Sunday, March 4, 2012

CHINA OFFICIALS BACK REFORMS OF MARKETPLACE.(Business)

Byline: Charlene L. Fu Associated Press

Gao Dewu spoke excitedly about the prospects for real estate sales and stock issues in Deyang, a city in southwestern China - talk that would have been folly a few months ago.

That was before senior leader Deng Xiaoping emerged from retirement in January and urged the nation to press on with economic reforms, even borrowing from capitalism if necessary.

Deng's action thrilled local officials like Gao, who directs Deyang's Commission for Restructuring the Economy. Their outpouring of support for the 87-year-old leader has been one of his great strengths in a power struggle with hard-liners who fear reform will …

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