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Opinion

What the Fed can learn from the People's Bank of China

Beijing is returning to monetary sobriety faster than Washington

| U.S.
The headquarters of the People's Bank Of China, pictured on May 4: unlike the Fed, the PBOC is anything but independent.   © FeatureChina/AP

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

As Federal Reserve officials in Washington search for a way out of years of desperate rescue-stimulus moves, they might consider looking to a most unexpected place: Beijing.

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