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China Starts a War on Commodity Prices Goldman Says It Can’t Win

  • Beijing is trying to rein in surging raw-materials costs
  • The crackdown could ripple through markets around the world

It sounds like a Mao-era relic of China’s planned economy: the Department of Price.

But this rarely discussed corner of the Chinese bureaucracy is now playing an increasingly important role in the inflation debate that’s whipsawing financial markets around the world.