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Greenback loses favor with Chinese exporters
By STAFF EDITOR
Published: March 29, 2008 05:38 AM
Chinese exporters are turning their backs on the US dollar or devising ways to offset the impact of the falling currency, the Financial Times reported. David Wei, chief executive of Alibaba.com, the online company that matches Chinese suppliers with international buyers, told the newspaper the vast majority of the company’s almost 700,000 Chinese suppliers no longer used dollars to settle non-US transactions. To ...
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