One of the high-level managers had come out from headquarters and was discussing the status of our company globally and spent quite a lot of time on what was happening in some emerging markets and China specifically.

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What better time to review the apparently successful bit of financial diplomacy by which China is slowly freeing up the yuan than at an IMF meeting?

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At the same time as the Bank of China's share offering, for instance, there was also optimism about what seemed to be a ground-breaking deal with an American finance firm, Newbridge Capital.

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