional role of defending the homeland.

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U.S. lawmakers want to halt aid to nations hosting Sudan’s Bashir

WASHINGTON (Reuters) – A House of Representatives committee voted on Thursday to cut off economic aid to any country that hosts Sudanese President Omar al-Bashir, who is wanted by the International Criminal Court on charges of genocide and other crimes. The provision is not yet law, and could change as foreign aid legislation moves through Congress this year. It was approved by the House Appropriations Committee as part of that legislation, which would slash spending on the U.S. State Department and foreign assistance by some 9 percent. …

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Retired officials urge China’s ruling party to come clean

To match insight CHINA-BO/WANG LIJUNBEIJING (Reuters) – Three retired Chinese Communist Party officials issued a call on Friday for leaders to disclose their family wealth before a looming succession, warning that a scandal over the fallen politician Bo Xilai has exposed dangerous abuses of power. The retired officials, led by Ma Xiaoli, have long been out of power and proposals from them and other party reformers have little prospect of shaping China’s leadership succession, which will be settled at the party’s 18th congress later this year. …


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Sen. Marco Rubio Warns of ‘Daily’ Debt Ceiling Crisis, Weighs in on Facebook’s Saverin

Congress won’t have to vote again on raising the debt ceiling until next year, but Sen. Marco Rubio, R-Fla., warned Thursday that the country is dealing with a “debt ceiling crisis on a daily basis” and suggested that Treasury Secretary Timothy Geithner’s claim that a…

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Congressional GOP pushes for action on taxes

Republican lawmakers intensified their efforts on Thursday to get quick congressional action on heading off automatic tax increases and revamping the federal tax code.

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GOP freshmen press Boehner, Cantor for Holder contempt vote

Six House Republican freshmen have written to Speaker of the House John Boehner and Majority Leader Eric Cantor demanding they bring a resolution holding Attorney General Eric Holder in contempt of Congress to the House floor for a vote as soon as possible.

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JPMorgan’s Dimon says will testify before Congress

Dimon, chairman and chief executive of JP Morgan Chase and Co, speaks at the 2012 Simon Graduate School of Business' New York City Conference in New YorkWASHINGTON (Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon has agreed to testify before Congress over the bank’s recent trading losses, which have ignited a political debate over whether large U.S. banks need to be reined in by regulators or new laws. U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday that his panel will invite Dimon to appear before Congress. …


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States’ approval of Internet gambling predicted

Panelists at a major casino gambling conference in Atlantic City say the U.S. Congress is too badly divided to act on Internet gambling, so individual states will start approving it on their own within the next two years.

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