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IMF Bets on China’s Resolve to Reform

The International Monetary Fund says one key aim of its decision to add China’s yuan to a global basket of foreign currencies is to help promote reform of the Chinese economy and financial sector. But the announcement is already raising questions about just how much Beijing is committed to such reforms. Speaking at the IMF’s headquarters in Washington D.C. on Monday, managing director Christine Lagarde made it clear that reform expectations were a crucial part of the...

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