*China defended itself against charges from the U.S. and Europe that its restrictions on raw materials exports violated international trade rules, saying those restrictions were in keeping with WTO regulations.
* Despite China’s reputation as a nation of savers, the central bank says Chinese consumers are increasingly falling behind on their credit-card payments, suggesting a move toward Western-style spending
* The Chinese economy is headed in the right direction, but the foundations of the recovery are not yet solid, Su Ning, a vice-governor of the People's Bank of China, said on Tuesday.
* Economics professor Mark Gertler, a former close colleague of Fed chief Ben Bernanke, says the U.S. central bank is unlikely to rush into any 'exit strategy' from current policy just yet.
* President Barack Obama said a second stimulus package isn’t needed yet, though he expects the U.S. unemployment rate will exceed 10 percent this year.
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