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US retailers say China essential to their futures

By David Lariviere (China Daily)

08:29, November 11, 2011

NEW YORK - If one were to try to snap a photograph of China, it would be difficult to capture a still shot.

That is how rapidly the country is moving and changing, said an official with the National Retail Federation of the United States, the largest retail-trade association in the world.

"Everything's growing by leaps and bounds," David French, senior vice-president for government relations at the organization, said after a four-day trip to Beijing and Guangzhou this past month.

"The pace of change is so strong that it was so exciting to see it happening from the ground level. I learned more in 72 hours than in months of research about China."

He took to task US Senators who accused China of holding down the value of the yuan and passed a bill that would let the United States place duties on imports from countries found to be manipulating their currencies. He said they "are thinking about the China of five to 10 years ago".

He also predicted that China will become the leading market for luxury goods by 2020.

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