China’s soaring inflation could affect U.S.

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As the United States and Europe struggle to get their economies rolling, China is having the opposite problem - keeping its revved-up economic growth engine from generating runaway inflation.

The latest sign that things were moving too fast came during the weekend when China's central bank ordered the biggest banks to set aside more cash reserves, according to the New York Times.

Because China is now the world's second-largest economy after the United States, and because the country has been a leading source of global growth during the last two years, money problems in China can reverberate worldwide.

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