Ben Simpfendorfer News
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Liao Ping says it’s like winning the lottery when he convinces a worker to accept a job offer for Luyang Shoes Co. at his roadside stand in China’s southern Guangdong province. “Sometimes I get two in a day, most times the result is zero.”
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Ben Simpfendorfer , an economist at Royal Bank of Scotland Plc, comments on the People’s Bank of China’s decision to raise banks’ required deposit reserve ratio today. The central bank will raise the ratio by 50 basis points effective Dec. 20.
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Ten years ago, China barely registered on global financial markets. Today, it is front and center. Yet, the market’s understanding of the world’s second- largest economy has struggled to catch up. It is big, foreign, and suffers from a serious lack of economic data, meaning speculation can be as important as fact.
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Royal Bank of Scotland Group Plc said it appointed Li Cui as its chief China economist, replacing Ben Simpfendorfer who recently left the company.
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Don’t talk to Tobias Kerle about China’s slowing growth, the general manager of Continental AG’s 12-month-old tire factory in the city of Hefei is too busy planning to double output.
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Li Wei, a Chinese diplomat in Riyadh, had only just seen off a Ministry of Commerce delegation to Saudi Arabia this month when he started preparing for another Chinese governmental visit in two weeks.
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China’s worldwide search for copper begins in the gnarled hands of 76-year-old Yang Caiguan, who is fiddling with the cables of his digital television tuner.
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The high-speed rail link China Railway Construction Corp. is building in Saudi Arabia doesn’t just connect the holy cities of Mecca and Medina. It shows how Asia, the Middle East, Africa and Latin America are holding the world economy together.
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China’s manufacturing expanded at a slower pace than estimated in May, prompting stock declines across Asia on concern growth in the world’s third-largest economy may slow.
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China’s economy grew 9.6 percent in the third quarter and inflation accelerated to the fastest pace in almost two years, adding weight to calls for the engine of the global recovery to let its currency appreciate more rapidly.
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