Glenn Maguire News
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The Reserve Bank of Australia reduced its economic growth and inflation forecasts as investment outside the mining industry remains elusive, the labor market softens and a high local currency contains prices.
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Lying in a Beijing military hospital in 1990, General Wang Zhen told a visitor he felt betrayed. Decades after he risked his life fighting for an egalitarian utopia, the ideals he held as one of Communist China’s founding fathers were being undermined by the capitalist ways of his children -- business leaders in finance, aviation and computers.
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Glenn Maguire , chief Asia economist at Societe Generale SA in Hong Kong, comments on odds of a one- off revaluation in the yuan. He was speaking in a Bloomberg Television interview.
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Chinese officials are likely to “tolerate” banks breaching the nation’s 7.5 trillion yuan ($1.1 trillion) loan target for 2010 to sustain growth as the economy cools, Societe Generale SA says.
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China’s new Communist Party leaders pledged to abandon extravagance, cut down on lavish receptions and live more frugally, amid a broader push to stamp out corruption and win back people’s trust.
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China’s pledge to make the yuan more flexible may boost shares denominated in the currency when markets open tomorrow, China International Capital Corp. and Societe Generale SA said.
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Chinese manufacturing data due in four days could jolt global markets by showing the first contraction in 17 months, according to analysts at Societe Generale SA and Westpac Banking Corp.
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China’s manufacturing contracted for an 11th straight month, a private survey found, increasing pressure on the government to bolster growth in the world’s second-largest economy.
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China’s manufacturing contracted for an 11th straight month, a private survey found, increasing pressure on the government to bolster growth in the world’s second-largest economy.
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Thailand signaled growth in the second half of this year may be weaker than previously forecast as a global slowdown hurts exports from Southeast Asia’s second- biggest economy.
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