China lives through 'year of extremes'

BEIJING – The number eight is considered so auspicious here that the Chinese leadership decided to launch the Summer Olympic Games at 8 p.m. on the eighth day of the eighth month of the year.

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"This is a clear sign that China, as the largest holder of US dollar financial assets, is concerned about the potential inflationary risk of the US Federal Reserve printing money," said Qu Hongbin, chief China economist for HSBC.

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