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Nov. 2 (Bloomberg) -- Chinese manufacturing data for October showed the nation’s recovery strengthening and export orders climbing, giving policy makers more room to pare stimulus measures in coming months.
Manufacturing expanded at the fastest pace in 18 months, according to a purchasing managers’ index released by HSBC Holdings Plc today and also a government-backed PMI released yesterday. The HSBC index rose to a seasonally adjusted 55.4 from 55 in September, an e-mailed statement showed.
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Billionaire investor George Soros said Oct. 30 in Budapest that China, operating an economic model of “state capitalism,” may emerge as the big winner from the financial crisis, to some extent replacing the American consumer as the motor for the world economy.
“China has been the primary beneficiary of globalization and it has been largely insulated from the financial crisis,” Soros said.
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