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China's Efforts to Make Shanghai a Global Financial Hub
Bloomberg Businessweek
Is the People's Republic of China Ready to Go?
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Financial markets and traders are wondering how far the chinese government is prepared to go. The people's bank of china shifted toward an easy mode luring the required reserve ratio for banks. That was a move to bolster growth after crack down on the property industry triggered a credit crunch, slashing demand for housing. David reedle: They're certainly showing a willingness to be more accommodating,. But they have not reached out and tried to bail out evergrand or any of the other companies that have shown a significant company specific stress.
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