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People's Bank of China needs to do whatever it takes to boost economy

It has fewer conventional tools than in 2008-09 but can still deliver shock to system

| China

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

After months of watching the economic outlook darken, China's central bank finally seems ready to do something about it. Perhaps something big, even.

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