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Economy

S&P downgrade reveals complexity of China

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Tailwinds in growth such as cheap labor and open access to global markets used to conceal and offset bad policies.   © Reuters

BEIJING -- China's complex economic and financial situation makes it hard to describe the country's outlook in just a few words -- even for U.S. ratings agency Standard & Poor's.

     On Thursday, the agency lowered the outlook for China's government bonds from stable to negative. But that does not necessarily mean they were entirely pessimistic about the future, company representatives stressed during a teleconference on Friday.

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