  A left-right symmetric model with two Higgs bi-doublet is shown to be a
consistent model for both spontaneous P and CP violation. The flavor changing
neutral currents can be suppressed by the mechanism of approximate global U(1)
family symmetry. We calculate the constraints from neural $K$ meson mass
difference $\Delta m_K$ and demonstrate that a right-handed gauge boson $W_2$
contribution in box-diagrams with mass well below 1 TeV is allowed due to a
cancellation caused by a light charged Higgs boson with a mass range $150 \sim
300$ GeV. The $W_2$ contribution to $\epsilon_K$ can be suppressed from
appropriate choice of additional CP phases appearing in the right-handed
Cabbibo-Kobayashi-Maskawa matrix. The model is also found to be fully
consistent with $B^0$ mass difference $\Delta m_B$, and the mixing-induced CP
violation quantity $\sin2\beta_{J/\psi}$, which is usually difficult for the
model with only one Higgs bi-doublet. The new physics beyond the standard model
can be directly searched at the colliders LHC and ILC.
