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China to wield more power over commodities pricing

Posted on 24 June 2011

China may be the world’s largest consumer of commodities but has little say over commodities prices since exchanges where they are traded are in the West. That may be changing. The Hong Kong Mercantile Exchange (HKMEx) is open for business and aims to position China to compete with London, New York, and Chicago.
“Global demand for core commodities has in recent years been driven by Asia,” says Barry Cheung, chairman of HKMEx, according to the Christian Science Monitor. “Our new platform will offer Asia a bigger say in setting global commodity prices.”……………………………………….Full Article: Source


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