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Britain’s economy is ‘on the mend’ but faces problems, says IMF


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Britain’s economy is ‘on the mend’ but faces problems, says IMF
The latest report from the Washington-based economic watchdog came amid renewed optimism about the strength of the recovery.
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(composite video) During his visit to Athens on Saturday, China’s Premier Wen Jiabao announced that he will strengthen business ties with Greece, including the creation of a five-billion dollar ship-building fund….. Chinese Premier Wen Jiabao vowed Saturday to double trade with Greece within five years, and to buy Greek bonds when the crisis-hit country returns to international markets. Wen started a weeklong tour of European countries in Athens, heading a delegation that signed 11 private business deals and two state cooperation agreements for trade and cultural affairs. “When Greece is in trouble, China will help – that’s when real friendship matters,” Wen said after meeting Prime Minister George Papandreou. He said China planned to double its annual trade volume with Greece to billion (€5.83 billion) by 2015….. On Monday, Wen will fly to Brussels to attend a China-European Union summit and other meetings before travelling on to Italy and Turkey. Greece is eager to attract more foreign investment after mounting debts forced it to seek bailout loans this year from EU countries and the International Monetary Fund. Chinese shipping and transport giant Cosco Group has said it wants to expand operations in Greece, after securing a billion concession deal last year for the country’s largest container-terminal port. Wen is scheduled to visit the terminal later Saturday, joined by Cosco president Wei Jiafu. Greece’s Socialist government, slashing costs but struggling
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