STOCK MARKET WATCH -- Wednesday, 25 January 2012

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39. Obama's attack on Chinese trade practices mostly ignored in China

http://www.latimes.com/business/money/la-fi-mo-china-sotu-20120125,0,402484.story

Reporting from Beijing—

President Obama fired a shot across China's bow during his State of the Union address Tuesday, pledging to lure offshore jobs back to the U.S. and target unfair Chinese trade practices with a special enforcement unit.

The response in China, however, was muted at best -- perhaps drowned out by the barrage of fireworks across the country as it continues to celebrate the weeklong Spring Festival national holiday.

"What's worth noting is that Obama mentioned China five times in his State of Union speech," wrote the Beijing-based Legal Evening News, one of the few Chinese newspapers to acknowledge the mention of China in the president's address. "Every time it was about the economy. He repeatedly attributed the struggle of the U.S. economy to China's rapid growth."

China’s Ministry of Foreign Affairs was closed and did not respond to a request for comment. But judging by past reactions, Beijing will likely dismiss the moves as posturing for political advantage.