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While the headlines talk about Beijing's resistance to fiscal stimulus, the government approves...
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Wednesday, May 30, 2012, 10:46 AM ETWhile the headlines talk about Beijing's resistance to fiscal stimulus, the government approves a proposal allowing significantly greater bond issuance by the Railway Ministry. Investment in railways has plunged this year as the system is plagued with high debt and losses amidst corruption, overbuilding, and other boondoggles.
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