Schwarzman Praises Obama Resetting China Relations

June 6 (Bloomberg) -- Stephen Schwarzman, founder and chief executive of Blackstone Group LP, talks about U.S.-China relations and President Barack Obama’s plan to meet with China's President Xi Jinping tomorrow. Schwarzman said Obama's engagement with China’s new government is laying the groundwork for improved economic and military ties between the two nations. (Excerpts. Source: Bloomberg)
China’s Official Factory Gauge Shrinks
26:59 - China’s Purchasing Managers’ Index fell to the lowest reading in three years as monetary easing failed to revive old growth drivers weighed by overcapacity and sliding prices. The figure was 49.7 for August, matching the median estimate in a Bloomberg survey and down from 50 in July. Meanwhile, Australia left interest rates unchanged as a declining currency cushions the impact of lower commodity prices and a weaker outlook for its key trading partner.
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