Boao Forum Warns of Growing Debt; Fitch Downgrades China's Currency Rating
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Asian leaders met over the weekend at the Boao Forum for economic discussions. Some experts predicted a Chinese debt crisis, fueled in large part by local government borrowing. Two days later, the credit rating agency Fitch downgraded China's sovereign debt from AA- to A+.
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 Boao Forum Warns of China's Shadow Banking and Debt Crisis ![[Click to watch]](https://origin.ih.constantcontact.com/fs095/1101742706948/img/336.gif)
Fitch Downgrades China's Local Currency Credit Rating
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Christie's Auction House to Open in China
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China just surpassed the US as the world's largest art and auction market. Christie's has taken note, announcing that it will be the first international auction house to operate independently in China.
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Christie's Auction House to Open in China
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US and China's Rare Earth
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 China controls 95% of the world's rare earths market, a concern for many of its buyers. Rather than stockpile rare earths in an attempt to guard against market manipulation, a non-profit has advised the US Department of Defense that a domestic-based industry should support the US long-term.
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US to Wean Itself from China's Rare Earth?
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Lawyers Petition For One of Their Own
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 A Beijing-based lawyer representing a Falun Gong practitioner has not been seen since he took a photo of court proceedings. 130 lawyers have signed a petition demanding that the court release him. Many believe the abduction is retaliation for taking on a Falun Gong case, a "taboo" in Communist Party-controlled courts.
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Outraged Chinese Lawyers Defend One of Their Own
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