Cat closely watching China's economic slowdown

Caterpillar CEO Jim Owens is closely watching how China takes steps to slow economic expansion to avoid inflation. About 7% of Caterpillar's $33 billion in sales last year was in China, but the country's growth drives up commodity prices that filter through the global economy and create demand for machinery worldwide. China has already taken steps to discourage bank lending, but Owens hopes the nation decides to only "tap on the brakes and not send everyone through the windshield."

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Wall Street Journal/Real Time Economics blog, The

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