In the history of the world, no economy has made as big of a leap in such a short time as China has in the last generation. A nation of over 1 billion people who not so long ago relied on the bicycle as their primary form of transportation is now the world's biggest car market. It's also the world's largest smartphone market and is set to pass the United States as the biggest retail market in China is the world's second-biggest economy today behind the U. The global bank also expects it to be the world's biggest contributor to economic growth through as it has been since the financial crisis.
MSCI, FTSE Russell cut Chinese telecom firms from global indexes
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Asian stock markets pushed ahead on Tuesday, with Hong Kong swinging from a morning slump after the New York Stock Exchange said it would not be delisting China-based telecom giants. Seoul and Mumbai stock market indices again closed at fresh all-time record highs. In Japan, the Nikkei opened lower, wobbled and finished down 0.