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Added on the 31/03/2015 06:19:24 - Copyright : Reuters EN
China's hopes that consumer spending can become its new growth engine have taken a few dents in 2016. But, as Ryan Brooks reports, a new 'moonlight generation' of overspenders might give the economy a shot in the arm, even as they stretch their own resources to breaking point.
The United States "will not accept" a situation where underpriced Chinese goods flood the global market, battering industries elsewhere, US Treasury Secretary Janet Yellen said on Monday as she wrapped up high-level talks in China. This was the situation over a decade ago when Chinese government support led to a surge in steel exports, she told reporters, adding: "I know that these serious concerns are shared by our allies and partners." SOUNDBITE
Chinese President Xi Jinping leaves Vietnam after a two-day state visit to the neighbouring communist country. The trip was Xi's first to Vietnam in six years, and the two nations committed to deeper ties and signed more than 30 agreements, including a pledge to develop rail links between Vietnam and China. IMAGES
US Commerce Secretary Gina Raimondo says that she had raised "tough issues" with Chinese officials this week during talks in Beijing and Shanghai. SOUNDBITE
European Central Bank President Christine Lagarde says Eurozone inflation is slowing but is still expected to be "too high for too long", as the ECB raises interest rates for the ninth consecutive time. SOUNDBITE
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