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IMF Official Urges China to Pursue Economic Reforms

A key official of the International Monetary Fund is urging China to continue the sometimes difficult effort to reform its huge and growing economy by making it easier to change the ownership and management of failing companies and by making bank loans and currency exchange more market-oriented. At a discussion with Chinese financial and business leaders, David Lipton said China needs to support economic areas that are likely to grow, and be careful not to prop up sectors that have excess...

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