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China's equity markets take off. Borrowing in medium- and long-term debt continues upward. Bond issues retreat in the fourth quarter, but set record for the year. Smaller issues, shorter maturities, and higher spreads for borrowers. Borrowers diversify funding source, and governments lead developing-country borrowing. International financial market activity sets new high in 1995. BIS banks' cross-border claims and net credit accelerate. Project finance...
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