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Western banks sell China stakes at own risk

Western banks tempted to convert big paper profits on investments in Chinese lenders into cash to shore up subprime-battered balance sheets would do so at the expense of hard-earned access to the fast-growing country.

Mizuho's Merrill deal a new turn for Japan banks

Mizuho Financial Group's $1.2 billion investment in Merrill Lynch marks a turning point for Japan's once-reeling banks which, after shedding bad debt and rebuilding their businesses, are once again looking for opportunities abroad.

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