July 12th, 2012
10:03 AM GMT
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(CNN) – South Korea on Thursday cut its benchmark interest rate for the first time in more than three years, fueling concerns that the global economic downturn is taking its toll on one of Asia's largest economies.

Seoul's move followed similar cuts in Europe, China and Brazil last week.

Why did China slash interest rate?

After lowering its rate by 25 basis point down to 3%, the Bank of Korea pointed to a slower-than-expected growth rate in trade and domestic consumption. FULL POST

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Filed under: South Korea


July 12th, 2012
03:51 AM GMT
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Hong Kong (CNN) – With China now the world’s second largest economy and increasing its influence all the time, it’s no surprise that Mandarin is becoming the language to master.

Just look at the case of the American lawyer who left his job, upped sticks and moved his family to Western China to study the language, the recent launch of the New York Times’ Chinese language site, or even Bloomberg’s ranking of Confucius’ tongue as top business language, excluding English – they all point to the importance of communicating with this economic superpower on its terms. FULL POST

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Filed under: China


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