The China Miracle 3.0
A gradual appreciation of the Chinese currency, although probably too gradual for some in the west, signals a far more fundamental evolutionary phase for this nation than currency management.
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Chinese whisper over CIC turf wars
The $300 billion China Investment Corporation (CIC) aims to sidestep official barriers to investing in the US by offloading its stakes in home-country banks. The proposal would see the sovereign wealth fund (SWF) relinquish responsibility for the Chinese government’s majority stakes in the country’s largest banks, such as Bank of China, the Financial Times reported.
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