Wang Qing News
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Apple Inc. founder Steve Jobs suggested the computer maker collude with Palm Inc. to prevent the companies from hiring employees away from each other, according to a court filing in an antitrust lawsuit.
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Evidence of strengthening domestic spending in China undermined the case for Premier Wen Jiabao’s government to resist a faster pace of currency appreciation days before U.S. lawmakers meet to address the issue.
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The following are the day's top business stories:
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Wang Qing , chief China economist at Morgan Stanley in Hong Kong, talks about China’s decision to increase bank reserve ratios by half point from April 21.
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Wang Qing , Morgan Stanley’s chief China economist in Hong Kong, comments on the People’s Bank of China’s announcement today that it will raise banks’ reserve requirement ratios by 50 basis points effective May 18.
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China raised interest rates for the second time since mid-October to counter the fastest inflation in more than two years and more moves may follow.
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China’s central bank will likely need to increase interest rates further in coming months as the three moves since mid-October leave household wealth being eroded by accelerating inflation.
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The following are the day's top business stories:
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Morgan Stanley said that China’s central bank changed language relating to yuan policy in its latest monetary policy report, signaling its intention to let the yuan appreciate.
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China’s signal of an end to the yuan’s fixed rate to the dollar may accelerate a shift toward domestic demand as the prime driver of growth as President Hu Jintao seeks to strengthen household incomes.
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